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Re: News Releases - Thursday, November 22, 2007
Alto-Wescan Start Drilling Mud Lake Project, Beardmore-Geraldton
Gold Belt
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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
Diamonddrilling 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.
President
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: mark@altoventures.com Website: www.altoventures.com
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Copyright (c) 2007 ALTO VENTURES LTD. (ATV) All rights reserved. For
more information visit our website at http://www.altoventures.com/ or
send mailto:info@altoventures.com
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