Aldridge Announces an Updated 43-101 Resource Estimate

- Diamond drilling delivers increased tonnage and metal content - 
TORONTO, Nov. 26, 2012 /CNW/ - Aldridge Minerals Inc. (TSX Venture: AGM) 
("Aldridge" or the "Company") is pleased to announce an in-pit updated 
National Instrument 43-101 mineral resource estimate for its Yenipazar gold 
and polymetallic deposit in Turkey. The estimate is based on 54,248 metres of 
drilling, including 20,604 metres of diamond drilling. 
Highlights of the November 2012 Resource Estimate 


    --  Indicated resources total 29,669,000 tonnes, an increase of 11%
        since the June 2012 resource
    --  Contained metal content of gold and all other metals has
        increased since the June 2012 resource, highlighted by a 16%
        increase in contained copper and a 17% increase in contained
        zinc, all in the Indicated category.

"During 2012, we successfully completed a 10,000 metre diamond drilling 
program, which confirmed the continuity of the resource and resulted in a 
better understanding of the geology of the Yenipazar deposit and its 
mineralized zones," said Mario Caron, President and CEO of Aldridge. "With the 
increased tonnage and metal content, we have significantly enhanced the value 
of Yenipazar over the past 12 months. Our updated resource will form the basis 
for the reserves, mine plan, and cash flow analysis underpinning the 
feasibility study, which we look forward to delivering in Q1 2013."

Resource Summary

Compared to the June 2012 mineral resource estimate, the metal grades of the 
resource have remained fairly stable while the total size of the resource has 
increased. Due to the better quality of information provided by diamond 
drilling versus reverse circulation drilling, all reverse circulation holes 
drilled within a six-metre radius of a diamond drill hole have been excluded 
from the database.

The updated mineral resource is summarized in the following tables.

Total Mineral Resources (in-pit) @ NSR/t cut-off of US$15/t for Sulphides, 
US$12/t for Oxides, and US$15/t for Copper Enriched( (1)(2)(3)(4)(5))

 ____________________________________________________________________________________________________
|                                                         |                    Contained Metal       |
|_________________________________________________________|__________________________________________|
|Category |   Tonnes  | Au  | Ag  | Cu  | Pb  | Zn  |Au Eq| Au  | Ag   | Cu   | Pb   | Zn   | AuEq   |
|         |           |(g/t)|(g/t)| (%) | (%) | (%) |     | (M  |(M oz)|  (M  |  (M  |  (M  | (M oz) |
|         |           |     |     |     |     |     |(g/t)| oz) |      | lbs) | lbs) | lbs) |        |
|_________|___________|_____|_____|_____|_____|_____|_____|_____|______|______|______|______|________|
|Indicated| 29,669,000| 0.95| 31.3| 0.31| 1.01| 1.47| 2.42| 0.90| 29.85| 204.8| 660.2| 961.2|    2.30|
|_________|___________|_____|_____|_____|_____|_____|_____|_____|______|______|______|______|________|
|Inferred |    369,000| 0.47| 25.5| 0.18| 0.94| 1.89| 1.88| 0.01|  0.30|   1.5|   7.7|  15.4|    0.02|
|_________|___________|_____|_____|_____|_____|_____|_____|_____|______|______|______|______|________|

The total resources can be further broken down into the three major 
mineralized zones of the Yenipazar deposit, namely: sulphide, oxide and copper 
enriched zones.

Sulphides (in-pit) @ NSR cut-off of US$15/t((1)(2)(3)(4)(5))

