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Re: News Release - Tuesday, October 16, 2007
Alto Increases Financing To $2.65 Million
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Vancouver, B.C. October 16, 2007. Alto Ventures Ltd. (ATV: TSX.V) is
pleased to announce that because of strong response from investors, the
Company has increased its non-brokered private placement financing to
$2,650,000 from the initially targeted $2,200,000 (see Alto news
release dated October 9, 2007). The amended financing will be completed
through the issuance of up to 10,769,230 flow-through shares at $0.13
per share and 11,363,263 units at a price of $0.11 per unit. Each
non-flow through unit will consist of one common share and one share
purchase warrant. Each warrant will entitle the holder to purchase one
additional common share at a price of $0.20 exercisable within one year
of the date of closing. The terms and conditions of the warrants will
also contain an accelerated exercise provision that, if the Company's
shares trade on a volume weighted average closing price of $0.30 for 20
consecutive trading days, warrant holders will be given notice that
they have 30 days to exercise or their warrants will expire. Finder's
fees payable in cash and/or securities will be paid in conjunction with
this placement in accordance with TSX Venture Exchange policies.

Proceeds from this financing will be used for exploration work in the
Beardmore-Geraldton Gold Belt, diamond drilling of the Company's
Despinassy Property and for general working capital. Exploration in
the Beardmore-Geraldton area is very active and Alto is well positioned
with four gold projects in the belt. Drilling at Despinassy will focus
on advancing several of the previously identified prospects, including
the Darla Zone where 19.5 g/t gold was obtained across 2.1m from
drilling, as well as increasing the size of the DAC Deposit where
resources of 167,000 tonnes grading 6.88 g/t gold in the Indicated plus
445,000 tonnes grading 4.46 g/t gold in the Inferred categories were
estimated in compliance with NI43-101 standards (see Alto news release
dated November 26, 2006).

Completion of the private placement remains subject to acceptance by
the TSX Venture Exchange.

Mike Koziol, P. Geo., P.Eng. and Alto's President and Director is the
Qualified Person that has reviewed and approved this news release.


About Alto Ventures Ltd
Alto Ventures Ltd. is a gold exploration and development company with a
portfolio of twelve properties in the Canadian Shield. With a pipeline
of quality projects, the Company's approach to maximizing opportunities
while minimizing exploration risk is to attract well financed partners
with the technical expertise to take the projects onto feasibility and
subsequently production.

Alto's Management and Board of Directors have a long and successful
track record of creating shareholder value through systematic
exploration, acquisitions and discovery. The Company is currently
active in Quebec where it is focussed on the Despinassy project in the
Abitibi Greenstone Belt and in Ontario in the Beardmore and Shebandowan
gold districts.

ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng. President

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. For further information contact:

Mark Prosser Investor Relations Manager ALTO VENTURES LTD. 910-475 Howe
Street Vancouver, BC, V6C 2B3 Tel: 604-638-3947 Fax: 604-689-3609
Email: mark@altoventures.com Website: www.altoventures.com

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Copyright (c) 2007 ALTO VENTURES LTD. (ATV) All rights reserved. For
more information visit our website at http://www.altoventures.com/ or
send mailto:info@altoventures.com
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