| ||Wed Sep 5, 2007|
Alto Acquires New Project In The Beardmore-Geralton Gold Belt
| ||Vancouver, B.C., September 5, 2007. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce that it has acquired a fourth gold exploration project, the Cote-801 Property, in the Beardmore-Geraldton Gold Belt. The property is located along Provincial Highway 11 approximately 20 km east of the Town of Beardmore, Ontario and 7 km south of Alto's Mud Lake Project.|
Under terms of an Option to Purchase Agreement, Alto has the option to acquire 100% interest in the 976 ha property by making cash payments totalling $30,000 and issuing 90,000 Alto shares over two years to the Vendors. The Vendors retain a 2% Net Smelter Returns royalty and Alto has the option to buy back 1% for $1 million. The Option Agreement is subject to acceptance by the TSX Venture Exchange.
Previous work in the project area dates back to the early 1990s and was limited to prospecting, ground geophysics, mechanical stripping and sampling. This work by Freewest Resources Inc. resulted in discovery of highly anomalous gold values along a 200 m corridor. Results reported by Freewest include gold values up to 61.5 g/t (1.8 oz/ton) in grab samples and up to 4.5 g/t gold across 0.3m in surface channel samples. The gold is associated with pyrite, arsenopyrite and quartz veins in sheared and sulphidized iron formation bands. These results are very encouraging as the style of mineralization found on the Cote-801 Project is similar to the gold deposits previously mined in the Geraldton area. Parts of the project area were clear-cut logged during the winters of 2006 and 2007 and the logging activities exposed additional zones of shearing, sulphide mineralization and quartz veins that have not been previously sampled.
Historically, the Beardmore-Geraldton Gold Belt produced over 4.1 million ounces of gold and is now experiencing a resurgence of exploration with extensive staking of claims covering huge sections of the gold belt. Alto is well positioned to participate in the increasing exploration activity with four projects in the gold belt. Recently, Alto entered into Option Agreements on its Mud Lake Project with Wescan Goldfields Inc. (Alto news release dated June 13, 2007) and on its Cote-Archie Lake Project with Kodiak Exploration Ltd. (Alto news release dated August 9, 2007).
The Alto-Wescan partnership has approved a $300,000 exploration program for the Mud Lake property that will include surface work to start in September followed by diamond drilling of 18 to 20 holes (Alto news release dated August 21, 2007). A planned exploration program for the Cote-801 Project will include prospecting, mechanical stripping and sampling in preparation for diamond drilling. The Cote-801 program will start after the Mud Lake surface work is completed in late September.
Mike Koziol, P. Geo., P.Eng., Alto's President and Director is the Qualified Person who has reviewed and approved the content of 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.
President and Director
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 Oct 4, 2007, Alto-Wescan Finalize Drill Contract For Mud Lake Project, Beardmore-Geraldton Gold Belt
You can view the Previous News Releases item: Tue Aug 21, 2007, Alto-Wescan Joint Venture Approves $300,000 Fall Exploration Program at Mud Lake, Beardmore-Geralton Gold Belt
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