SOURCE: Alto Group Holdings, Inc.

Alto Group Holdings, Inc.

April 07, 2011 09:21 ET

Alto Group Holdings Announces Approval of Commercial Exploitation License of Bouge Gold Project

NEW YORK, NY--(Marketwire - April 7, 2011) -  Alto Group Holdings, Inc. (OTCBB: ALTO) ("Alto Group" or the "Company"), an innovative mining and commodities trade company headquartered in New York, announces approval of commercial exploitation license of the Bouge gold project.

On November 29, 2010, the company executed an agreement to acquire mineral rights of the Bogue River Dredging Concession in Mali, West Africa. The Bogue River Concession comprises a 10 kilometer long permit with 500 meter wide easement on both sides on the Bogue River in the Bougouni Region of Mali. This newly approved license will now allow this gold property to be put into production commercially and this event marks the needed approval to take the project into the next phase of operations.


In December 2010, the Company acquired a Nessie N8DX cutter head dredge to be deployed in the Bogue River Concession, which is able to extract material at the rate of 100 yards per hour. Although the dredge has not yet been put into operation, assuming that the Bogue River concession contains an average grade of 1 gram of gold per cubic yard (approximately $43.00 at the present bullion spot price), if the Company's dredge were to operate consistently for 12 hours per day for 30 days, the gross production potential of this dredge, and others that may be planned for the Bogue River Concession with similar operational and yield characteristics, could approximate over $1.5 million in gross revenue per month.

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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

Contact Information

  • Alto Group Holdings, Inc.
    245 Park Ave - 24th Floor
    New York, NY 10167