ATW Gold Corp.

ATW Gold Corp.

July 31, 2009 09:00 ET

ATW Terminates Letter Agreement With Kinbauri Gold Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 31, 2009) - ATW Gold Corp. (TSX VENTURE:ATW) ("ATW" or the "Company") announces that it has terminated its letter agreement (the "Agreement") with Kinbauri Gold Corp. ("Kinbauri") dated July 12, 2009. As a result, it will not be proceeding with the Plan of Arrangement contemplated in the Agreement.

Section 18(c) of the Agreement provides ATW with the right to terminate if Kinbauri's board of directors fails to confirm its unanimous approval of the Plan of Arrangement to Kinbauri's shareholders. In the nearly three weeks since the Agreement was signed, that confirmation has not been announced to Kinbauri shareholders.

"While we are disappointed with the termination of the Kinbauri Agreement, we will continue to seek opportunities which will further promote the Company's growth and move it closer to its goal of becoming a mid-tier gold producer" commented ATW Chairman, Graham Harris. "We continue to focus on increasing production from the Burnakura Mine and on advancing the Gullewa Mine toward production."


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."

Contact Information