Mr. Richard Mazur reports

ALTO VENTURES COMMENCES DRILLING ADJACENT TO PIKOO DIAMOND DISCOVERY, SASKATCHEWAN

Alto Ventures Ltd. has started a reverse circulation (RC) drilling program on the GEFA claims immediately adjacent to the Pikoo diamond discovery. The program will test several high-priority diamond targets identified from Alto Ventures' 2015 high-resolution aeromagnetic survey that are interpreted to be consistent with kimberlite intrusions. The aeromagnetic targets are up ice from kimberlite indicator mineral (KIM) dispersion trains delineated during the 2014 glacial till sampling program. The drilling is helicopter supported and is scheduled to start immediately.

During its 2014 glacial till sampling program, Alto Ventures identified multiple KIM dispersion trains containing chromium-pyrope garnets, magnesium-ilmenites and chromites. One of the KIM trains on the eastern half of GEFA features an eclogite garnet comparable with most eclogite inclusions in diamond (see Alto Ventures' news release dated Jan. 22, 2015). This dispersion train also includes a chromite similar to chromite inclusions in diamond, chromium-pyrope garnet, magnesium-ilmenites (picroilmenites) and a second orange garnet comparable with chromium-poor megacrysts (a distinctive component of some kimberlites). Additional KIM grains were recovered in samples collected from the western half of the GEFA property. High-resolution airborne magnetic surveys were flown in 2015 using 50-metre flight line separation plus several areas where the line spacing was reduced to 25 metres. The surveys have delineated numerous magnetic anomalies that are interpreted to be related to kimberlite intrusions (see Alto Ventures' news release dated Feb. 26, 2015).

Alto Ventures is working to earn a 60-per-cent interest in the 13,150-hectare property by completing an aggregate $750,000 in exploration work and making cash payments totalling $60,000 before July 20, 2017. To date, Alto Ventures has completed exploration work totalling approximately $515,000 and paid $25,000 in cash.

Alto Ventures' president, Mike Koziol, PGeo, is a qualified person under the provisions of National Instrument 43-101 and approves the technical data and conclusions in this news release.

Advisory board appointment

Alto Ventures is pleased to announce the appointment of Martin Doyle, PGeo, MBA to Alto Ventures' advisory board, effective Dec. 7, 2016. Mr. Doyle served as a director of Alto Ventures until the company's last annual general meeting and did not stand for re-election due to his other business interests. Mr. Doyle is a seasoned diamond and gold exploration executive with over 35 years of international experience in the De Beers and Anglo American organizations. Mr. Doyle's last assignment with De Beers was from 2004 to 2011 as senior vice-president, exploration, of De Beers Canada Exploration Inc. This was a very dynamic period of growth for De Beers in Canada with the opening of two diamond mines in Ontario and Northwest Territories, where Mr. Doyle played a major role in the transformation of De Beers Canada to an integrated mining and exploration company.

Prior to De Beers Canada, Mr. Doyle's previous diamond exploration assignments included president of De Beers Brasil Ltda. where he directed South American exploration operations; marine geologist/superintendent in Namibia and South Africa; and geologist in Botswana.

About Alto Ventures Ltd

Alto Ventures is an exploration and development company with a portfolio of highly prospective Canadian gold and diamond 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 metal potential of the highly prospective but relatively underexplored Oxford Lake property. The company's diamond properties are located in Northern Saskatchewan near the recent discovery of diamonds on the Pikoo project.