Aldridge Minerals Inc. announces extension of non-brokered private placement

    TSX-V: AGM
    Frankfurt: A0CAPB

    VANCOUVER, Oct. 15 /CNW/ - Aldridge Minerals Inc. (Frankfurt WKN: A0CAPB,
TSX.V: AGM) ("Aldridge" or the "Company") announced today that it is extending
the closing by one month of its ongoing non-brokered private placement of
units ("Units") of securities at a price of $3.00 per Unit to raise gross
proceeds of a minimum of $3,000,000.
    Each Unit will consist of one common share and one-half of one share
purchase warrant, with each full warrant entitling the holder to acquire one
additional common share at a price of $3.50 per share for a period of
24 months from closing, which represents an extension of 12 months from the
original terms.
    The proceeds of the private placement will be used for continuing
exploration and drill programs on the Company's mineral properties in Turkey
and for general working capital purposes. The Company may pay a finder's fee
incidental to the financing in accordance with Exchange policies. The private
placement and payment of a finder's fee are subject to TSX Venture Exchange

    About Aldridge

    Aldridge Minerals Inc. is wholly focused on mineral opportunities in
Turkey where the Company is conducting an ambitious exploration and
development program at its flagship Yenipazar polymetallic VMS project. A
Preliminary Economic Assessment as well as an updated resource calculation is
scheduled for Q2 2008, subject to the eventually determined size of the
deposit and progress of respective resource definition drilling. Aldridge has
also identified several prospective nickel opportunities in Turkey and has
amassed a large property position where a systematic development program has

    Forward-Looking Statements:

    The statements made in this Press Release may contain forward-looking
statements that may involve a number of risks and uncertainties. Actual events
or results could differ materially from the Company's expectations and

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.

For further information:

For further information: Hikmet Akin, President & Director, Aldridge
Minerals Ltd., Tel: (604) 737-2743, Email:; Andreas Curkovic,
Investor Relations, The Equicom Group, Tel: (416) 815-0700 x262, Email:

Organization Profile

Aldridge Minerals Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890