Aldridge Closes First Tranche of Private Placement

Mon Jan 18, 2010 3:04pm EST

* Reuters is not responsible for the content in this press release.

  VANCOUVER, BRITISH COLUMBIA, Jan 18 (MARKET WIRE) -- 
Dr. Hikmet Akin, President of Aldridge Minerals Inc. ("Aldridge" or the
"Company") (TSX VENTURE: AGM)(FRANKFURT: A0CAPB) is pleased to announce
that the Company has closed the first tranche of the non-brokered private
placement announced on December 11, 2009. The first tranche consisted of
3,780,000 units at a price of $1.00 per unit (the "Units"). Each Unit
consists of one common share and one share purchase warrant entitling the
holder to acquire one additional common share at a price of $1.50 for a
period of 24 months from closing. The warrants are also subject to an
accelerated expiry date if the Company's common shares close at the price
of $2.50 or greater for a period of 30 days, in which case the warrant
holder will have a maximum of 30 days thereafter to exercise the
warrants. The Company will pay a finder's fee of up to 7% in cash and
3.5% in brokers' warrants exercisable for 24 months at a price of $1.50
per warrant or in accordance with TSX Venture Exchange (the "Exchange")
policies.

    The securities issued pursuant to the private placement are subject to a
four month hold period which expires on May 16, 2010 in compliance with
the applicable securities laws and the rules of the Exchange.

    The Company will close the second and final tranche of the private
placement on or before January 25, 2010. The total net 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 private placement and payment of the finder's fee are subject to
approval of the TSX Venture Exchange.

    About Aldridge Minerals

    Aldridge Minerals Inc. is mainly focused on mineral opportunities in
Turkey where the Company is conducting an ambitious exploration and
development program at its flagship Yenipazar polymetallic VMS project.

    Aldridge has also identified several other prospective opportunities in
Turkey and has amassed a large property position where a systematic
exploration program is underway.

    On behalf of the Board of Directors

    DR. HIKMET AKIN, President and Director

    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 projections.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Aldridge Minerals Inc.
Dr. Hikmet Akin
President and Director
1 604 688 8932
www.aldridgeminerals.com

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