Vancouver, B.C. - July 6th, 2015 - Aldrin Resource Corp. (“Aldrin”) (TSX Venture: ALN) is pleased to announce that it has arranged with an institutional investor a $250,000 non-brokered private placement consisting of flow-through Units at a price of $0.18 per Unit (the “Offering”). Each unit will be comprised of one flow-through share and one-half warrant, with each whole warrant entitling the holder to purchase one common non flow-through share at a price of $0.25 for a period of 24months from closing. Proceeds of the Offering will be used for ongoing exploration on Aldrin’s Triple M Uranium Property. A 6% cash commission of the Offering may be paid. It is anticipated the financing will be closed by July 10th, 2015.
Aldrin will immediately complete additional ground geophysical surveys to more precisely define the uranium mineralized Anticline Target on our Triple M Property. The Triple M Property lies adjacent to Fission Uranium’s high grade Patterson Lake discovery. The increased geophysical resolution on the Anticline Target is the last exploration step before Aldrin’s planned 4,000 m drill program to start later in the year.
The survey will comprise of in-fill points to increase resolution on existing data, which has already proven successful in defining mineralized structures associated with the Anticline Target. Ground resistivity survey lines will commence soon thereafter. Aldrin’s first drill test discovered the Anticline Target to be significantly mineralized with uranium at values consistent with being within a potential halo to a high-grade deposit. The first drill hole (ALN14-008) encountered strong uranium mineralization over significant intervals including:
a. 53.4 ppm U over 10.0 m between 178.0 and 188.0 m, including a higher value zone of 148.7 ppm U over 1.5 m between 182.5 and 184 m;
b. 273 ppm U over 0.5m between 235.0 and 235.5 m;
c. 97.4 ppm U over 3.5 m between 243.0 and 246.5 m, including a higher value zone of 144.8 ppm U over 2.0 m between 243.5 and 245.5 m
(Please see news release dated July 26, 2014 for more details)
Harrison Cookenboo, Ph.D., P.Geo is Aldrin’s Vice President of Exploration and Development and a Qualified Person (QP) by the standards of National Instrument 43-101. He has reviewed the technical data described above and approves the contents of this news release.
ON BEHALF OF THE BOARD
Johnathan More, CEO and Director
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.