 ____________________________________________________________________________________________________
|                                                         |                    Contained Metal       |
|_________________________________________________________|__________________________________________|
|Category |   Tonnes  | Au  | Ag  | Cu  | Pb  | Zn  |Au Eq| Au  | Ag   | Cu   | Pb   | Zn   | AuEq   |
|         |           |(g/t)|(g/t)| (%) | (%) | (%) |     | (M  |(M oz)|  (M  |  (M  |  (M  | (M oz) |
|         |           |     |     |     |     |     |(g/t)| oz) |      | lbs) | lbs) | lbs) |        |
|_________|___________|_____|_____|_____|_____|_____|_____|_____|______|______|______|______|________|
|Indicated| 23,624,000| 0.97| 32.2| 0.31| 1.02| 1.64| 2.61| 0.74| 24.46| 161.4| 531.2| 854.1|    1.98|
|_________|___________|_____|_____|_____|_____|_____|_____|_____|______|______|______|______|________|
|Inferred |    369,000| 0.47| 25.5| 0.18| 0.94| 1.89| 1.88| 0.01|  0.30|   1.5|   7.7|  15.4|    0.02|
|_________|___________|_____|_____|_____|_____|_____|_____|_____|______|______|______|______|________|

Oxides (in-pit) @ NSR cut-off of US$12/t((1)(2)(3)(4(5))

 ______________________________________________________________________________________________
|                                                       |                 Contained Metal      |
|_______________________________________________________|______________________________________|
|Category |  Tonnes | Au  | Ag  | Cu  | Pb  | Zn  |Au Eq| Au  | Ag  | Cu  | Pb  | Zn  | AuEq   |
|         |         |(g/t)|(g/t)| (%) | (%) | (%) |     | (M  | (M  | (M  | (M  | (M  | (M oz) |
|         |         |     |     |     |     |     |(g/t)| oz) | oz) |lbs) |lbs) |lbs) |        |
|_________|_________|_____|_____|_____|_____|_____|_____|_____|_____|_____|_____|_____|________|
|Indicated|3,541,000| 0.81| 23.0| 0.23| 0.96| 0.53| 1.26| 0.09| 2.62| 18.0| 74.9| 41.4|    0.14|
|_________|_________|_____|_____|_____|_____|_____|_____|_____|_____|_____|_____|_____|________|

Copper Enriched (in-pit) @ NSR cut-off of US$15/t((1)(2)(3)(4)(5))

 __________________________________________________________________________________________________
|                                                           |                 Contained Metal      |
|___________________________________________________________|______________________________________|
|Category |     Tonnes  | Au  | Ag  | Cu  | Pb  | Zn  |Au Eq| Au  | Ag  | Cu  | Pb  | Zn  | AuEq   |
|         |             |(g/t)|(g/t)| (%) | (%) | (%) |     | (M  | (M  | (M  | (M  | (M  | (M oz) |
|         |             |     |     |     |     |     |(g/t)| oz) | oz) |lbs) |lbs) |lbs) |        |
|_________|_____________|_____|_____|_____|_____|_____|_____|_____|_____|_____|_____|_____|________|
|Indicated|    2,504,000| 0.94| 34.5| 0.46| 0.98| 1.19| 2.21| 0.08| 2.78| 25.4| 54.1| 65.7|    0.18|
|_________|_____________|_____|_____|_____|_____|_____|_____|_____|_____|_____|_____|_____|________|

(1)  Mineral resources which are not mineral reserves do not have
     demonstrated economic viability.  The estimate of mineral
     resources may be materially affected by environmental, permitting,
     legal, title, taxation, sociopolitical, marketing, or other
     relevant issues.

(2)  The quantity and grade of reported Inferred resources in this
     estimation are conceptual in nature and there has been
     insufficient exploration to define these Inferred resources as an
     Indicated or Measured mineral resource and it is uncertain if
     further exploration will result in upgrading them to an Indicated
     or Measured mineral resource category.

(3)  The mineral resources in this estimate were calculated with the
     Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM
     Standards on Mineral Resources and Reserves, Definitions and
     Guidelines prepared by the CIM Standing Committee on Reserve
     Definitions.

(4)  The resources and Au equivalent ratios were calculated using the
     below recoveries (see October 16, 2012 press release for further
     details). Metal prices in US$ used were Au $1,435/oz, Ag $27/oz,
     Cu $3.50/lb, Pb $1.00/lb and Zn $0.95/lb.
     Sulphides: Au 92%, Ag 90%, Cu 75%, Pb 75% and Zn 70%.
     Oxides: Au 75%, Ag 45%, Cu 0%, Pb 40% and Zn 0%.
     Copper Enriched: Au 82%, Ag 72%, Cu 50%, Pb 50% and Zn 30%.

