Vancouver, B.C., April 29, 2010. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce a non-brokered private placement to raise up to $1,500,000 through the issuance of a combination of flow through common shares at a price of $0.08 per share and units at a price of $0.07 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable at a price of $0.12 per share for a period of one year from closing. Finders' fees will be payable on a portion of the private placement in accordance with the policies of the TSX Venture Exchange. The private placement is subject to regulatory approval.
Part of the proceeds from the private placement will be used on the Company's 100 percent owned projects in the Beardmore-Geraldton gold belt where surface gold mineralization has been identified but has not been fully mapped or drilled. Work in the Beardmore-Geraldton area will start in May with geological mapping, mechanical stripping and sampling to be followed by diamond drilling later this summer. In Quebec, the Company is planning diamond drilling for later this year on its wholly owned Alcudia property in the Urban-Barry gold belt. The Alcudia claims have a number of drill-ready targets and are strategically located adjacent to the Windfall Lake project from which high grade gold intercepts, up to 14.2 g/t gold over 52 m, were reported recently. The Company is also preparing a summer exploration program for its recently acquired Chilko property near Williams Lake British Columbia. Targets on the Chilko property include large tonnage bulk-mineable gold and copper porphyry deposits. The remainder of the placement proceeds will be used for general working capital.
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.
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
President & CEO
Neither the 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