ATW Venture Corp.
TSX VENTURE : ATW
FRANKFURT : A3N

ATW Venture Corp.

November 01, 2007 09:00 ET

ATW Venture Corp.: Exploratory Drill Program To Begin Following the Closing of the Burnakura Gold Project Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES

ATW Venture Corp. (TSX VENTURE:ATW)(FRANKFURT:A3N), ("ATW" or "the Company"), announces that it has signed a drilling contract with Murchison Exploration and Hire Service of Perth, West Australia for a minimum 5,000 metres of reverse circulation and core drilling to commence on January 15th, 2008 at the Company's Burnakura gold project, Meekatharra, subject to the closing of the acquisition and concurrent financing as announced by ATW on October 17, 2007.

Historically, previous operators confined drilling to near surface oxide deposits to feed leach operations in the vicinity. More recently, exploration has focused on the realization that a much larger gold-mineralized system exists beneath numerous pits, stretching over the full 12 kilometre length of the tenements (mineral claims). During the Burnakura underground development, it was discovered that the orebody has several shoots extending north-south along the Burnakura shear zone from which samples averaged 8 grams per tonne (gpt) gold. In addition, exploration confirmed east-west oriented cross-cutting veins with grades ranging from anomalous to 25 gpt gold that had not been recognized by previous surface drilling as the drill direction ran parallel to these.

Mesothermal gold systems like Burnakura are well known to extend to significant depths. As a result, ATW has several kilometres of strike to the north and south of the decline that will be systematically explored. The first target planned for drilling is beneath the New Alliance pit into a zone with grades ranging from anamolous to 20 gpt gold.

ATW's first exploration program at Burnakura will focus on a 500 metre prospective zone, called the NOA (North of Alliance) Line, located between the NOA 2 open pit/underground workings and the NOA7/8 open cut (maps and geological information are available on the Company's website, www.atwventure.com). Drilling is planned to follow-up on numerous exploration targets, including the following historical intercepts:

- NOA 2 - Down plunge from area of previous open pit mining. Recent intercepts include 7m at 17.3 gpt gold, 3m at 42.6 gpt gold and 5m at 9.11 gpt gold;

- NOA line - A water borehole immediately north of NOA 2 intersected mineralisation of 4m at 6.0 gpt gold;

- New Alliance - Drilling down plunge beneath the 85m pit where drilling intersected 17.4m @ 19.7 gpt gold.

These holes were drilled by joint venture partners, Tectonic Resources NL ("Tectonic") and Extract Resources Limited ("Extract"), during the normal course of mining and development operations. It is believed that typical QA/QC assurances were carried out in the handling and assaying of materials recovered from these drill holes. Follow-up drilling by the Company will be carried out under the direction of a Qualified Person, as defined by N.I. 43-101.

Brent Butler, President and CEO of ATW Venture Corp. is the qualified person under National Instrument 43-101 and has reviewed the contents of this news release.

ATW VENTURE CORP.

Brent Butler, President & CEO

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

"This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available."

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • ATW Venture Corp.
    Luke Norman
    (604) 662-8184 or Toll Free: 1-877-662-8184
    Website at www.atwventure.com