SOURCE: El Alto Holdings AG

March 12, 2010 15:42 ET

El Alto Holdings AG Acquires Blue Crown Asset Management Inc.

ZUG, SWITZERLAND--(Marketwire - March 12, 2010) -  El Alto Holdings AG -- (FRANKFURT: EAS) -- has concluded negotiations to acquire and operate Blue Crown Asset Management Inc. in a one (1) for one (1) share conversion. Blue Crown Asset Management, Inc. is a junior exploration company based in Tulsa, Oklahoma and is committed to creating shareholder value through vigorous acquisition, exploration programs, and cost-efficient production. The company's unique position of strength is attributed to our deep history in Colombia and South America. The Blue Crown acquisition complements El Alto's existing mining property holdings portfolio in South America.

The acquisition closing date is March 15, 2010.

The company notes that Blue Crown will continue to honor its 4% annual payout.

www.elaltoholdings.com

About El Alto Holdings

El Alto Holdings AG, ( www.elaltoholdings.com ) owns substantial mineral resource assets in Bolivia, South America. With offices in both Switzerland and Bolivia, El Alto is a mid-size mining company and is committed to becoming a world-class gold and mineral producer. The Company has 3 concessions covering 17,300 hectares in the Santa Cruz region of Bolivia and is now in the process of putting the C-Zone back into production. The company also owns 51% of 16 mineral concessions in Bolivia covering 4,700 hectares, is currently negotiating a bigger stake in all of these concessions and is also in the process of putting these properties back into production. It is the Company's goal to develop a group of producing gold mines in South America. Our strategy is to acquire either distressed operations or distressed properties that are currently producing or have been in production and use our company's managerial and geological expertise to put these properties back into an economic operation.

About Blue Crown Asset Management

Blue Crown Asset Management Inc. is a junior exploration company committed to creating shareholder value by achieving prosperity through vigorous acquisition, exploration programs, and cost-efficient production. Our unique position of strength is attributed to our deep history in Colombia, South America, as well as our association with several government ministries. We have access to premium land locations with the opportunity to explore and stake these properties.

We currently have access to numerous gold, silver and other precious metals properties throughout Colombia, with a working relationship in many of those properties designated and identified as 'drill ready'. 

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Contact Information

  • Contact:
    Drew Miller
    Investor Relations
    El Alto Holdings Inc.
    918-960-8599
    Email: elaltoinc@gmail.com