Alto Metals Limited : - Lords scale continues to grow with new Juno discovery

AME.AX

Alto Metals Limited (ASX: AME) (Alto or the Company) is pleased to announce the discovery of a new gold zone, named Juno and report further thick, high-grade gold assay results from RC drilling below the Lord Nelson pit, as part of its recently completed major RC and Diamond drilling program at its 100% owned, 900km2 Sandstone Gold Project, in Western Australia.

Lord Nelson is hosted at the northern tip of a large granodiorite intrusion, that is more than 3 kilometres long and up to 600m wide and has had limited drilling below 100m depth. New assays in this release from step-out RC drilling, relate to one-metre fire assay results for 32 holes for 5,712m and from diamond drilling relate to fire assay results for six holes for 830m

Alto's Managing Director, Matthew Bowles said: The results from the new Juno lode are outstanding, with high-grade mineralisation intersected further along the Lords corridor, and clearly demonstrates the potential for further growth. Juno is considered a previously undiscovered extension of the mineralised zone below the Lord Nelson pit, outside the current resource, which currently extends for over a kilometre strike and remains open.

At the same time, we have also hit further thick, high-grade mineralisation from deeper drilling beneath the Lord Nelson pit, with SRC432 returning 45m @ 3.2 g/t gold, including 5m @ 17.5 g/t gold, which was drilled approximately 30m north SRC423 and returned 48m @ 3.4 g/t gold, demonstrating the continuity of mineralisation, outside the current resource. The nature and style of mineralisation that we see at the Lord's granodiorite, with gold mineralisation within the granodiorite 'damage zone' and high-grade gold along the margin of the ultramafic contact, is very similar to that of the Tarmoola granodiorite at Red 5's King of the Hills. This is very encouraging as it highlights the scale of what we potentially may have at the Lords Corridor

New Juno discovery - undiscovered extension of the new mineralised zone below Lord Nelson pit

RC drilling on 40m line spacing along the southern extent of the Lords Corridor, up to 600m south of the Lord Nelson pit, has intersected broad zones of significant gold mineralisation across a total of over 600m strike in a newly defined area, to a maximum vertical depth of 160m. All holes drilled are oriented from west to east with an inclination of 50-60 degrees, which is approximately perpendicular to the NNW-SSE of the mineralised structure.

The mineralisation is within the granodiorite intrusion, with a high-grade zone on the contact between the granodiorite and the ultramafic. The new zone, named Juno, is considered a previously undiscovered extension of the mineralised zone below the Lord Nelson pit, outside the current resource, which now extends for over 1 kilometre strike. Juno has the same interpreted gentle southerly plunge and remains open up and down dip, and along strike.

Further thick high-grade gold results from the new mineralised zone below

Lord Nelson pit New results received from deeper RC and diamond drilling, targeting dip and plunge extensions both below and to the south of the Lord Nelson pit, have intersected thick, high-grade gold mineralisation. RC drilling was drilled west to east on a 40m x 40m grid spacing. The diamond holes were drilled into the Orion lode and depth extensions of Lord Nelson to provide structural orientation to assist with further targeting

Importantly, SRC423 was drilled 160m north of SRC 176 which returned 16m @ 5.2 g/t gold from 240m (ASX 22 April 2020) and 70m north of SDD001 which returned 36m @ 2.0 g/t gold, incl. 3.6m at 10.5 g/t gold from 232m, highlighting the continuity of high-grade gold mineralisation at depth, over 300 metres strike and remains open. The nature and style of mineralisation that is observed at the Lords granodiorite, with gold mineralisation within the granodiorite 'damage zone' and high-grade gold along the margin of the ultramafic footwall, is considered to be very similar to that of the Tarmoola granodiorite at Red 5's King of the Hills.

Assays remain pending for 10 diamond holes and over 100 RC holes from Lord Henry, Lord Nelson, Vanguard and Indomitable. RC drilling has been temporarily paused to allow for the receipt of the significant number of assays still pending.

Contact:

Matthew Bowles

Tel: +61 8 9381 2808

Forward-Looking Statements

This release may include forward-looking statements. Forward-looking statements may generally be identified by the use of forward-looking verbs such as expects, anticipates, believes, plans, projects, intends, estimates, envisages, potential, possible, strategy, goals, objectives, or variations thereof or stating that certain actions, events or results may, could, would, might or will be taken, occur or be achieved, or the negative of any of these terms and similar expressions. which are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Alto Metals Limited. Actual values, results or events may be materially different to those expressed or implied in this release. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this release speak only at the date of issue. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Alto Metals Limited does not undertake any obligation to update or revise any information or any of the forward-looking statements in this release or any changes in events, conditions or circumstances on which any such forward looking statement is based.

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