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Alto Teams Up With Wescan To Explore The Beardmore Gold Belt
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Vancouver, B.C., June 13, 2007. Alto Ventures Ltd. (ATV: TSX-V) is
pleased to announce that it has entered into an Option Agreement with
Wescan Goldfield Inc. ("Wescan"), (WGF: TSX-V). Under the terms of the
Agreement, Wescan can earn a 50% interest in Alto's Mud Lake Project by
making $600,000 in exploration expenditures and issuing 150,000 Wescan
shares to Alto over a two year period. Upon exercising of the option by
Wescan, the parties will enter into a 50/50 joint venture agreement to
carry out ongoing exploration or development. Alto will remain the
project operator until the completion of a positive pre-feasibility
study, at which time Wescan will have the option to assume the role of
operator. The Agreement is subject to the approval of the TSX Venture
Exchange.
The Mud Lake Project consists of 2,592 hectares (ha) and is located 25
kilometres (km) northeast of Beardmore, Ontario, in the
Beardmore-Geraldton gold belt where historical production has exceeded
four million ounces of gold. A major auriferous shear extends for over
six kms on the property but was never drilled prior to Alto's 2007
winter program. That drilling program tested three of twelve surface
gold showings and confirmed the existence of the strong shear system,
the Mud Lake Shear, which contains gold-bearing quartz veins at each of
the three showings. Gold values up to 13.9 g/t across 1.0 m were
intersected within a wider zone of gold mineralization that assays 3.39
g/t across 6.1 m. (please see Alto news releases dated March 6 and
March 20, 2007).
Alto is pleased to have Wescan join the growing number of companies
exploring in the Beardmore-Geraldton area. Wescan has an experienced
management team whose members have participated in bringing gold
deposits into production in Saskatchewan and Central Asia. Entering
into this agreement with Wescan is consistent with Alto's joint venture
strategy to assist in advancing its projects.
Mike Koziol, P. Geo., P.Eng. and Alto's President and Director is the
Qualified Person that 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 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
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: 604-638-3949
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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