Aldridge Minerals Inc.
Aldridge Minerals Inc.:ALDRIDGE TO ACQUIRE 100 % IN THE YENIPAZAR Au-Ag-Cu-Pb-Zn PROPERTY, CENTRAL TURKEY
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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ALDRIDGE MINERALS INC.
950 – 424 Spadina Crescent East
Saskatoon, Saskatchewan S7K 6X7
Telephone: (306) 955-4741
NEWS RELEASE
Date: July 21, 2006 Trading Symbol: TSX-V: AGM
Website: www.aldridgeminerals.com
ALDRIDGE TO ACQUIRE 100 % IN THE YENIPAZAR Au-Ag-Cu-Pb-Zn PROPERTY, CENTRAL
TURKEY
Vancouver, B.C.: Aldridge Minerals Inc. (“Aldridge”) is pleased to
announce that it signed a strategic alliance and option agreement
(“Agreement”) with Anatolia Minerals Development Ltd. and its Turkish
subsidiary (collectively: “Anatolia”) for exploration and development of
the Yenipazar Au-Ag-Cu-Pb-Zn VMS deposit in central Turkey. The Agreement
amends and restates the previous agreement with Anatolia on the Yenipazar
property. Under the terms of the Agreement, and supplementary to earn-in
conditions spelled out in the previous agreement, Aldridge has the
opportunity to earn 100 % title to the Yenipazar property for payment of
250,000 common Aldridge shares. Further, Aldridge shall pay Anatolia a 6 %
net proceeds interest (NPI: revenue less operational cost) until revenues
from the Yenipazar operation reach the amount of US$ 165,000,000. If
revenues exceed the amount of US$ 165,000,000, the NPI increases to 10 % on
the amount in excess of US$165,000,000.
The completion of the Agreement is subject to the receipt of all necessary
regulatory approvals and the issue of the 250,000 shares to Anatolia.
This strategic alliance and 100% earn-in option for Aldridge will give
Aldridge a major core asset. From Anatolia’s perspective, it has chosen
to focus on building up a work infrastructure to develop 100%-owned large
Cöpler gold projects, rather than divert its resources to minority
ownership in projects that would be controlled and managed by others.
(Aldridge could have earned 65 % under the previous agreement.) In
agreeing to the new terms, Anatolia recognizes the value to Aldridge in
having the opportunity to earn into 100 % of the Yenipazar property and the
value to Anatolia over the longer term.
Aldridge is active in the exploration and development of gold and base
metal projects in Turkey.
On behalf of the Board of Directors
“Hikmet Akin”
DR. HIKMET AKIN
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THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
(c)DGAP 21.07.2006
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Language: English
Issuer: Aldridge Minerals Inc.
Suite 204, 3540 West 41st Avenue
V6N 3E6 Vancouver, BC Kanada
Phone: +1 306 955 4741
Fax: +1 306 955 4741
E-mail: akin@shaw.ca
WWW: http://www.aldridge-minerals.de
ISIN: CA0144301029
WKN: A0CAPB
Indices:
Listed: Freiverkehr in Berlin-Bremen; Open Market in Frankfurt
End of News DGAP News-Service
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