ATW Venture Corp.
TSX VENTURE : ATW
FRANKFURT : A3N

ATW Venture Corp.

April 18, 2008 12:37 ET

ATW Closes Purchase of Gullewa Gold Mine Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2008) - ATW Venture Corp. (TSX VENTURE:ATW)(FRANKFURT:A3N), ("ATW" or "the Company"), is pleased to announce that it has signed a Definitive Agreement ("the Agreement") with Batavia Mining Limited (ASX Listed: "BTV") (the "Vendor" or "Batavia") to acquire 100% of the Gullewa Gold Copper Project and its assets (the "Gullewa Project"). The Gullewa Project is located 450 km north of Perth, 160 km east of Geraldton and 300km south west of ATW's 100% owned Burnakura Gold Mine in the Yilgarn goldfields of Western Australia.

The Gullewa Project includes a total of 756 km2 of mineral tenements that cover the prospective central and southern portions of the Gullewa Greenstone Belt and include the Gullewa Mining Centre, the Deflector Deposit, the Michelangelo and Monarch Prospects.

Mining infrastructure assets of the Gullewa Project include a turn-key gold operation with a Carbon-In-Leach plant capable of up to 300,000 tpa (tonne per annum) gold production, a licensed tailings disposal facility, a 50-person camp, offices, workshops, bore fields and haulage roads. The site is currently on care and maintenance.

Batavia has disclosed, on its website, www.bataviamining.com.au, and in disclosure documents prepared for the ASX, geological information and JORC resource calculations for the Gullewa Project's Deflector Deposit.

TERMS OF THE AGREEMENT

The Agreement provides for the payment and/or issuance, by ATW Venture Australia Pty Ltd. (ATW's Australian subsidiary) to Batavia, of a total of AUD$13,000,000 and 2,000,000 shares of ATW as follows:

(a) within fourteen (14) days of the date of the acceptance for filing of the Definitive Agreement with the TSX-Venture Exchange and the completion of an NI 43-101 geological report concerning the Gullewa Project, AUD$3,000,000 (the "First Payment") and 2,000,000 shares of ATW Venture Corp.;

(b) on or before the twelve (12) month anniversary of the First Payment being made to Batavia, AUD$3,000,000 (the "Second Payment");

(c) on or before the twenty four (24) month anniversary of the First Payment being made to Batavia, AUD$3,000,000 (the "Third Payment"); and

(d) on or before the earlier of the thirty six (36) month anniversary of the First Payment being made to Batavia or the completion of a positive bankable feasibility study by ATW, AUD$4,000,000 (the "Fourth Payment").

(the payments (the "Payments") in sections 2(a) to (d) to be referred to, collectively, as the "Purchase Price").

Provided that the market price of the shares of ATW is greater than or equal to Cdn$1.00, Batavia may, at its election, choose to:

(a) be paid in shares of ATW for up to AUD$3,000,000 of the Second Payment at the market price of the shares of ATW at the time of the Second Payment;

(b) be paid in shares of ATW for up to AUD$3,000,000 of the Third Payment at the market price of the shares of ATW at the time of the Third Payment; and

(c) be paid in shares of ATW for up to AUD$4,000,000 of the Fourth Payment at the market price of the shares of ATW at the time of the Fourth Payment.

The acquisition of the Gullewa Project will, in the Definitive Agreement, be conditional upon ATW agreeing to provide to Batavia a non-refundable payment (the "Exploration Payment"), payable within thirty (30) days of the date hereof, of AUD$300,000 on the purchase of the Gullewa Project which Batavia agrees to use to engage in a regional exploration program (the "Program") on the area of the Gullewa Project. Payment of the Exploration Payment is conditional upon ATW first approving the Program. The Exploration Payment is made in addition to the AUD$13,000,000 of Payments described above.

Geophysical exploration, utilizing gravity and aeromagnetic surveying, has proven effective at Gullewa, the Deflector Deposit being discovered from drill testing an aeromagnetic target. Given the vast size of the mineral tenement package and the existence of other geologic prospects on the property, the Exploration Payment will fund a gravity geophysical survey during the second quarter of 2008.

Transfer to ATW of the assets comprising the Gullewa Project is to occur upon payment of the First Payment of AUD$3,000,000 and the issuance of the 2,000,000 shares of ATW. In the event that ATW does not make any of the Payments above, then it must transfer title to the Gullewa Project and assets back to Batavia. Until the Payments are all made to complete the Purchase Price, Batavia retains a security interest in the assets comprising the Gullewa Project. Batavia is retaining the Rock Steady and Brandy Hill iron ore deposits which lie within two of the mineral tenements comprising the Gullewa Project.

The acquisition of the Gullewa Project is also subject to approval of Batavia's shareholders.

The acquisition of the Gullewa Project is subject to its acceptance for filing with the TSX-Venture Exchange and preparation of an NI 43-101 compliant geological report. The Company has retained Stephen Godden of S. Godden & Associates Ltd. to finalize the NI 43-101 compliant geological report on the Gullewa Project.

A finders fee (the "Finder's Fee") of 5%, payable as 278,000 common shares and $500,000 was payable on the acquisition of the Gullewa Project. The Finders Fee is split between two parties and is payable not upon closing of the acquisition, but in tranches as the Company makes payments for Gullewa.

The Finder's Fee is subject to final approval from the TSX Venture Exchange.

"We are excited about acquiring the Gullewa Project. The acquisition of the Burnakura Gold Mine and the Gullewa Gold Mine puts ATW in the envious position of having two fully permitted, production ready, turn-key gold mines with extensive infrastructure and underground development already in place." says Brent Butler, President and CEO. "These assets move us closer to our corporate goal of becoming a mid-tier gold producer."

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."

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

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