Aldrin Resource Corp.: Corporate Update
09.01.2012 | Marketwire
VANCOUVER, 01/09/12 - Aldrin Resource Corp. (TSX VENTURE: ALN) ('Aldrin') wishes to update shareholders on its exploration activities as it enters 2012. After careful deliberation, the Board of Directors has decided to alter Aldrin's resource strategy. Effective immediately, Aldrin will cease development of its two remaining projects in the Yukon Territory. Aldrin will allow the option agreements covering the IND project located 38 kilometres south of Dawson City and the Brew project located 100 kilometres south of Dawson City to lapse.The Board has also decided that further development of the Jenny Hill/Black Hills Prospect and Slate Mountain Prospect in Nevada by Aldrin is not warranted. Aldrin has terminated the Definitive Agreement respecting these Nevada prospects.
CEO Johnathan More states: 'We will be embarking in a new direction within the resource sector in 2012. We will be evaluating a number of prospective resource exploration properties and will advise shareholders at such time as a definitive agreement is reached on rights to a new prospect. As we enter this new phase, we have no debt and continue to have a strong cash position.'
Aldrin Resource Corp. is a Canadian-based mineral exploration company trading on the TSX Venture Exchange. Aldrin has until recently been focused on the development and exploration of strategic gold properties located in Canada's Yukon Territory and in the state of Nevada, USA.
ON BEHALF OF THE BOARD OF DIRECTORS
Johnathan More
President and CEO
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.
Contacts:
Aldrin Resource Corp.
Johnathan More, President and CEO
604-687-7741
604-662-3904 (FAX)
www.aldrinresourcecorp.com