6,000 Metres of Diamond Drilling Commences  

VANCOUVER, BC - Alto Ventures Ltd. and Foundation Resources Inc. reported commencement of a 6,000 metre diamond drilling program on the Coldstream Property in northwestern Ontario. Foundation is the operator of this program and owns a 60% interest in the Property and Alto owns the remaining 40%. The three priority targets for the drill program are:

(1) Expand the East Coldstream Gold Deposit laterally by targeting 3D-induced polarization (IP) anomalies identified during the 2010 summer exploration program. These IP anomalies are located a few hundred metres both south and east of the Deposit. (2) Test the Iris Zone by targeting historical IP anomalies with coincident surface gold values. The Iris Zone is located approximately 1.5 km northeast of the Deposit. Historic drilling results (e.g., 1.27 g/t gold over 5.2 m and 0.74 g/t gold over 12.5 m, including 1.19 g/t gold over 4.0 m) and Foundation's 2009 and 2010 surface exploration results (up to 25.0 g/t gold in grab samples) correspond well with the historical IP anomalies. These targets are very encouraging as they have not been tested in detail. (3) Test the possible extension of the Moss Lake Gold Deposit onto the southern-most claims of the Property. Historical drilling by Inco Ltd. (now "Vale") in the early 1980s returned anomalous gold values (e.g., 0.99 g/t gold over 24.5 m and 1.5 g/t gold over 3.5 m) suggesting a potential extension of the Moss Lake Gold Deposit (QES Zone) onto the Property. In addition to the drilling, a 3D-IP survey is planned on the Span Lake claims adjacent to the Moss Lake Gold Deposit. Approximately 10,000-metres of diamond drilling was completed during the 2010 winter and summer exploration programs on the East Coldstream Deposit. The recent drilling has confirmed the continuity of gold mineralization between widely spaced historical holes and has extended the down-plunge and lateral continuity of the Deposit. In 1991 Noranda calculated the Deposit to contain a non-NI 43-101 compliant historic resource of 5.1 million tonnes grading 1.4 g/t gold (234,000 ounces contained gold). The company's address is Suite 910 - 475 Howe Street, Vancouver, BC V6C 2B3, 604-689-2599, fax: 604-689-3609, email: [email protected].