Alto Ventures Ltd. is pleased to announce the acquisition of six mining claims covering approximately 3,500 ha for diamond exploration near the new Pikoo diamond discovery in Saskatchewan. Alto's land holdings now total almost 72,000 ha of potentially favourable geology for diamonds (see Alto's news release dated December 31, 2013).
The six new claims are located approximately 140 km east of the Town of La Ronge, Saskatchewan and within 15 km from the Pikoo PK150 kimberlite. The diamond potential of the northern Saskatchewan Craton is being tested by North Arrow Minerals Inc. with the discovery in 2013 of several kimberiltes containing diamonds (see North Arrow Minerals news release dated November 5, 2013).
Terms for the acquisition of 100% interest in the six claims include total cash payments of $18,000 staged over two years and the issuance of 25,000 shares of Alto to the Vendor. When Alto becomes 100% owner of the claims it will grant to the Vendor a 2% Net Smelter Returns Royalty ("NSR"). Alto retains the right to buy back 1% of the NSR for $1 million. The acquisition is subject to acceptance by the TSX Venture Exchange.
This news release has been reviewed and approved for technical content by Mike Koziol, P. Geo, a qualified person under the provisions of National Instrument 43-101.
About Alto Ventures Ltd
Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold and base metals properties. The Company is active in Quebec in the Abitibi greenstone belt on the Destiny gold property and in Ontario, exploring in the Beardmore-Geraldton gold belt. In Manitoba, the Company is focused on the gold and base metals potential of the highly prospective but relatively under-explored Oxford Lake property. Recently, the Company started to diversify its portfolio with the acquisition of large packages of land in Saskatchewan that are prospective for hosting diamonds.
For more details regarding the Company's projects, please visit our website at www.altoventures.com.
ON BEHALF OF THE BOARD,
Richard J. Mazur, P. Geo., CEO