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Alto Ventures Ltd.: Alto-Wescan Finalize Drill Contract for Mud Lake Project, Beardmore-Geraldton Gold Belt

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Message: Where we left off at Mud Lake

Mud Lake Option Agreement

Wescan entered into an option agreement with Alto in the second quarter of 2007 on the Mud Lake Project in the Beardmore - Geraldton gold belt of northern Ontario. Under the terms of the Mud Lake Option Agreement Wescan can earn a 50% working interest in the property by funding $600,000 in exploration expenditures and issuing a total of 150,000 Wescan shares to Alto over two years. As at December 31, 2007, Wescan incurred $227,449 of exploration expenditures and has issued 50,000 shares to Alto in accordance with the terms of the option agreement.

Drilling on the Wescan - Alto Mud Lake Project started in late November 2007 and nine holes were completed prior to year end. This drilling continued to test targets along the Mud Lake Shear Zone where previous work identified twelve surface gold occurrences along a six kilometer segment of the shear zone (see Wescan news release dated November 22, 2007). The holes reported tested one kilometre of the shear zone near the northeast end, drilling three of the occurrences not drilled previously.

In the First Quarter of 2008 nine holes were completed as part of a continuing program to evaluate the economic significance of the six kilometre segment of the shear. The results from these holes and from earlier drilling demonstrate the significant potential of the property. Further work is planned to test the gaps in information on the mineralization between drill holes along the shear zone and to identify deeper targets.

Question, when is this further work planned for?

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