SOURCE: Alto Group Holdings, Inc.

Alto Group Holdings, Inc.

February 23, 2010 08:00 ET

Alto Group Moves Ahead With Plans in Ghana

NEW YORK, NY--(Marketwire - February 23, 2010) - Alto Group Holdings, Inc. (OTCBB: ALTO) ("Alto Group" or the "Company") announced today its intention to move forward towards the drilling phase within the Nkwanta Concession in Ghana, West Africa pending the completion of the concession assignment process with Castle Peak Mining Company ("Castle Peak").

The process to conclude the concession assignment with Castle Peak is underway and, as outlined in the Company's Joint Venture Agreement, will be the final step before the Golden Arrow drilling program can be initiated. The Golden Arrow Vein is the primary target of the ongoing exploration program at the Alto-Ashanti Project in Ghana. Additionally, the Company has undertaken a preliminary assessment of several prospective locations near the target claims and proposes to work with Castle Peak towards the mutual development of these potentially productive locations.

Alto Group is very pleased by the pace of events and the excellent working relations at the Alto-Ashanti Project. Besides its favored international recognition in the mining sector, Ghana remains one of the most desirable mineral extraction regions in West Africa due to the government's progressive institutional development and stable multiparty democratic environment. Furthermore, Ghana's population provides broad availability of low-cost labor as well as an ample supply of highly trained workers for mining and infrastructural support. Management looks forward to developing an increased presence in the country.

In related news, Company management further wishes to announce plans to mitigate potential geographic, political and concentration risks for shareholders through the proposed acquisition of additional exploratory projects into the Company's portfolio. Management maintains excellent relations with several potential vendors or joint venture partners offering access to prospective high value mineral claims at various locations around the globe. The Company aims to establish a short list of highly prospective and economically favorable opportunities for consideration. This planned strategic diversification is intended to increase shareholder value and enhance the long term stability of the Company. Announcements regarding future projects will be made available as details are forthcoming.

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

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