SOURCE: Alto Group Holdings, Inc.

Alto Group Holdings, Inc.

April 13, 2010 08:00 ET

Alto Group Holdings Announces Status on Ghana Project

NEW YORK, NY--(Marketwire - April 13, 2010) -  Alto Group Holdings, Inc. (OTCBB: ALTO) ("Alto Group" or the "Company") announces an update on the status of the Ghana project and the company's intention to remain in the region to continue its exploration efforts within West Africa.

The work program previously completely on the Ghana project generated promising results that outline the potential of a multi-million ounce resource. The excitement surrounding the potential value of this asset has triggered all interested parties involved to demand the assignment of ownership to the joint venture partner. Due to the joint venture partner's inability to timely complete the necessary assignment of the Nkwanta Concession in Ghana, management had decided to cancel any further work which had been planned previously until such time that the assignment issues are resolved and an agreement can be updated. All efforts are being taken to resolve the title issues in the hopes that the joint venture agreement dispute can be resolved quickly, and the drilling plan can resume in the near future.

Additionally, management is currently making arrangements to conclude a series of acquisitions elsewhere within the company's consolidation plan, which will forward management's goals for project diversification and added value to the overall property portfolio. We anticipate the announcement of the completion of a series of planned consolidation events shortly.

President and CEO Mark Daniel Klok has stated that the company plans to announce the election of the company's new Chief Financial Officer once the election process is completed in the coming days. This greatly anticipated addition to the company has been selected to augment the existing management team's ability to maintain the highest level of professionalism and add additional value as the company executes its plans for the future.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Alto Group Holdings, Inc.
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Mark Daniel Klok
President and CEO

Contact Information

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