Mr. Han Ilhan reports

ALDRIDGE REPORTS Q2 2014 FINANCIAL RESULTS AND PROVIDES A CORPORATE UPDATE

Aldridge Minerals Inc. has filed its unaudited consolidated financial statements for the three and six months ending June 30, 2014, and the management's discussion and analysis related thereto, which are available on SEDAR.

$45-million (U.S.) interim financing

The second quarter 2014 MD&A provides an overview of the $45-million (U.S.) interim financing that was announced on Aug. 29, 2014. The interim financing consists of the following components:

• $10-million (U.S.) equity private placement
  • The company executed definitive agreements with Orion Fund JV Ltd., an affiliate of the Orion Mine Finance funds, in connection with a $10-million (U.S.) equity private placement which includes participation by the company's two largest shareholders.
• $35-million (U.S.) secured bridge loan facility
  • The loan significantly strengthens Aldridge's balance sheet and provides financial flexibility to complete the company's key corporate growth objectives. Together with the net proceeds of the private placement, the loan will be used to finance the Yenipazar land acquisition, advance basic and detailed engineering, and for general working capital purposes through to project financing.

Lead concentrate and gold offtake

Agreements

Aldridge also entered into the offtakes with an Orion affiliate. The offtakes underscore Orion's confidence in the Yenipazar project and will assist Aldridge in demonstrating bankable revenue streams to prospective project lenders.

Cash and cash equivalents at June 30, 2014, totalled $2,673,571.

The company continued to prudently manage its cash by deferring certain operating and project development activities. Upon closing of the interim financing, expenditures will be managed to ensure achievement of land acquisition and project development objectives and to comply with use of proceeds commitments pursuant to the loan.

Outlook

Land acquisition

Subject to the successful closing of the interim financing, the company will kick off the next stage of its land acquisition process (LAP) at the Yenipazar project. The company anticipates a fair and orderly LAP that will comply with the Equator Principles III typically required by international banks and project finance organizations. The land acquisition process is expected to take up to 12 months, although there are inherent risks that could extend the process.

Project development

Aside from the priority of advancing the project through the acquisition of land, the company intends to initiate detailed engineering. The scope of the engineering will be determined in third quarter 2014. The owner's team will also be expanded in 2014 and 2015 as necessary to advance the Yenipazar project through its next stages of development.

Project financing

Based on the company's 2014 achievements, including the August, 2014, announcement of the interim financing, Aldridge is well positioned to advance its efforts to obtain project financing in 2015. Although the company continues to be optimistic regarding financing, the amount and timing of obtaining new funds will be affected by the capital market conditions for junior mining companies, fluctuations in commodity prices, and potential changes to the political environment in Turkey.

Investment incentive certificate (IIC) preliminary application filed

In September, 2013, the company submitted a preliminary application for the IIC in order to qualify for tax incentives. The IIC application was updated based on the revised capital expenditure estimates of the optimization study. The incentive program allows for a government capital contribution to qualifying depreciable capital expenditures of either 40 per cent for large-scale projects or 30 per cent for regional projects. This contribution is financed by a corporate income tax rate reduction from 20 per cent to 6 per cent. The company expects to receive the IIC based on the large-scale project incentive within the next two to three months. The impact of these incentives has been factored into the NI 43-101-compliant technical report that summarizes the optimization study.

Selected financial information

The following table provides selected consolidated financial information that should be read in conjunction with the Q2 2014 financials of the company.

                                                             Six months ended      12 months ended
                                                                and as at             and as at
                                                                 June 30,              Dec. 31,
                                                           2014           2013           2013

(Loss) before income tax and discontinued operations   $(1,722,418)   $(5,540,039)   $(7,387,867) 
Net (loss)                                              (1,722,418)    (5,196,606)    (7,044,434) 
Net (loss) per share                                         (0.02)         (0.07)         (0.09) 
Cash and cash equivalents                                2,673,751     11,401,972      7,055,868 
Working capital (i)                                      2,478,116     11,173,240      6,917,577 
Total assets                                             9,668,777     12,918,454     11,177,814 
Total non-current financial liabilities                    145,154        111,582        123,772 

(i) Working capital equals current assets less current liabilities, and is a non-GAAP (generally
    accepted accounting principles) measure used by management.

The company's expenditures on mineral properties are as displayed in the table.

                                      Three months ended         Six months ended
                                          June 30,                   June 30,
                                      2014          2013        2014         2013

Yenipazar property, Turkey         $1,433,653   $1,172,528   $2,966,720   $3,206,247 
Exploration licences, Turkey(i)             -            -        5,029        3,533 
Total exploration and evaluation   $1,433,653   $1,172,528   $2,971,749   $3,209,780 

(i) The company presently holds two exploration licences.

We seek Safe Harbor.