ATW Gold Corp.

ATW Gold Corp.

July 02, 2009 09:00 ET

ATW Gold Corp.: Batavia Elects to Take 4 Million Shares in Lieu of Cash Payment

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 2, 2009) - ATW Gold Corp. (TSX VENTURE:ATW) ("ATW" or the "Company") is pleased to report that the Company and its subsidiary, ATW Gold Corp. Australia Pty Ltd. (collectively, "ATW") have further amended the terms of their Asset Purchase Agreement with Batavia Mining Limited ("Batavia") and South Murchison Mines Pty Ltd. ("South Murchison").

The Parties entered into a Mineral Property and Asset Purchase Agreement (the "Original Agreement") dated April 18, 2008 whereby ATW, through its subsidiary, ATW Australia, has purchased the mineral project known as the Gullewa Project from Batavia and South Murchison.

The Parties subsequently entered into a Deed of Variation dated 22 January 2009 amending the Original Agreement and the terms thereof.

The Parties wish to further amend their agreement on the terms of the Original Agreement and the Deed of Variation as described herein.

The Parties agree that ATW may fully and finally settle its obligation to pay a total of AUD$3,000,000 under clause 2.3(a)(2) of the Original Agreement (as varied by clause 2(a) of the Deed of Variation) by issuing to Batavia a total of 4,000,000 shares of common stock of ATW (the "Shares") at a price of AUD$0.75 per share (being approximately Cdn$0.703 at prevailing currency exchange rates effective today of Cdn$1.00 for each AUD$1.067).

The Amendment Agreement is subject to its acceptance for filing with the TSX Venture Exchange.

Graham Harris, Chairman of ATW Gold Corp., commented, "We are very pleased to welcome Batavia as a significant shareholder of ATW Gold Corp. Batavia recognizes the progress we have made to date at Burnakura and Gullewa. Their decision to take an equity stake in ATW Gold Corp. supports our development and enhances our profile as we continue on our path to become a mid tier gold producer."


Graham Harris, Chairman

"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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