Aldridge Minerals : Provides Land Acquisition Update and Announces the Appointment of Scotia Capital as Financial Advisor

TORONTO--(BUSINESS WIRE)-- Aldridge Minerals Inc. (TSX-V: AGM) ('Aldridge' or the 'Company') today announced that the Company has acquired title to or has right to access 91.1% of the Yenipazar project area. The State-led compulsory court process continues in parallel with ongoing voluntary transactions. The Company expects the land acquisition process to be completed in 2017, subject to available funds.

Aldridge is also pleased to announce that it has retained Scotia Capital Inc. ('Scotia Capital'), a leading full-service wholesale bank and investment dealer, to act as its financial advisor. Scotia Capital will assist Aldridge in evaluating financing and strategic options.

'The appointment of Scotia Capital adds to our experienced Board of Directors and management team and allows us to review and assess a wide range of options as we advance the Yenipazar land acquisition process towards completion and the Yenipazar Project towards development,' said Han Ilhan, Aldridge's President & CEO.

About Aldridge

Aldridge is a development-stage mining company focused on its wholly owned and permitted Yenipazar polymetallic VMS Project (Gold, Silver, Copper, Lead, Zinc) in Turkey. Aldridge completed the Yenipazar Optimization Study and filed the related NI 43-101 compliant technical report in May 2014, which updated the original May 2013 Feasibility Study. The Company is currently advancing the Yenipazar Project on key aspects including land acquisition and interim and project financing.

Caution Regarding Forward-Looking Information

This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking statements. When used in this press release, words such as 'proposed', 'may', 'would', 'could', 'will', 'expect', 'anticipate', 'estimate', 'believe', 'intend', 'plan', and other similar expressions are intended to identify forward-looking statements. Such risks, uncertainties and factors, include, but are not limited to, the ability of the Company to fund the purchase of the remaining land required to develop the Company's Yenipazar Project, its ability to complete the land acquisition in 2017, and its ability to otherwise advance the development of the Project; the ability of the Company to raise additional debt or equity financing on acceptable terms or at all; economic performance; mineral prices; the future plans and objectives of the Company; and the other factors discussed under the heading 'Risk Factors' in the Company's Management's Discussion and Analysis for the year ended December 31, 2015 and in other continuous disclosure filings made by the Company with Canadian securities regulatory authorities and available at www.sedar.com. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results.

Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of Aldridge and its subsidiaries as a going concern, general economic, political and market conditions, mineral prices, and the accuracy of mineral resource estimates. Although Aldridge believes that the assumptions and factors used in making the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aldridge disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise unless required by law.

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 news release.