SOURCE: Alto Group Holdings, Inc.

Alto Group Holdings, Inc.

March 18, 2011 09:20 ET

Alto Group Holdings Announces Status Update on the La Cienega Project

NEW YORK, NY--(Marketwire - March 18, 2011) - Alto Group Holdings, Inc. (OTCQB: ALTO) ("Alto Group" or the "Company"), an innovative mining and commodities trade company headquartered in New York, announces update on the La Cienega Project

The La Cienega projects initial move and setup is being personally managed and overseen by one of our operations managers Mr. Steven Gorin. He has reported to management from within Mexico that he and his staff are negotiating the lease of an Excavator, Bull Dozer and Front End Loader in addition to items of rolling stock the company purchased to begin bulk sampling and small scale production. Mr. Gorin has an excellent track record and reputation as an operator spanning over 12 years in the mining sector. He is fully committed to the completion of this last step to begin operations and management continues to support his efforts despite unforeseen delays which have happened as Mr. Gorin adjusts his plan and timelines to begin on site operations. His recent recommendation has been to avoid very costly import taxes at the Mexican border with moving the three specific items mentioned above and alternatively lease this equipment within the country to reduce large upfront costs.

President and CEO Mr. Mark Daniel Klok is quoted as saying, "The company has given Mr. Gorin the capital to perform the job of moving the purchased equipment, set up operation's and we expect completion without further delay. I recently have returned from a due diligence trip to south east Asia where I had been visiting a producing gold mining project that is a consolidation target in the near future for our company. Now with my return from that successful trip I'm personally planning a site visit to conclude the oversight of Mr. Gorin's start of operations. Additionally I understand the time it takes to assemble the resources, handle logistics, setting up in remote locations and I support his efforts to begin work on this promising project shortly."

About the La Cienega Project

The La Cienega concessions comprise approximately 200,000 hectares or almost 500,000 acres in the heart of the famous Golden Triangle district of the Mojave in Northern Sonora, Mexico. The district has had a spectacular history of production using very primitive methods dating back 400 years having produced 10 million ounces of gold primarily from desert placer deposits, but also from high grade hard rock lode deposits. The upper portion of the La Cienega projects deposit has an average thickness of 3 meters of unconsolidated gravel overlying a "Caliche" surface. The initial test work that was done in mid 2008 was designed to evaluate portions of the unconsolidated material, including areas of unconsolidated material within the conglomerates. At that time it was estimated that the older conglomerate area has a surface of 250 hectares (500 acres) or a potential volume of 32,000,000 cubic meters (approx. 10,000,000 cubic yards). Assuming a cut-off of 2 grams per cubic meter, a revised gold price of $1000.00 per once the placer was given a net potential value of approximately 120 million dollars.

The La Cienega placer area is in an extremely favorable geological setting with a rich history of past small scale hand mining production and is relatively accessible. The hard rock or lode resource has not been estimated because drilling has not tested the ore grade, and depth and lateral extent of mineralization. Further exploration and bulk sampling of the placer and of the lode deposits will provide an accrete estimate of the entire project value.

View the La Cienega Project: http://www.altomines.com/lacienega.html

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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.

ON BEHALF OF THE BOARD
Alto Group Holdings, Inc.
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Mark Daniel Klok
President and CEO

Contact Information

  • Mark Daniel Klok
    President and CEO
    Alto Group Holdings Inc.
    245 Park Ave - 24th Floor
    New York, NY 10167
    212-803-8187