www.aldridgeminerals.ca
Twitter: @AldridgeAGM
TSX-V: AGM
TORONTO, March 25, 2014 /CNW/ - Aldridge Minerals Inc. (TSX Venture:
AGM) ("Aldridge" or the "Company") is pleased to announce the
appointment of Han Ilhan as President and Chief Executive Officer,
effective as of April 7, 2014.
Mr. Ilhan is a highly regarded mining executive with capabilities
spanning the entire mine life cycle from scoping, exploration,
feasibility, licensing & permitting, design, construction, supply
chain, commissioning, financial management, management of operations,
maintenance, and reclamation. Mr. Ilhan joins Aldridge from an
international mining company with operations in Turkey where he served
as Vice President of Projects and Country Manager of Turkey Operations.
Mr. Ilhan is a professional engineer and earned his Bachelor of Civil
Engineering from Boğaziçi University in Istanbul, Turkey and Master of
Geotechnical Engineering at Oregon State University. Prior to his most
recent position, Han spent 26 years in progressive engineering,
management, and leadership roles at URS Corporation ("URS"), a leading
provider of engineering, construction, and technical services for
public agencies and private sector companies around the world. Mr.
Ilhan was most recently the Vice President and Director of Global
Mining Business at URS, where he provided engineering and environmental
services to the mining industry in over 20 countries. His experience
includes project identification, evaluation, planning, and development,
with a strong emphasis on environmental risk minimization and
sustainable development. His specific technical expertise in the mining
industry includes engineering, environmental, social risk management,
and technical planning in the design and construction of heap leach
facilities, water supply and diversion systems, pollution prevention
measures, waste storage facilities, and mine closure and reclamation
projects.
"The Board was committed to finding an executive that not only brought
extensive industry experience with a history of building and operating
mines, but also had particular expertise with mine development in
Turkey. After conducting an exhaustive search process, the Special
Committee of the Board concluded that Han brings a unique skill set to
the Company and is ideally suited to lead Aldridge through its critical
next phases of development," said Barry Hildred, Chairman of Aldridge.
"I am honoured to have the opportunity to lead Aldridge, a company I
have known and admired for many years," said Mr. Ilhan. "This is an
exciting time for the Company and I look foreword to working with the
management team and Board to unlock the significant value of the
Yenipazar Project."
Mr. Ilhan, who is fluent in both Turkish and English, will be based in
Ankara, Turkey.
Grant of Options
Upon his appointment, the Company will grant a total of 1,000,000 stock
options to Mr. Ilhan. The exercise price of the options will be
determined following the announcement of the Company's Yenipazar
Optimization Study, which is expected by mid-April. One quarter of the
options will vest on the grant date, one quarter on the first
anniversary, one quarter on the second anniversary and the balance on
the third anniversary. They expire in 5 years. This grant of options
is subject to acceptance by the TSX Venture Exchange.
About Aldridge
Aldridge is a development stage mining company focused on its wholly
owned Yenipazar polymetallic VMS Project (Au, Ag, Cu, Pb, Zn) in
Turkey, a country that is committed to developing its natural
resources. Aldridge completed the Yenipazar feasibility study and filed
the related NI 43-101 compliant technical report in May 2013 and is
currently advancing the Project on key aspects including optimizing the
feasibility study 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. 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 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.
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.
SOURCE Aldridge Minerals Inc.