SOURCE: Alto Group Holdings, Inc.

Alto Group Holdings, Inc.

February 15, 2011 08:00 ET

Alto Group Holdings Announces Acquisition of Mineral Rights in 24 Gold & Diamond Concessions Within Sierra Leone, West Africa

NEW YORK, NY--(Marketwire - February 15, 2011) - Alto Group Holdings, Inc. (OTCBB: ALTO) ("Alto Group" or the "Company"), an innovative mining and commodities trade company headquartered in New York, announces company completes acquisition of mineral rights within 24 gold and diamond concessions within Sierra Leone, West Africa.

Alto has secured through its partnership with St. Watson Mining Company, 24 quality gold and diamond mining concessions in Sierra Leone. There are a total of 20 concessions in the Levuma region and 4 concessions in the Punduru Chiefdoms which are prolific gold and diamond fields ready for exploration and development.

About mining in Sierra Leone:

Prior to the civil war, Sierra Leone had established an active mining sector built upon significant exports of diamonds, rutile and bauxite. Although relatively modest by global standards, the sector was significant in terms of the country's population and GDP. It underpinned much of the country's formal economic activity, contributing 20% of GDP, as much as 15% of fiscal revenues, and accounting for over 90% of exports. Mining and quarrying provided a livelihood for over 250,000 people, and employed about 14% of the total direct and indirect labour force. Despite the sector operating at only a fraction of its potential, its contribution was significant enough to qualify Sierra Leone as a resource-rich country. The mining sector has played an instrumental role in Sierra Leone's economic recovery. In four of the last five years, the rate of growth recorded in the mining sector has exceeded that in the remainder of the economy. The resurgence of the mining sector has been two-fold. First, the Government -- with external support -- has had considerable success in increasing the proportion of diamonds mined that pass through official channels. Official exports have increased to 582,000 carats in 2006, with 84 per cent of this amount being mined by artisanal and small-scale miners. The U.S. dollar value per carat has also increased significantly, suggesting that larger, more valuable diamonds are increasingly returning to official export channels.

Second, three mechanized mines have been reactivated. The country's first Kimberlite diamond mine has been operating since 2004 and is progressively expanding production. Also, both of the rutile and bauxite deposits that were developed before the war are once again being mined. The rutile mine is on-track to return to pre-war production levels this year, and plans are in place to expand operations further. The mine's owners have also acquired the rights to mine bauxite at Moyamba and successfully produced over 1 million tons in 2006.

About diamonds within the region:

Global production of diamonds reached 179 million carats in 2006, valued at over US$ 13 billion. Official diamond exports from Sierra Leone have begun to plateau. Total carats exported fell in 2005 and 2006, although the price realized per carat continues to rise. The only Kimberlite mine operator, Koidu Holdings, was forced to defer plans to mine a second pipe when the ore grade turned out to be sub-economic (although it is now understood to be investigating plans to mine a second pipe in late 2008 and proposes to develop its Tongo resources (kimberlite dyke deposit) as early as 2009.

About Gold within the region:

Globally, mineral exploration for gold has grown significantly in recent years, driven largely by the rapid acceleration in prices since 2004. The rapid emergence of a middle class in both China and India has led to significant increases in demand, while total gold output has remained largely unchanged since 2000. A recent characteristic of the gold market that could benefit Sierra Leone is the shifting pattern of global gold production away from the traditional producers. South Africa, Australia, the United States and Canada have all seen significant falls in production over the last decade, while new gold producing countries like Ghana and Tanzania have rapidly risen in prominence.

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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

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