The ancient city on the top of Kaletasi hill is 2.5 km away from the centre of Altinoluk. It is understood from the archaeological findings that the foundation of the ancient city dates back to the Trojan War. Excavations started in 2000 in the ancient city are still continuing today. Excavations revealed that the tombs in the necropolis of the ancient city consisted of two or three storey sarcophagi tombs, which were built by making use of the land slope. The artefacts found in the excavations in the necropolis area are exhibited in the Balikesir museum today.
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