Aldridge Closes $5 Million Private Placement

Mon Jan 25, 2010 8:32pm EST

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

  VANCOUVER, BRITISH COLUMBIA, Jan 25 (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 second and final tranche of the
non-brokered private placement announced on December 11, 2009. The second
tranche consists of 1,230,000 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 has agreed to 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 26, 2010 in compliance with
the applicable securities laws and the rules of the Exchange.

    Together with the first tranche that closed on January 15, 2010, the
Company raised gross proceeds of $5,010,000. 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
1 604 688 8932
www.aldridgeminerals.com

Copyright 2010, Market Wire, All rights reserved.

-0-