ATW Venture Corp.

ATW Venture Corp.

April 16, 2008 09:01 ET

ATW Venture Corp.: Amarillo Drilling Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2008) - ATW Venture Corp. (TSX VENTURE:ATW)(FRANKFURT:A3N) ("ATW" or "the Company") is pleased to report that drilling on the Amarillo project in San Juan Province, Argentina is ongoing. To date, a total of 1100 meters have been drilled. Two core holes have been completed and a third one is in progress. Assays are pending for all drill holes; selected samples for Hole ATW-AM-06 have been sent for rush assay.

A 2008 Amarillo Exploration Program, drill hole location map is available on the ATW Venture Corp. website at

This year's first drill hole, ATW-AM-05 ("F" on drill hole map), was collared at the bottom of Quebrada Poposa. This was a vertical hole drilled to roughly 400 meters. It was designed to test for potential primary copper mineralization at depth. The hole drilled through a thick sequence of weakly altered to fresh dacitic tuffs and pyroclastics rocks. At the bottom of the hole fragments of altered quartzite are observed in the clastic unit. This hole appears to be collared in a down-dropped block of young, post mineral volcanics and did not intersect mineralized lithologies.

ATW-AM-06 ("SM-2" on drill hole map) was drilled on the northern portion of the alteration halo to test for gold mineralization down-plunge along the intersection of northwest and north-northeast trending structures. The hole had a bearing of S80 degrees W and was drilled at -60 degrees. The hole encountered vuggy quartz/pyrite veining in various places in the top part of the hole. These veins are similar to those observed on surface in the road cuts and which are reported to have high gold grades locally. Further down-hole there is a marked increase in silicification of dacitic/andesitic dikes and of the surrounding quartzite with disseminated pyrite from 3-5% and locally up to 10%. Silicification appears to be overprinting earlier alteration events possibly argillization and bleaching. In addition, there is also a quartz/pyrite +/- sericite stockwork event which in general increases with depth. Quartz pyrite veins up to 2 inches (5 cm) are observed locally. In sections, the stockwork is very robust and sulfide content (py) in short sections of the core can be greater than 30%. In general, very little copper mineralization is observed, with only occasional minor cpy noted in veinlets. This hole was drilled to a depth of 525 meters. Selected samples down-hole have been rushed for assays.

The current hole, ATW-AM-07 ("H" on drill hole map) is collared on Esperanza Hill. It is being drilled due south at -60 degrees. This hole was designed to test at depth, outcropping copper mineralization further up hill. The top 100 meters contain sporadic copper mineralization in various lithologies. The hole is roughly at 190 meters.

Mapping and sampling has been ongoing on the northeast portion of the system ("Sericite Target"). There, quartzites are host to a sericitically altered quartz porphyry dike. Quartzites near the dike exhibit quartz stockwork veining and moderate hematite staining. Assays from this area are pending.

Mapping and sampling will also be undertaken at the Filo Colorado Target to gain further understanding of the controls to gold mineralization there.

A fourth hole is contemplated pending results from hole ATW-AM-06 ("SM-2") and surface samples from the two areas mentioned above.

The contents of this news release have been reviewed by Brent Butler who is a qualified person as defined by National Instrument 43-101.

"ATW is excited to have completed drill testing of high priority targets, originally scheduled for 2007. Management is encouraged by onsite visual inspections of drill core and have shipped selected samples for rush assays," says Brent Butler, President and CEO of ATW Venture Corp.

The Company also wishes to announce that it has granted a total of 100,000 incentive stock options, exercisable for a period of five (5) years at an exercise price of $0.95 per share. The grants have been made to certain directors, officers, employees and consultants of the Company.


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.

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

Contact Information