Alto Ventures Provides Update on Oxford Lake Project, Manitoba

Vancouver, British Columbia--(Newsfile Corp. - December 22, 2017) - Alto Ventures Ltd. (TSXV: ATV) has decided, after careful consideration, not to proceed indefinitely with an exploration program at Oxford Lake in Manitoba. This decision was made in light of recent changes in position of the Bunibonibee Cree Nation toward the proposed exploration, and related challenges the company faced in obtaining clear and timely information regarding the Government of Manitoba's position on Aboriginal consultation and permitting matters. Alto has in past had a constructive relationship with the Bunibonibee Cree Nation and had planned to use a number of its members and companies for a range of services including line cutting, ground geophysics, ice road maintenance, camp person, cook and fuel from the community.

Alto remains open to working with the Bunibonibee Cree Nation to resolve the issues outstanding to continue to advance the Oxford Lake Project in the future. For the foreseeable future, Alto will refocus its exploration efforts to the Miner Lake and Mud Lake Projects in northwestern Ontario and the Destiny Project in Quebec.

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:

Mike Koziol,
President and Director
ALTO VENTURES LTD.
Unit 7 — 1351C Kelly Lake Rd
Sudbury, ON., P3E 5P5
Tel: 705-522-6372
Email: koziol@altoventures.com

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