| ||Thu Nov 22, 2007|
Alto-Wescan Start Drilling Mud Lake Project, Beardmore-Geraldton Gold Belt
| ||Vancouver, B.C., November 22, 2007. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce that diamond drilling has commenced on the Alto-Wescan Goldfield Inc. (WGF: TSX-V) Mud Lake Project in the Beardmore-Geraldton Gold Belt. The Mud Lake Property shares a common boundary with the Hercules Property, located to the north of Mud Lake, where Kodiak Exploration Ltd. recently reported the discovery of significant gold mineralization. To the south of Mud Lake, Ontex Resources Ltd. is exploring their Brookbank Gold Deposit which is reported to contain 629,900 ounces of gold (see Ontex news release dated November 15, 2007).|
The planned drill program consists of 18 to 20 holes and will test targets along the Mud Lake Shear Zone (MLS). Previous work identified twelve surface gold occurrences along a six kilometre segment of the MLS and only three were drilled in the past (see Alto news releases dated March 6 and March 20, 2007). The drilling will follow-up on gold mineralization intersected at the three previously drilled occurrences (up to 13.9 g/t gold across 1.0 m were intersected within a wider zone of gold mineralization that assays 3.39 g/t across 6.1 m) and test for the first time, another three targets along the MLS which have yet to be drilled. This work is part of a longer term strategy to evaluate each of the gold targets with diamond drilling and start to delineate in detail those that display continuity of mineralization and grade.
The drill program is estimated to take up to four weeks to complete and because of the approaching Christmas Holidays and overwhelming industry demand for assay-laboratory services, the gold assay results will not be anticipated before January 2008.
In June 2007, Alto and Wescan entered into an Option Agreement on the Mud Lake Property. Under the terms of the Option Agreement, Wescan can earn 50% in the property by funding $600,000 in exploration and issuing a total of 150,000 Wescan shares to Alto over two years. The diamond drilling program is funded by Wescan in accordance with the terms of the Option Agreement.
Mike Koziol, P. Geo., P.Eng. and Alto's President and Director is the Qualified Person who 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 twelve 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 Beardmore and Shebandowan 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:
Mark Prosser Investor Relations Manager ALTO VENTURES LTD. 910-475 Howe Street Vancouver, BC, V6C 2B3 Tel: 604-638-3947 Fax: 604-689-3609 Email: [email protected] Website: www.altoventures.com
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