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Aldridge Minerals Reports Results of Yenipazar Drilling Project in Turkey

Aldridge Minerals Inc. (TSX-V: AGM) today announced results of its 2010 diamond drill program on the Yenipazar Au-Ag-Cu-Pb-Zn volcanogenic massive sulphide project in central Turkey.

Three PQ diamond holes (diameter of 8.3 cm) have been assayed by ALS Chemex of Vancouver in a total of 281 samples and 22 samples from the core are being analyzed for metallurgical test purposes by Mintek Laboratories of South Africa.

All of these holes were intended to approximately duplicate previously drilled RC holes in order to obtain material for metallurgical testwork and to assess the quality of the RC-data. RC holes yield only rock powder with chips of up to a few centimeters wide and may suffer loss of metals due to the pulp recovery process. However, RC-drilling is two to three times faster than diamond drilling and is about half the cost per meter, which enabled Aldridge to outline the deposit in its current large size.

All diamond holes were drilled five meters from the corresponding RC-hole. Drill hole YPD-5 was drilled on the western edge of the Yenipazar body and was actually found to be barren and may have been drilled just outside of the resource.

In two of the pairs (YPD-7/YP-120 and YPD-2/YP-51), the diamond drilled intervals are both longer and higher grade. In two other pairs (YPD-4/YP-62, 58-68 meters and YPD-6/YP-343B, 28-36 meters), the diamond drilled intervals are higher grade, but are the same interval length as in RC hole.  In one pair, the RC interval is significantly shorter (YP-51: 54 meters vs. 68 meters for diamond), both with similar grades. * In the remaining two pairs (YPD-4/YP-62, 74-106 meters and YPD-6/YP-343B, 50-72 meters), the RC grade is higher with very similar interval lengths.

Overall, grade appears to improve in the diamond drill holes but there must also be lateral variation of the grade within the Yenipazar body itself. The massive improvement of drill hole YPD-7 over its RC-counterpart, makes YPD-7 one of the best holes in the entire deposit. The fact that both of the longer diamond intersections also have higher grades may indicate that these diamond holes coincidentally entered more towards the center of a VMS-mound.

Comparison of pairs of RC and duplicate diamond drill holes, spaced five meters apart.

YPD-1 includes unusual intervals at 112-114 meters (61 g/t Au), 122-124 meters (20.15 g/t Au), and 124-126 meters (12.5 g /t Au). If capped at 10 g/t Au, the average grade for the diamond drilled interval of 62-130 meters is 2.05 g/t Au.  If uncapped, the grade across this interval is 3.92 g/t Au.

Dr. Martin Oczlon, CEO of Aldridge Minerals commented "We are particularly pleased to see that the grades in the diamond holes overall show an improvement over those encountered in the neighbouring RC-holes, which will be included in the forthcoming new resource model for the Yenipazar deposit. The results of these holes confirm very well the lateral continuity of the resource at the five meter-scale. The mineralized horizons vary only slightly in thickness and elevation, which is an important aspect for open pit mining."

The Yenipazar project is subject to an earn-in agreement with Anatolia Minerals, wherein Aldridge can earn a 100% working interest, subject to a 6 % net proceeds interest ("NPI", revenues less operational cost) until revenues of US$ 165 million are generated, and 10 % NPI thereafter.  

Martin S. Oczlon, PhD Geo, a director of Aldridge and Qualified Person as defined in NI 43-101, has reviewed and verified the technical content of this press release.

Source: Aldridge Minerals Inc.


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