ATW Venture Corp.
TSX VENTURE : ATW
FRANKFURT : A3N

ATW Venture Corp.

March 13, 2008 13:59 ET

ATW to Acquire Gullewa Gold Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 13, 2008) - ATW Venture Corp. (TSX VENTURE:ATW)(FRANKFURT:A3N), ("ATW" or "the Company"), is pleased to announce that it has entered into a Letter of Intent ("LOI") to acquire 100% of the Gullewa Gold Copper Project and its assets (the "Gullewa Project") located in the West Yilgarn goldfields of Western Australia, 300km south west of ATW's 100% owned Burnakura Gold Mine.

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 Prince George Mine, the Michaelangelo 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.

The vendor of the Gullewa Project is Batavia Mining Limited (ASX Listed: "BTV") (the "Vendor" or "Batavia"). Batavia is retaining the Rock Steady and Brandy Hill iron ore deposits which lie within two of the mineral tenements comprising the Gullewa Project.

PROJECT, LOCATION AND GEOLOGICAL INFORMATION

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.

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.

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

TERMS OF THE LETTER OF INTENT

The terms of the LOI require the parties to enter into a Definitive Agreement within thirty (30) days or the LOI will terminate.

The LOI states that the Definitive Agreement shall provide 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 its 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.

"We are excited about acquiring the Gullewa Project," 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.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

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

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