SOURCE: Alto Group Holdings, Inc.

Alto Group Holdings, Inc.

January 10, 2010 13:47 ET

Alto Group Holdings, Inc. Announces Execution of Definitive Agreement to Acquire West African Gold Concessions

NEW YORK, NY--(Marketwire - January 10, 2010) - Alto Group Holdings, Inc. (OTCBB: ALTO) ("Alto Group Holdings," "Alto" or the "Company"), is very pleased to announce that the Company has executed a formal definitive Joint Venture agreement with Castle Peak Mining, Ltd. whereby the Company will acquire a 70% participating interest in the Nkwanta Mining Concession as its primary target and will exercise its option on selecting a 50% participating interest in one of the two bordering concessions known as Ayiem and Asuogya. The option will designate a secondary target from the Castle Peak projects in Ghana, West Africa by forming a joint venture with the mineral rights owner.

Alto has selected the Nkwanta concession as its primary target in response to the discovery of the "Golden Arrow" high grade vein system and plans to make Nkwanta its number one priority target for exploration. The other two optioned concessions; Ayiem and Asuogya, will be explored in the upcoming months and the Company will determine which concession shall be its secondary target for which it will continue to hold a 50% participating interest. The company aims to finalize this determination by December 31, 2010.

The terms of the agreement include exploration expenditure commitments, a schedule of cash payments and issuance of restricted shares. As part of the agreement, the Company has commenced an aggressive exploration and development program in Ghana. Field crews have been mobilized and work has begun on the concessions. Alto has assembled a high quality team to conduct the work supervised by persons classed a Q.P. (Qualified Person under N.I. Policy 43-101).

Alto will spend $100,000 on the Phase 1 program for property evaluation in order to select the two primary and secondary acquisitions. Additional work commitments of $1,500,000 for Phase 2 exploration throughout the calendar year 2010 and further expenditures of $1,500,000 in 2011 and $2,500,000 in 2012 amount to a cumulative work expenditure of $5.5 million on the properties (All figures in US dollars).

Alto has agreed to pay for the expenses related to mineral licenses, permitting, legal fees and regulatory reporting as required to maintain the projects in good standing with the Ghana ministry and mineral commission. The Company will be utilizing the existing infrastructure of Castle Peak through use of their Ghana offices, staff and geological team to conduct its exploration activities.

The Company is pleased to invite interested parties and stakeholders to visit our website at www.altomines.com

The Company will file requisite details of the agreement as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.

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 mineral 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.

ON BEHALF OF THE BOARD

Alto Group Holdings, Inc.
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Natalie Bannister, Director

Contact Information

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