Alto Metals Limited announced that its maiden RC drilling program at the mhistoric high-grade Oroya Mine, located within the Company's 100% owned Sandstone Gold Project, has intersected high- grade gold mineralisation along strike and down dip of historical workings. This initial wide-spaced step out drilling has successfully confirmed the geological model, targeting extensions of the Sandstone Main reef and unmined mineralisation to the north-west beyond the north end of the pit, along with extensions down dip to the west. The drilling has also provided greater geological understanding of the reefs for future drill targeting.

A total of 13 Reverse Circulation (RC) holes for approximately 2,000m have been completed in this first phase of drilling. Drilling was completed at three initial target areas based on preliminary geological interpretation and structural review. This is the first time Oroya has had any drilling in over 15 years and the Company considers this first pass program has successfully demonstrated: Mineralisation remains open for over 200m along strike to the North-West, beyond the end of the pit; High-grade mineralisation remains at the main Sandstone and Juno reefs; and Potential to extend the strike extension of Oroya South mineralisation.

Main Sandstone Reef & Juno Reef: Eight RC holes were drilled at the main Sandstone Reef and the unmined Juno Reef, targeting both remnant mineralisation and extensions of the main reef, with significant results including: 8m @ 1.3 g/t gold from 43m, including 2m @ 2.7 g/t gold from 43m; and 3m @ 13.8 g/t gold from 65m, including 1m @ 37.1 g/t gold from 66m (SRC894) - Juno /Main Reef; 6m @ 1.3 g/t gold from 41m, including 1m @ 5.5 g/t gold from 41m (SRC895) -Juno; 5m @ 1.1 g/t gold from 126m, including 1m @ 3.4 g/t gold from 128m (SRC892) - Main Reef Extension. SRC894 intersected the main high-grade reef at the predicted interval, above the historical workings, returning 3m@ 13.8 g/t gold incl. 1m @ 37.1 g/t gold and SRC892 and SRC893 both intersected mineralisation extending strike by 160m.

Previous unmined results from both the main Sandstone Reef, above and below historical workings, and the unmined Juno reef, directly below the open pit include: 9m @ 14.6 g/t gold from 42m, incl. 1m @ 120.0 g/t gold from 42m (MSGC1312) - Juno; 6m @ 8.3 g/t gold from 49m, incl. 2m @ 23.2 g/t gold from 51m (MSGC0886) - Main Reef; 13m @ 3.1 g/t gold from 22m, incl.

2m @ 11.9 g/t gold from 28m (MSGC0933) - Juno. Planned follow up exploration activities includes further step out and down dip drilling to test extension of existing mineralisation, in addition to closer spaced drilling to validate historical results for geological modelling. Oroya NW Extension: Four RC holes were drilled north-west of the historical open pit, which has had limited drilling to date, targeting interpreted extensions of the Sandstone Main Reef.

Previous unmined results immediately north-west of the Oroya open-pit include: 23m @ 6.2 g/t gold from 87m, incl. 2m @ 55.9 g/t gold from 89m (NT5020R) - NW Extension; 6m @ 3.5 g/t gold from 53m incl. 1m @ 17.1 g/t gold from 53m (MSGC0954); 16m @ 1.4 g/t gold from 83m incl.

1m @ 6.6 g/t gold from 87m (NT5022R). Drilling into the relatively untested NW extension, step-out holes SRC899 and SRC900 collared 60m south and 120m west from historical hole NT5022R, respectively, both successfully intersected mineralisation extending the strike by 140m from the edge of the pit. Results: 3m @ 2.8 g/t gold from 104m, including 1m @ 7.6 g/t gold from 104m (SRC899) - NW Extension; 1m @ 5.4 g/t gold from 113m (SRC900) - NW Extension.

Notably, the mineralisation intersected in SRC900 is within a 10m zone of alteration, quartz and mineralisation. The mineralisation intersected in SRC899 and SRC900 is interpreted as a potential flat lying high-grade splay off the main reef. The second mineralised zone at 216m is interpreted as the continuation of the Main Reef and while the gold tenor is low (2 g/t gold) it indicates the reef remains mineralised.

Planned follow up exploration activities includes further step out drilling to the north-west and closer spaced drilling to test strike and continuity of mineralisation of both the potential splay and main reef. Two further broad step out holes SRC901 and SRC902 drilled 120m and 200m NW of the pit, confirmed the continuation of the Main Reef, however returned low gold tenor. Further assessment of these holes will be undertaken.

Oroya South: A total of two RC holes were completed at Oroya South targeting the interpreted southerly extension of the reef. Step-out hole SRC892, drilled ~200m west from the southern end of the pit, successfully intersected gold mineralisation confirming the interpreted continuation of the reef with a result of 5m @ 1.1 g/t gold from 126m incl. 1m @ 3.4 g/t gold from 128m.

Further targeting is planned south of the Oroya pit given the unmined, high-grade historical results and numerous old workings and shafts in the area. Follow up drilling and other exploration activities: A follow up RC drilling program at Oroya is planned to commence shortly, to test further high-grade targets identified from the recent drill results and targeting the surrounding unmined areas of the reef remain due to historical mining activities at Oroya focusing only on bonanza style mineralisation. The rig is planned to then be moved to Indomitable for further extensional drilling.

Work on updating the resource estimate at the Sandstone Gold Project is progressing well and remains on track for release later in the March quarter.