Aldrin Resource Corp.
TSX VENTURE : ALN

Aldrin Resource Corp.

September 07, 2012 09:30 ET

Aldrin Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2012) - Aldrin Resource Corp. (TSX VENTURE:ALN) ("Aldrin") wishes to provide an update to shareholders on its evolving strategic resource direction. As previously announced in early 2012, the Board of Directors decided to alter Aldrin's resource strategy. This was done following careful deliberation and assessment of where investment return to shareholders could best be optimized. Accordingly, and in the best interests of all shareholders, Aldrin stopped the development of its hard rock Yukon Territory projects and ceased further development of certain Nevada hard rock mining prospects.

For the past nine months we have been embarking in a new direction within the resource sector. To further strengthen Aldrin's ability to execute and succeed in this, we have been pleased to announce in January and July of 2012, the addition of two new board members with extensive operational and governance experience in the oil and gas sector. Aldrin is currently in the process of evaluating and carrying out due diligence on several advanced stage oil and gas projects within North America. When Aldrin has completed these assessments and evaluative work, we anticipate making further clarifying announcements to the shareholders including all details of any new project(s).

As Aldrin enters this new phase of strategy we continue to have no debt and a strong balance sheet with a cash position in excess of $1 million.

Aldrin is a Canadian-based resource exploration company trading on the TSX Venture Exchange that operates in the resource exploration sector of North America.

ON BEHALF OF THE BOARD OF DIRECTORS

Robert Dardi, Chairman and Director

Issued Share Capital: 40,050,000

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.
    Robert Dardi
    Chairman and Director
    604-687-7741
    604-662-3904 (FAX)