Mr. Anthony Hawkshaw reports

RIO ALTO ENTERS LETTER OF INTENT TO ACQUIRE MAJORITY INTERESTS IN THE PERUVIAN MINASNIOC AND ICHUNA EXPLORATION PROPERTIES

Rio Alto Mining Ltd. has entered into a letter of intent with Duran Ventures Inc. that sets out the basic terms and conditions whereby Rio Alto may earn up to a 70-per-cent interest in Duran's Minasnioc gold-silver property and a 65-per-cent interest in Duran's Ichuna copper-silver property. The LOI also provides for a $750,000 equity investment by Rio Alto in Duran. The completion of the transactions contemplated by the LOI is subject to customary conditions, including the receipt of regulatory approvals, the completion of due diligence to the satisfaction of Rio Alto and the completion definitive transaction documentation.

We seek Safe Harbor.