Alto Ventures Ltd.
TSX VENTURE : ATV

Alto Ventures Ltd.

June 14, 2010 09:00 ET

Alto Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2010) - Alto Ventures Ltd. (TSX VENTURE:ATV) ("Alto" or the "Company") is pleased to announce it has raised $1,102,000 through the issuance of a combination of 13,150,000 flow through common shares at a price of $0.06 per share and 6,260,000 units at a price of $0.05 per unit. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant is exercisable at a price of $0.10 per share for a period of eighteen months expiring December 9, 2011, provided that if at any time, which is more than four (4) months and one day following Closing, the volume weighted average trading price of the common shares of the Company, as traded on the TSX Venture Exchange, exceeds $0.25 for 10 consecutive trading days, the Company shall have the right to accelerate the expiry date of the warrants to a date which is thirty (30) days following the date of the notice. 

The Company paid finder's fees to Limited Market Dealer of $63,000 and issued 1,085,000 warrants each exercisable to purchase one common share at a price of $0.10 for a period of one year expiring June 9, 2011. All securities issued in the private placement are subject to a four month hold period expiring October 10, 2010.

Part of the proceeds from the private placement will be used on the Company's 100 percent owned projects in the Beardmore-Geraldton gold belt where surface gold mineralization has been identified but has not been fully mapped or drilled. Geological mapping has started in the Beardmore-Geraldton area in preparation for diamond drilling that is planned for the latter part of 2010. In Quebec, the Company is planning diamond drilling for later this year on its wholly owned Alcudia property in the Urban-Barry gold belt. The Alcudia claims have a number of drill-ready targets and are strategically located adjacent to the Windfall Lake project from which high grade gold intercepts, up to 14.2 g/t gold over 52 m, were reported recently. The Company is also preparing a summer exploration program for its recently acquired Chilko property near Williams Lake British Columbia. Targets on the Chilko property include large tonnage bulk-mineable gold and copper porphyry deposits. The remainder of the placement proceeds will be used for general working capital.

For more details regarding the Company's projects, please visit our website at www.altoventures.com.

About Alto Ventures Ltd.

Alto Ventures Ltd. is a gold exploration and development company with a portfolio of highly prospective properties in the Canadian Shield. The Company is active in Quebec in the Abitibi greenstone belt where it has a number of projects including the Alcudia and Destiny gold properties. In Ontario the Company is exploring in the Beardmore-Geraldton gold belt and the Shebandowan gold district. Recently, with the acquisition of the Chilko project in British Columbia, the Company has added large tonnage bulk-mineable porphyry style deposits to its exploration targets.

For more details regarding the Company's projects, please visit our website at www.altoventures.com.

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.

ON BEHALF OF THE BOARD,

Mike Koziol, P. Geo., P. Eng., President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information