| ||Thu Nov 4, 2004|
Acquisition of Mud Lake Gold Property and Engagement of Pacific Orca Capital Corp.
| ||Alto Ventures Ltd. (the "Company") (TSX.V: ATV), is pleased to announce that further to its news release of September 28, 2004, the TSX Venture Exchange (the "Exchange") has accepted for filing the acquisition of the Mud Lake gold property (the "Property"), located 25 kilometres northeast of Beardmore, Ontario. Under the terms of the option agreement with the vendors, the Company has agreed to consideration over a two year period of $40,000 in cash payments and the issuance of 150,000 common shares. The shares issued will be subject to a four month hold period pursuant to the policies of the Exchange. The vendors will retain a 2.5% net smelter return royalty (NSR) and the Company has the right to buyback 1.5% of the NSR for $500,000. The Mud Lake property consists of 1,664 hectares located in the Geraldton -- Beardmore gold camp.|
The Company also announces that effective November 1, 2004 it has entered into an agreement with Pacific Orca Capital Corp. ("Pacific Orca") of White Rock, BC to engage Pacific Orca as the Company's Investor Relations Consultant. The Investor Relations program will focus on shareholder communications and corporate development, building an active following of investment professionals in Canada. Under the terms of the agreement the Company has agreed to pay to Pacific Orca a monthly fee of $3,500 for a three month period with an option to extend for a further three months.
About Pacific Orca Capital Corp.
Pacific Orca Capital and its associates monitor all segments of the investment industry and are involved in the corporate communications of publicly traded companies. The company focuses on helping to develop junior or early stage companies by bringing them to the attention of brokerage firms, which typically do not provide analyst coverage for smaller capitalized companies. Pacific Orca is involved in all levels of financing, direct or indirect by raising capital investment with angel investors, retail brokerage and institutional firms across Canada.
About Alto Ventures Ltd.
Alto is a gold exploration and development company with an exceptional portfolio of properties in the Canadian Shield. The Company is focused on exploration and acquisition of mineral properties in the Abitibi greenstone belt in Ontario and Quebec as well as properties in the western Superior Province of Ontario and Manitoba.
ON BEHALF OF THE BOARD:
President & CEO
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
For further information, contact:
President & CEO
Alto Ventures Ltd.
Suite 910-475 Howe Street
Vancouver, B.C. V6C 2B3
Email: [email protected]
You can view the Next News Releases item: Wed Nov 17, 2004, Cote - Archie Lake Gold Property, Beardmore - Geraldton Gold District Encouraging Trenching Results
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