| ||Wed Jun 13, 2007|
Alto Teams Up With Wescan To Explore The Beardmore Gold Belt
| ||Vancouver, B.C., June 13, 2007. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce that it has entered into an Option Agreement with Wescan Goldfield Inc. ("Wescan"), (WGF: TSX-V). Under the terms of the Agreement, Wescan can earn a 50% interest in Alto's Mud Lake Project by making $600,000 in exploration expenditures and issuing 150,000 Wescan shares to Alto over a two year period. Upon exercising of the option by Wescan, the parties will enter into a 50/50 joint venture agreement to carry out ongoing exploration or development. Alto will remain the project operator until the completion of a positive pre-feasibility study, at which time Wescan will have the option to assume the role of operator. The Agreement is subject to the approval of the TSX Venture Exchange.|
The Mud Lake Project consists of 2,592 hectares (ha) and is located 25 kilometres (km) northeast of Beardmore, Ontario, in the Beardmore-Geraldton gold belt where historical production has exceeded four million ounces of gold. A major auriferous shear extends for over six kms on the property but was never drilled prior to Alto's 2007 winter program. That drilling program tested three of twelve surface gold showings and confirmed the existence of the strong shear system, the Mud Lake Shear, which contains gold-bearing quartz veins at each of the three showings. Gold values up to 13.9 g/t across 1.0 m were intersected within a wider zone of gold mineralization that assays 3.39 g/t across 6.1 m. (please see Alto news releases dated March 6 and March 20, 2007).
Alto is pleased to have Wescan join the growing number of companies exploring in the Beardmore-Geraldton area. Wescan has an experienced management team whose members have participated in bringing gold deposits into production in Saskatchewan and Central Asia. Entering into this agreement with Wescan is consistent with Alto's joint venture strategy to assist in advancing its projects.
Mike Koziol, P. Geo., P.Eng. and Alto's President and Director is the Qualified Person that has reviewed and approved this news release.
About Alto Ventures Ltd
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of eleven properties in the Canadian Shield. With a pipeline of quality projects, the Company's approach to maximizing opportunities while minimizing exploration risk is to attract well financed partners with the technical expertise to take the projects onto feasibility and subsequently production.
Alto's Management and Board of Directors have a long and successful track record of creating shareholder value through systematic exploration, acquisitions and discovery. The Company is currently active in Quebec where it is focussed on the Despinassy project in the Abitibi Greenstone Belt and in Ontario in the Shebandowan and Beardmore gold districts.
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
Investor Relations Manager
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Email: [email protected]
You can view the Next News Releases item: Thu Jul 5, 2007, Alto Samples 8 g/t Gold at Cote-Archie Lake Project, Beardmoregeraldton Gold Belt
You can view the Previous News Releases item: Wed May 16, 2007, Alto Ventures Retains Investor Relations Professional
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