| ||Thu Dec 10, 2009|
Alto Announces Flow Through Financing
| ||Vancouver, B.C., December, 10, 2009. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce a private placement to raise up to $300,000 through the issuance of flow through common shares at a price of $0.06 per share. Finders' fees will be payable in connection with the private placement in accordance with the policies of the TSX Venture Exchange. The private placement is subject to regulatory approval.|
The flow-through funds raised will be used to complete a diamond drilling program on the Company's 100% owned Vassal Project which is located west of its Destiny Gold Property. The exploration model being evaluated at the Vassal Project is that of gold associated with copper, zinc and silver rich sulphides similar in style of mineralisation to Agnico-Eagle's currently producing LaRonde Mine in Quebec. Proceeds from this placing will also be used to advance exploration on the Company's Beardmore area projects. The application of the proceeds of this financing to these activities will constitute Canadian exploration expenses (as defined in the Income Tax Act).
About Alto Ventures Ltd
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of highly prospective properties in the Canadian Shield. The Company is currently active in Quebec where it is focussed on the Destiny Gold project in the Abitibi Greenstone Belt and in Ontario in the Beardmore and Shebandowan gold districts.
For more details regarding the Company's projects, please visit our website at www.altoventures.com.
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
President & CEO
Neither 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.
For further information contact:
Investor Relations Manager
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Email: [email protected]
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