Vancouver, British Columbia--(Newsfile Corp. - June 7, 2017) - Alto Ventures Ltd. (TSXV: ATV) ("Alto") is pleased to announce it has completed the sale of a 100% interest in the 299 hectare Windfall East project to Beaufield Resources Inc. ("Beaufield"), adjacent to Osisko's Windfall deposit and on trend from Osisko's new Lynx discovery in Urban-Barry Township, Quebec.
At Closing, Alto received $300,000 and 2,750,000 Beaufield shares. Alto also retains a 1% Net Smelter Return Royalty ("NSR") on the property with a buyback provision for 0.5% of the NSR by Beaufield for $1 million. Concurrently with this acquisition, Beaufield subscribed for 2,916,667 shares of Alto at a price of $0.12 per share for proceeds of $350,000 (the "Private Placement Shares"). The Private Placement Shares are subject to a four month hold period expiring October 2, 2017.
About Alto Ventures:
Alto Ventures Ltd. is an exploration and development company with a portfolio of 100% owned Canadian gold properties. The Company is active in the Abitibi greenstone belt in Quebec on the Destiny gold property and is exploring in the Beardmore-Geraldton gold belt in Ontario. In Manitoba, the Company is focused on the gold and base metals potential of the highly prospective but relatively under-explored Oxford Lake property.
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.,
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
President and Director
ALTO VENTURES LTD.
Unit 7 - 1351C Kelly Lake Rd
Sudbury, ON., P3E 5P5
CEO and Director
ALTO VENTURES LTD.
Suite 615-800 W. Pender Street
Vancouver, BC, V6C 2V6