Aldrin Resource Corp.
TSX VENTURE : ALN

Aldrin Resource Corp.

May 28, 2013 09:30 ET

Aldrin Commences Airborne Magnetic and Electro Magnetic Survey at Patterson Lake and Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 28, 2013) - Aldrin Resource Corp. ("Aldrin") (TSX VENTURE:ALN) is very pleased to announce the immediate commencement of a high-resolution airborne magnetic and electromagnetic geophysical survey covering the Triple M Property ("Property"). The survey is being flown by Aeroquest Airborne, a division of Geotech, using their advanced helicopter-borne, time domain electromagnetic VTEM plus system and magnetic gradiometer. The survey will cover all of the Triple M Property at 200 m line spacing, and is expected to begin flying today. Flying the survey over the Property is anticipated to take 6 to 9 days.

The survey is designed to detect conductors and magnetically defined structures that may define targets for uranium mineralization. Such conductive and magnetic anomalies may extend the mineralized structures associated with Alpha Minerals Inc and Fission Uranium's ("Alpha/Fission") reported high-grade Patterson Lake discovery 10 km east on the adjacent property to the Triple M Property. Alpha/Fission reportedly used a similar Aeroquest VTEM airborne survey to define conductors associated with their high-grade intersections on their Patterson Lake property, based on information contained in Alpha's recently released independent technical report available on SEDAR (dated April 23, 2013). Some maps in that technical report suggest that VTEM conductors extend to the contiguous edge of the Triple M Property with the Patterson Lake discovery property. Geology is indicating that the conductors and structures may extend onto the Triple M Property from the Patterson Lake discovery and this will be confirmed by the airborne survey.

Aldrin's Triple M Uranium Property is located in the Patterson Lake Area of Saskatchewan within the Athabasca Basin. The property consists of 6 claim blocks totalling 12,001 ha and is bordering the Fission Uranium Corp./Alpha Minerals Inc. discovery at Patterson Lake 9 km south to 11 km west of their recent discovery.

Aldrin also wishes to announce a non-brokered private placement consisting of up to 12,500,000 units at a price of C$0.08 per unit. Each unit is comprised of one common share and one half warrant. Each whole warrant will entitle the holder to purchase an additional common share of Aldrin at C$0.18 for 1 year.

ON BEHALF OF THE BOARD OF DIRECTORS

Johnathan More, CEO and Director

Issued Share Capital: 40,600,000

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.

Contact Information

  • Aldrin Resource Corp.
    604-687-7741
    604-662-3904 (FAX)