Alto Metals Limited provided an update on its exploration activities at its 100% owned Sandstone Gold Project, including visible gold confirmed from rock chip samples from an area south of Indomitable, the identification of additional near-surface targets between Indomitable and Vanguard, planned RC drilling to commence in the coming days and work on the updated global resource estimate is progressing well. Additional advanced near-surface, gold targets, within the Alpha Domain. In line with Alto's focused exploration approach, the Company has continued ongoing geological review and field work over the 20km long NW/SE trending gold corridor within the Alpha Domain.

This work has highlighted a number of advanced near-surface targets, including between Vanguard and Indomitable Camps. Cessna: is located approximately 1 kilometre south of Tiger Moth and appears to be a southern extension of the Indomitable Camp. within the Alpha Domain.

Historical RAB and AC drilling reported significant gold mineralisation which remains open and has not been followed up. Historical air-core (AC) results from Cessna include: 12m @ 3.3 g/t gold from 60m, ending in mineralisation (CSA0010) - 19m @ 1.5 g/t gold from 40m (CSA0011) - 15m @ 1.3 g/t gold from 5m (CSA0012) Mineralisation at Cessna is defined over 140m of strike and remains open. New Prospect (between Tiger Moth and Cessna): prospecting activity approximately 500m to the north of Cessna identified rock chips with visible gold.

The rock chips comprise regolith material likely to be related to banded iron formation, which is associated with mineralisation at Musketeer and Indomitable East. These samples have not been assayed and laboratory assay results are required to determine size and grade of any visible mineralisation reported. Eclipse & Duke of Windsor: are located approximately 2 kilometres SE of Cessna and situated along the same NW/SE orientation which hosts Vanguard and Indomitable.

Eclipse and Duke of Windsor were mined underground in the early 1900s, with a total of 860 ounces recovered at an average grade of 17 g/t gold. The gold mineralisation is hosted within quartz reefs, described as being "sugary in texture, and strongly lineated exhibiting thin black laminae parallel to the vein walls. The prospects have not been adequately tested by drilling.

Western Mining Corporation completed a small RC drill program however did not hold the tenement and were unable to drill in the most prospective locations. Troy Resources completed a small RAB program, however it appears that the drilling did not successfully target the quartz reefs. Bollinger: is located approximately 2 kilometres north of Indomitable and appears to be an extension of the Indomitable Camp.

Historical drilling intersected potentially significant gold mineralisation which has not been adequately followed up. In 2020 Alto completed 3 RC drill holes which included a previously announced shallow result of 28m @ 2.1 g/t gold from 4m. Indomitable East Extensions: located approximately 1.5 kilometres southeast of the Indomitable East prospect, within the same NW/SE structural trend, a number of historical drill holes intersected gold mineralisation, with results from two RAB holes including 11m @ 3.3 g/t gold from 24m (HKP327) and 19m @ 0.9 g/t gold from 36m (HKP415).

The mineralisation appears to be associated with banded iron formation in a similar geological setting to Indomitable East. Bulletin: is located on the eastern limb of the Sandstone Greenstone Belt, approximately 5km north of Vanguard, within an area of folded and sheared metabasalt, metadolerite, chert and banded iron formation. Mineralisation is defined over an area of approximately 1.5km x 1.5km and appears to be associated with quartz reefs, goethite altered quartz stringers within a porphyry intrusive and to the south is associated with banded iron formation.

Historical drill results include 12m @ 2.2 g/t gold from 46m (TAR2117) and 7m @ 3.1 g/t gold from 18m (TAR1599). Bull Oak: is located towards the centre of the Sandstone Greenstone Belt, approximately 10km NW of Indomitable. The Bull Oak granite is a porphyritic intrusion with a strike length of approximately 500m and a width of up to 150m.

The intrusion has relatively steep dipping boundaries and has not been defined at depth. Underground mining was carried out at Bull Oak from 1904 to 1943, targeting the higher grade reefs. Historical production from the reefs are 10,617oz at a grade of 27g/t Au.

Visible gold confirmed in rock chips from an untested area within the Indomitable Camp: Alto reported the confirmation of visible gold in surface rock chips taken from a new prospect area within the Indomitable Camp located midway between Tiger Moth and Cessna. The samples were collected as part of the exploration activities the Company has in place with local prospectors and represents the first identification of visible gold mineralisation in rock chips at this location. The rock chips comprise regolith material likely to be associated with banded iron formation.

It is important to note that in relation to the disclosure of visual exploration results, the Company cautions that visual identification of gold is not an estimate of grade or assay results expected from laboratory analyses. Visible gold is not a proxy or substitute for laboratory analyses. The rock chips have not been submitted to the laboratory for assay.

Laboratory assay results are required to determine the widths and grades of any visual mineralisation reported. RC drilling: An RC rig is anticipated to commence drilling at Indomitable in the coming days. The drill program is planned to include testing potential interpreted high-grade mineralised structures highlighted from the recent results announced at the end of last year, including 25m @ 7.5 g/t gold from 41m.

Drilling is also planned to test strike extensions at Indomitable East and Musketeer, and first pass drilling at the Cessna and Duke of Windsor prospects. Updated mineral resource estimate: Work on the updating of the current open-pit 635,000oz @ 1.6 g/t gold resource for the Sandstone Gold Project is progressing and remains on track for completion this month.