Aldridge Files NI 43-101 Technical Report for Yenipazar Feasibility Study, Announces Results of Annual Meeting, and Files Q1 2013 Financial Statements

TORONTO, May 17, 2013 /CNW/ – Aldridge Minerals Inc. (TSX Venture: AGM) (“Aldridge” or the “Company”) is pleased to announce, among other things, that the NI 43-101 Compliant Technical Report summarizing the Feasibility Study for the Yenipazar Project in Turkey (the “43-101”) has been posted on SEDAR at www.sedar.com and on the Company’s website at www.aldridgeminerals.ca. All dollar figures in this news release are stated in United States (“US”) dollars.

During the compilation of the 43-101, a number of adjustments were identified by the Company that had a favourable impact on the project economics compared to the results announced on April 3, 2013. The adjustments affected the amounts and timing of depreciation expenses and several other items in the financial model. As a result, on an after-NPI¹ and after-tax basis, the NPV (0%) improved by approximately $75 million to $782 million and the NPV (7%) improved by approximately $38 million to $361 million.

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