(5)  All resources are reported within an optimized pit shell. The
     $15/tonne Sulphide NSR cut-off value for resource reporting was
     derived from a processing cost of US$12.50/tonne and a G&A cost of
     US$2.50 per tonne. The $12/tonne Oxide NSR cut-off value for
     resource reporting was derived from a processing cost of
     US$9.50/tonne and a G&A cost of US$2.50 per tonne. Mining costs
     were US$1.35 and US$1.85 per tonne respectively for oxide and Cu
     enriched/sulphide and optimized pit slopes were 40 degrees.

Metal Prices

It was determined that three-year trailing average metal prices be applied 
(see above footnotes). It is understood that more conservative metal prices 
may be used for the reserve estimate and cash flow analysis in the feasibility 
study, which is expected in Q1 2013.

Sensitivity Analysis

As evidenced by the tonnage/NSR tables and curves below, the resource is 
largely insensitive to NSR cut-off, and by extension, metal prices. This is 
especially true in the case of the sulphides, which compose approximately 80% 
of the resource.

Sulphides (in-pit) - Indicated Resource

 _____________________________________________
|Cut-Off|   Tonnes | Au  | Ag  | Cu | Pb | Zn |
|(NSR/t)|          |(g/t)|(g/t)|(%) |(%) |(%) |
|_______|__________|_____|_____|____|____|____|
|    $50|17,755,498| 1.21| 38.8|0.37|1.24|1.96|
|_______|__________|_____|_____|____|____|____|
|    $45|18,740,852| 1.17| 37.6|0.36|1.20|1.90|
|_______|__________|_____|_____|____|____|____|
|    $40|19,815,678| 1.12| 36.4|0.35|1.16|1.84|
|_______|__________|_____|_____|____|____|____|
|    $35|20,865,577| 1.08| 35.3|0.34|1.12|1.78|
|_______|__________|_____|_____|____|____|____|
|    $30|21,661,664| 1.05| 34.5|0.33|1.09|1.74|
|_______|__________|_____|_____|____|____|____|
|    $25|22,308,081| 1.02| 33.8|0.33|1.07|1.71|
|_______|__________|_____|_____|____|____|____|
|    $20|23,000,673| 0.99| 32.9|0.32|1.04|1.67|
|_______|__________|_____|_____|____|____|____|
|    $15|23,623,821| 0.97| 32.2|0.31|1.02|1.64|
|_______|__________|_____|_____|____|____|____|

Oxides (in-pit) - Indicated Resource

 ____________________________________________
|Cut-Off|  Tonnes | Au  | Ag  | Cu | Pb | Zn |
|(NSR/t)|         |(g/t)|(g/t)|(%) |(%) |(%) |
|_______|_________|_____|_____|____|____|____|
|    $50|  912,351| 1.85| 41.5|0.34|1.47|0.68|
|_______|_________|_____|_____|____|____|____|
|    $45|1,073,443| 1.70| 39.8|0.33|1.44|0.67|
|_______|_________|_____|_____|____|____|____|
|    $40|1,260,776| 1.56| 37.7|0.33|1.40|0.66|
|_______|_________|_____|_____|____|____|____|
|    $35|1,458,505| 1.44| 35.7|0.31|1.36|0.64|
|_______|_________|_____|_____|____|____|____|
|    $30|1,721,763| 1.31| 33.3|0.29|1.29|0.62|
|_______|_________|_____|_____|____|____|____|
|    $25|2,111,516| 1.16| 30.4|0.27|1.20|0.59|
|_______|_________|_____|_____|____|____|____|
|    $20|2,634,223| 1.00| 27.2|0.25|1.11|0.57|
|_______|_________|_____|_____|____|____|____|
|    $15|3,200,545| 0.87| 24.5|0.24|1.02|0.54|
|_______|_________|_____|_____|____|____|____|
|   $12 |3,540,766| 0.81| 23.0|0.23|0.96|0.53|
|_______|_________|_____|_____|____|____|____|

