Alto Appoints CFO and Grants Stock Options

Vancouver, British Columbia--(Newsfile Corp. - September 1, 2020) - Alto Ventures Ltd. (TSXV: ATV) ("Alto" or the "Company") is pleased to announce that Jim Kirke has been appointed as Chief Financial Officer of the Company, effective immediately. Mr. Kirke is a seasoned professional with significant experience in the mining sector.

"Jim's appointment comes at an integral time for Alto Ventures", said Mike Bandrowski, Chief Executive Officer. "His financial experience in the mining sector strengthens the company's management team and brings a large knowledge base that will significantly add to the company as it advances its Canadian gold assets.

Mr. Kirke has over 35 years of public accounting and industry experience, including over 15 years in the mining sector. He graduated from McMaster University and received his CPA from the Institute of Chartered Accountants of Ontario in 1989. Most recently, Mr. Kirke was Chief Financial Officer at Marathon Gold Corporation and its predecessor Marathon PGM Corp. from 2005 to 2019, where he was involved in raising over $150 million in capital, negotiating NSR buy backs and sales, acquisitions and the day to day management of each company. His extensive public mining experience will be a great addition to the Alto Ventures team.

Mr. Kirke replaces Ron Schmitz, who acted as interim CFO during the Company's now completed reorganization. The Company thanks Mr. Schmitz for his services.

Alto Ventures also announces the grant of incentive stock options under the Company's stock option plan to certain of its directors, employees and consultants to purchase up to an aggregate of 2,025,000 treasury shares. The options are exercisable at a price of $0.20 per share for a period of 3 years expiring August 31, 2023 and are subject to the policies of the TSX Venture Exchange and the Company's stock option plan.

About Alto Ventures Ltd.

Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective 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.,
CEO

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:

Rick Mazur,
CEO and Director
ALTO VENTURES LTD.
Suite 615-800 W. Pender Street
Vancouver, BC, V6C 2V6
Tel: 604-689-2599
Fax: 604-689-3609
Email: mazur@altoventures.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62945