ATW Venture Corp.
TSX VENTURE : ATW

ATW Venture Corp.

December 12, 2006 09:01 ET

ATW Signs Option Agreement with Marifil to Earn 70% Interest in Amarillo Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 12, 2006) - ATW Venture Corp. (TSX VENTURE:ATW) ("ATW" or "the Company") is pleased to announce that further to its news release dated December 4, 2006, it has signed an option agreement with Marifil Mines Limited (TSX VENTURE:MFM) to earn up to a 70% interest in the "Amarillo" property located in the San Juan province of Argentina. The Agreement is subject to regulatory approval.

The Amarillo gold-copper-silver project is located within the Veladero-El Indio gold belt on the Argentine side of the Andes. This belt is fast becoming an attractive area for major mining companies investing substantial funds exploring for world class gold deposits. The belt already hosts several major discoveries including Barrick's 2 deposits lying to the north of Amarillo, Veladero (12.6 million ounce gold reserve) and Pascua Llama (18.3 million ounces of gold reserve) as well as the very high grade El Indio copper gold mine.

The Amarillo land-holding covers over 40 square kilometres of intensely altered sedimentary and intrusive rocks that represent the upper levels of two or more large porphyry-related hydrothermal systems. The Company is impressed with the magnitude and intensity of the alteration systems and the highly anomalous gold and copper values from previous explorer's trench sampling. The project's geologic setting is similar to the setting at Newmont-Buenaventura's Yanacocha mine in Peru. ATW has initiated a program to systematically compile and analyse earlier data and will begin a program of property-wide geological mapping and sampling in the first week of January. The Company plans to define targets for drill testing within the first quarter of 2007.

The complete set of previous explorer's significant trench sampling values can be obtained from the Company. These samples are historic, dating from the 1990's and ATW is not able to confirm the validity of these results and therefore they may not be NI 43-101 compliant. A program to re-open the trenches and expand the trenching is being carried out as part of the Company's early evaluation. Assay results from confirmation sampling are expected in the New Year. Highlights from historic work (1994 Argentina Gold and 1995 Western Mining Corporation) include a significant number of high grade results, including from:



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Trench Interval(m) Au (g/t) Ag (g/t) Cu (%)
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4 8.5 6.41 245.8 0.074
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10 4.0 6.44 100.7 0.015
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12 6.8 19.89 65.6 0.003
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12 6.0 149.65 16.0 0.001
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12B 7.2 8.82 30.36 0.003
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28 4.0 5.53 142.5 1.075
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28 6.0 4.92 53.9 0.004
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35 3.0 7.34 156.0 0.012
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59 2.8 11.19 43.3 9.005
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Subject to regulatory approval, ATW can earn a 51% interest in the property by spending $4,000,000 (US) in exploration and development over a three year period and making certain cash and share payments totalling $282,500 (US) and 262,500 common shares. Upon earning 51%, ATW can make a further election to increase its ownership to 60% by spending an additional $1,500,000 in each of years four and five of the agreement and paying cash payments of $150,000 per year. Subsequent to earning a 60% interest, ATW can increase its interest by a further 5% by delivering a bankable feasibility study within six years of the agreement or 8 years if it found that a deposit in excess of 50 million tonnes is delineated. Finally, the Company can earn an additional 5%, bringing its ownership to 70%, by agreeing to provide financing for Marifil's entire share of expenses to the commencement of commercial production.

Asked to comment on this acquisition, Company President, Brent Butler stated that, "The Amarillo project, which is demonstrably in the centre of "Elephant Country" will elevate the profile of the Company amongst investors in the industry as well as complimenting our existing project to give the Company a year round exploration focus."

The content of this news release has been reviewed by the Company's Geologist Brent Butler, BSc. (Geology) who is a Qualified Person as defined by National Instrument 43-101. The Company does not have access to the full assay results of trenching on the property and is unable to confirm the results disclosed above without further work on the property being performed. The results are provided for background only and should not necessarily be relied upon.

ATW VENTURE CORP.

Brent Butler, President & CEO

The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

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

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