Vancouver, B.C., May 15, 2006. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce that it has acquired a 100% interest in 34 claim units covering 544 hectares (ha) immediately adjacent to its Coldstream gold property, located 100 kilometres (km) west of Thunder Bay, Ontario in the Shebandowan greenstone belt. The purchase of these claims, combined with the Burchell Lake claims recently purchased from Inco Limited (press release of April 26, 2006) increases Alto's land holdings in the Shebandowan area to 2,800 ha.
This acquisition fits with Alto's strategic plan to consolidate a significant land position in the area of its Coldstream gold project, located 6 km northeast of the Moss Lake gold deposit. The Moss Lake deposit, with a historical resource of 60 million tonnes grading 1.1 grams gold per tonne (as reported by Moss Lake Gold Mines Ltd.), is in a similar geological environment as Alto's East Coldstream gold deposit. Alto is commencing a 2,000 metre drill program in late May to evaluate the East Coldstream gold zone. The diamond drilling contractor has visited the property to assess logistics and preparations for the diamond drill program are underway. Additional details about the Coldstream project can be found on the Company's website at www.altoventures.com.
Alto reimbursed the vendors its costs of staking and recording in the amount of $2,900, paid $4,000 cash and issued 50,000 common shares of the Company for the purchase of these claims. The purchase is subject to regulatory approval. Mike Koziol, P.Geo, P. Eng, Alto's Vice President, Exploration is the Company's Qualified Person that has reviewed the information in this announcement.
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of nine properties in the Canadian Shield. The Company is focused on projects located within the Abitibi Greenstone Belt in Ontario and Quebec as well as in historic gold producing districts.
ON BEHALF OF THE BOARD
Richard Mazur, P.Geo.
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
Timea Carlsen
Manager of Corporate Communications
604-638-3949
info@altoventures.com
