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

Aldridge Files NI 43-101 Technical Report for Yenipazar Feasibility Study, 
Announces Results of Annual Meeting, and Files Q1 2013 Financial Statements 
www.aldridgeminerals.ca
TSX-V: AGM 
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-NPI(1) 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 $361 million. 
Economic Analysis: Base Case Metal Prices
The Company has determined to present three economic scenarios using the base 
case metal pricing assumptions. The first scenario is on a pre-tax project 
basis and does not reflect the Alacer NPI. The second scenario includes the 
NPI and the third scenario includes both the NPI and applicable taxes. All 
scenarios demonstrate robust economics.  
 _______________________________________________________________
|                         Base Case Pricing Assumptions         |
|_______________________________________________________________|
|Gold ($/oz)|Silver ($/oz)|Copper ($/lb)|Lead ($/lb)|Zinc ($/lb)|
|___________|_____________|_____________|___________|___________|
|   $1,450  |     $28.00  |      $3.00  |    $0.95  |    $0.90  |
|___________|_____________|_____________|___________|___________| 
 ______________________________________________________________
|               |Pre-NPI, Pre-Tax|After-NPI, Pre-Tax|After-NPI,|
|               |                |                  | After-Tax|
|_______________|________________|__________________|__________|
|IRR            |           26.5%|             24.4%|     23.7%|
|_______________|________________|__________________|__________|
|NPV (0%)       |           $908M|             $816M|     $782M|
|_______________|________________|__________________|__________|
|NPV (7%)       |           $438M|             $381M|     $361M|
|_______________|________________|__________________|__________|
|Payback (years)|             2.6|               2.7|       2.8|
|_______________|________________|__________________|__________| 
_____________________
(1) The Yenipazar project is subject to a 6% net profit interest ("NPI", 
revenues less operational expenses) to Alacer Gold Corp. ("Alacer") until 
revenues of US$165 million are generated, and a 10% NPI from there on. 
Economic Analysis: Base Case Metal Prices Minus 10%
In the interest of further demonstrating the strength of the Yenipazar 
project, the scenarios below outline the effect of a 10% reduction to base 
case metal prices on the economics of the project.  
 _______________________________________________________________
|                  Base Case Minus 10% Pricing Assumptions      |
|_______________________________________________________________|
|Gold ($/oz)|Silver ($/oz)|Copper ($/lb)|Lead ($/lb)|Zinc ($/lb)|
|___________|_____________|_____________|___________|___________|
|   $1,300  |     $25.00  |      $2.70  |    $0.85  |    $0.80  |
|___________|_____________|_____________|___________|___________| 
 ______________________________________________________________
|               |Pre-NPI, Pre-Tax|After-NPI, Pre-Tax|After-NPI,|
|               |                |                  | After-Tax|
|_______________|________________|__________________|__________|
|IRR            |           20.5%|             18.7%|     18.1%|
|_______________|________________|__________________|__________|
|NPV (0%)       |           $646M|             $579M|     $555M|
|_______________|________________|__________________|__________|
|NPV (7%)       |           $280M|             $238M|     $224M|
|_______________|________________|__________________|__________|
|Payback (years)|             3.1|               3.5|       3.7|
|_______________|________________|__________________|__________| 
Operating Costs 
Since the announcement of the Feasibility Study highlights on April 3, 2013, 
Golder Associates (UK) Limited determined that operating costs per tonne be 
reduced by $0.02 to $29.13 per tonne of ore due to a downward adjustment in 
power costs for the tailings management facility. This adjustment is reflected 
in the NPV calculations noted above. 
Quality Assurance  Alexander Duggan, P. Eng., Manager Estimating & Planning 
with Jacobs Minerals Canada Inc., a subsidiary of Jacobs Engineering Group 
Inc., reviewed the Economic Analyses regarding Base Case Metal Prices and Base 
Case Minus 10% Pricing referred to in this news release. Mr. Duggan is a 
Qualified Person under the guidelines of NI 43-101 who reviewed the Economic 
Analyses, which are based on Base Case Pricing Assumptions, adjustments to 
depreciation expenses and the other information identified by the Company. 
The complete NI 43-101 report details the extent of the study, the assumptions 
made in analyzing the data provided the risks inherent in such projects and 
remaining work necessary to validate the project feasibility. Interested 
parties are encouraged to read the entire report. 
Annual Meeting 
Aldridge is also pleased to announce the results of its Annual and Special 
Meeting of Shareholders held on Wednesday May 15, 2013 (the "Meeting"). 
Election of Directors
The number of directors has been set at ten and includes the election of Baran 
Baycan, Mario Caron, John Cook, Daniella Dimitrov, Ed Guimaraes, Barry 
Hildred, Meric Oktar, Ahmet Taçyildiz, Hande Taçyildiz and Michael Widmer. 
Continuance 
The Company's shareholders approved the continuance of the Company from the 
Business Corporations Act (British Columbia) to the Canada Business 
Corporations Act and adopted a new general by-law of the Company. 
Stock Option Plan 
At the Meeting, Shareholders approved amendments to the Company's stock option 
plan (the "Option Plan") to convert it from a "fixed" to a "rolling" stock 
option plan. The Option Plan now defines the maximum number of shares that 
may be issuable under the Option Plan as 10% of the Company's issued share 
capital. The amendments to the Option Plan are subject to final regulatory 
approval. 
Appointment of Auditor
PricewaterhouseCoopers LLP, Chartered Accountants, has been re-appointed as 
auditor of the Company for the ensuing year and the board of directors has 
been authorized to fix their remuneration. 
Filing of Q1 2013 Financial Statements
The Company has filed its unaudited condensed consolidated financial 
statements and management's discussion & analysis for the three months ended 
March 31, 2013 (the "Financial Statements" and the "MD&A", respectively). The 
Financial Statements and the MD&A are posted on SEDAR at www.sedar.com and on 
the Company's website at www.aldridgeminerals.ca. 
About Aldridge 
Aldridge is a development stage mining company focused on advancing its 
Yenipazar polymetallic VMS deposit (Au, Ag, Cu, Pb, Zn) in Turkey - a country 
that is committed to developing its natural resources and is rapidly emerging 
as an economic powerhouse. Following completion of the Feasibility Study, one 
of Company's key objectives of 2013 is to obtain the project financing needed 
to build the Yenipazar project and thereafter commence production. The project 
financing may include some combination of equity, senior debt, metal streaming 
and off-take agreements. 
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 news 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 news release. 
Mario Caron President & CEO, Director (416) 477-6985  
David Carew Director, Investor Relations (416) 477-6984   
SOURCE: Aldridge Minerals Inc. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/May2013/17/c7996.html 
CO: Aldridge Minerals Inc.
ST: Ontario
NI: MNG ERN  
-0- May/17/2013 11:30 GMT
 
 
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