ATW Gold Corp.
TSX VENTURE : ATW

ATW Gold Corp.

June 10, 2010 09:00 ET

ATW Completes Sale of Burnakura Assets for AUD$5,000,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2010) - ATW Gold Corp. (TSX VENTURE:ATW) (the "Company") ("ATW") is pleased to announce that it has completed the sale of its Burnakura gold project (the "Burnakura Project") to Jinka Minerals Ltd., an Australian company, ("Jinka").

A total of AUD$5,000,000 was paid for the Burnakura Project: a closing payment of AUD$4,253,000 (of which a AUD$212,650 deposit had already been received) and a payment by Jinka of AUD$747,000 to the Department of Mines in Western Australia which payment will result in the return of AUD$747,000 of environmental bond funds to ATW's Australian subsidiary.

The required Australian regulatory approvals have been received.

Concurrent with closing the sale of its Burnakura Project, the Company also settled its outstanding liability of $2,000,000 AUD (the "Debt") with RUC Cementation Mining Contractors Pty Ltd. (formerly RUC Mining Contractors Pty Ltd.) ("RUC"). The Settlement was first disclosed in the Company's news release of April 12, 2010.

Under the terms of the Settlement (the "Settlement"), the Company paid RUC a total of AUD$1,500,000 and issued to RUC a total of 2,000,000 common shares at a deemed price of AUD$0.25 per share. The shares were issued on June 1, 2010 and are subject to a four month hold under the policies of the TSX Venture Exchange.

The terms of the Settlement also called for the parties to execute full and final mutual releases (the "Releases"). The Releases have been signed.

The sale of the Burnakura Project has allowed the Company to retire all current liabilities relating to Burnakura with excess funds to be applied towards working capital. The Company continues to consider all options as they relate to its Gullewa Copper-Gold Project ("Gullewa").

Brent Butler, Chief Executive Officer and President, commented: "The sale of Burnakura will allow ATW to focus on strategic alternatives as they relate to Gullewa. Given the continued strength in the underlying commodity prices, ATW is considering all alternatives including advancing the project ourselves, the sale, spin-out or joint venture of the Company's Gullewa Copper-Gold Project."

ATW Gold 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."

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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