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Alto Elects Directors, Approves $1.8 Million Exploration Budget
And Grants Stock Options
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Vancouver, B.C., December 17, 2007. Alto Ventures Ltd. (ATV: TSX-V)
held its Annual General Meeting on December 14 and is pleased to
announce the re-election of Marian (Mike) Koziol, Kenneth Judge,
Richard Mazur, Paul Roberts and David Cowan to the Board of Directors.
Mr. John Prochnau has retired from the BOD but will continue to
actively serve the Company in the capacity of Technical and Special
Advisor. Mike Koziol (P. Eng., P. Geo.) was appointed President and CEO
following the AGM along with Kerry Beamish and Jacqueline Collins who
were appointed Chief Financial Officer and Corporate Secretary
respectively.
The Company has also approved a budget totalling $1.8 million for
exploration programs to be carried out in 2008. The programs will
concentrate in part on the Despinassy Project located north of Val
d'Or, Quebec and on the Company's projects in the Beardmore-Geraldton
Gold Belt. The Despinassy program will focus on the Despinassy Shear
and include approximately 4,000 m of
Diamond drilling as well as
airborne electromagnetic and magnetometer surveys over the property.
Drilling is scheduled to start in mid-January with the twin objectives
of further testing the Darla Zone where previous work intersected gold
values of 19.5 g/t across 2.1 m (see Alto news release dated March 29
2006) as well as at Zone 20 where historical drilling intersected gold
values of 4.6 g/t across 2.0 m and 1.0 g/t across 10.4 m. Drilling will
also test the west end of the DAC Deposit where Alto estimated an
NI43-101 compliant resource of 167,000 tonnes averaging 6.88 g/t gold
in the Indicated category and an additional 445,000 tonnes averaging
4.46 g/t gold in the Inferred category. The deposit remains open along
strike to the west and to depth (see Alto news release dated November
27, 2006).
The Company will continue aggressive exploration on its Cote-801, Mud
Lake and Greenoaks projects in the Beardmore-Geraldton Gold Belt in
2008. The planned programs include mechanical trenching and
Diamonddrilling and are scheduled to start in the spring after the snow and
frost have melted away. This work is in addition to the current
Diamonddrilling campaign that is in progress on the Alto Ventures Ltd-Wescan
Goldfields Inc Mud Lake Property (see Alto news release dated November
22 2007).
As per Alto's stock option plan, the Company has granted to certain of
its directors, officers, employees and consultants incentive stock
options to purchase up to an aggregate of 1,795,000 common shares
exercisable on or before December 16, 2012 at a price of $0.20 per
share.
Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO is the
Qualified Person who has reviewed and approved the content of 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 and CEO
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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