Copper Enriched (in-pit) - Indicated Resource

 ____________________________________________
|Cut-Off|  Tonnes | Au  | Ag  | Cu | Pb | Zn |
|(NSR/t)|         |(g/t)|(g/t)|(%) |(%) |(%) |
|_______|_________|_____|_____|____|____|____|
|    $50|1,560,299| 1.35| 45.0|0.62|1.25|1.47|
|_______|_________|_____|_____|____|____|____|
|    $45|1,679,323| 1.28| 43.9|0.59|1.22|1.43|
|_______|_________|_____|_____|____|____|____|
|    $40|1,802,672| 1.22| 42.7|0.56|1.19|1.40|
|_______|_________|_____|_____|____|____|____|
|    $35|1,915,273| 1.17| 41.6|0.54|1.16|1.37|
|_______|_________|_____|_____|____|____|____|
|    $30|2,027,611| 1.12| 40.2|0.52|1.12|1.33|
|_______|_________|_____|_____|____|____|____|
|    $25|2,161,815| 1.07| 38.6|0.50|1.08|1.29|
|_______|_________|_____|_____|____|____|____|
|    $20|2,353,479| 0.99| 36.2|0.48|1.02|1.23|
|_______|_________|_____|_____|____|____|____|
|    $15|2,504,254| 0.94| 34.5|0.46|0.98|1.19|
|_______|_________|_____|_____|____|____|____|

Quality Assurance

The technical information in this news release was prepared, reviewed and 
approved by Eugene Puritch, P. Eng. of P&E Mining Consultants Inc. of 
Brampton, Canada. Mr. Puritch is an Independent Qualified Person under NI 
43-101 standards.

Analyses for gold, silver, copper, lead, and zinc, and a number of other 
elements were completed by ALS Chemex of Vancouver, BC, and by SGS Turkey in 
Ankara. Analysis for gold was conducted by the fire assay method and analyses 
for silver, copper, zinc and lead were conducted by 4-acid-digestion and ICP. 
Blanks, certified reference material and field duplicates were inserted on a 
regular basis in the sample stream in order to provide external QA/QC on the 
lab analysis.

About Aldridge

Aldridge is a near development stage mining company focused on advancing its 
Yenipazar gold and polymetallic VMS deposit (Ag, Cu, Pb, Zn) in Turkey - a 
country that is committed to developing its natural resources and is rapidly 
emerging as an economic powerhouse. Aldridge is currently building on its 
December 2010 Preliminary Economic Assessment with a feasibility study that we 
expect to complete in March 2013. The Yenipazar deposit is subject to an 
earn-in agreement with Alacer Gold Corp., wherein Aldridge can earn a 100% 
working interest subject to certain conditions, subject to a 6% net profit 
interest ("NPI", revenues less operational costs) until revenues of US$165 
million are generated, and a 10% NPI from there on.

Additional information and corporate documents may be found on www.sedar.com 
and the Aldridge website, www.aldridgeminerals.ca.

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. Forward-looking statements in this news release, 
include, but are not limited to, economic performance and future plans and 
objectives of Aldridge. Any number of important factors could cause actual 
results to differ materially from these forward-looking statements as well as 
future results. 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 new release, and no assurance can be given that such events will occur in 
the disclosed timeframes 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.

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.





Mario Caron President & CEO, Director Aldridge Minerals Inc. (416) 477-6985 
mcaron@aldridgeminerals.ca

David Carew Director, Investor Relations & Corporate Secretary Aldridge 
Minerals Inc. (416) 477-6984 dcarew@aldridgeminerals.ca

SOURCE: Aldridge Minerals Inc.

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CO: Aldridge Minerals Inc.
ST: Ontario
NI: MNG FIELD 

-0- Nov/26/2012 15:06 GMT