ATW Venture Corp.

ATW Venture Corp.

February 29, 2008 19:45 ET

ATW Venture Corp. Announces $9.5 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 29, 2008) - ATW Venture Corp. (TSX VENTURE:ATW)(FRANKFURT:A3N) ("ATW" or "the Company") is pleased to announce a brokered private placement led by PI Financial Corp. (the "Agent") for up to 10,000,000 units (the "Units"), priced at $0.95 per Unit to raise up to $9,500,000 (the "Offering"). Each Unit consists of one common share and one transferable common share purchase warrant ("Warrant"). Each Warrant shall be exercisable into one additional common share ("Common Share") of the Company for two years from the closing date of the Offering (the "Closing Date") at an exercise price of $1.35 per common share for the first year following the Closing Date, and for $1.50 for the second year following the Closing Date.

As consideration for acting as agent, the Agent will receive a commission of 7% of the gross proceeds of the Offering on the closing of the Offering, payable in cash, in units or a combination of both, at the election of the Agent. Any units issued in lieu of cash commission will be on the same terms as the Units of the Offering. The Company shall also pay to the Agent a corporate finance fee of $50,000 and compensation options (the "Compensation Options") equal to 8% of the number of Units issued pursuant to the Offering. Each Compensation Option will entitle the Agent to purchase, at an exercise price of $1.05, one common share of the Company for a period of two years from the date of closing.

All securities issued pursuant to this financing are subject to a 4-month hold period from the Closing Date. The Offering is subject to approval from the TSX Venture Exchange and any other regulatory approvals.

Proceeds of the private placement will be used to fund ATW's Burnakura Gold Mine, increased exploration, potential future acquisitions and for general working capital.

About ATW Venture Corp.

ATW Venture Corp. is the owner of the Burnakura Gold Mine, located in the West Yilgarn goldfields of Western Australia. The Burnakura Gold Mine consists of 58.8 square km of mining leases and prospecting licenses, a fully permitted 160,000 tonne per annum (450 tpd) CIL gold plant, rolling stock, underground equipment, workshops, office space and a 90 man camp. The project covers 12km of prospective strike length along a major auriferous shear zone and mesothermal gold system. Historic production on the project focused on lower grade surface oxides, which had been historically mined from 15 open pits stretching along the entire 12 km of strike length. ATW's current focus is to streamline production facilities at Burnakura, with a goal of pouring the Company's first gold in late 2008.


Brent Butler, President and 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 has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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