Alto Group Holdings Inc. Reports Alto-Ashanti Project Timely as Gold Reaches Record Highs

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Alto Group Holdings, Inc. (OTCBB: ALTO) (“Alto Group” or the “Company”), today reports that the Alto-Ashanti Project in Ghana is timely as skyrocketing gold prices surpassed $1,072 per ounce. Commodities in general have made strong gains with gold prices leading the rally as the U.S. dollar index made new contract lows. The push to new record highs is a sign of a lack of confidence in the state of the dollar and perhaps the underlying economy overall. Gold has traditionally been a hedge against inflation and some predictions are for an inflationary trend in the near future. Gold prices have tripled in value since 2001.

Gold has taken leadership among the commodities as the fate of the dollar has taken a major turn for the worse in recent weeks. So far this year, the decline in the dollar has been relatively steady, and if this trend continues, the price of gold could make significant moves to higher, record territory.

Gold continued strong today and is priced over $1058 per ounce as investors seem to be reacting to the weak U.S. dollar and ongoing concerns about inflation and has gained more than 20% this year. A weak U.S. dollar makes commodities that are priced in dollars, such as gold and oil, less expensive for investors who are purchasing in other currencies. Gold is also being supported by fears that government efforts to stimulate the economy could set the stage for future inflationary tendencies.

Alto believes that the price of gold will drive a new level of exploration and development of quality projects. With the Ghana West Africa Ashanti gold concessions calculated to contain an inferred resource of over 325,000 ounces of gold (at a cutoff grade 0.05 g/tonne resource-not compliant under N.I. Policy 43-101) occurring in near surface material in the uppermost two to three meters of ground, the Company feels that if the resource is confirmed a processing plant could be readily constructed to begin low cost production at approximately $170 per ounce. This would allow Alto to take advantage of the record high gold prices in the relatively near future.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.