ATW Venture Corp.
TSX VENTURE : ATW
FRANKFURT : A3N

ATW Venture Corp.

June 06, 2008 09:00 ET

TSX Venture Exchange Approves ATW's Acquisition of The Gullewa Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 6, 2008) - ATW Venture Corp. (TSX VENTURE:ATW)(FRANKFURT:A3N) (the "Company") is pleased to announce that the TSX Venture Exchange (the "Exchange") has accepted the agreement between ATW Venture Australia Pty Ltd. ("ATW Australia"), a wholly owned subsidiary of the Company, and Batavia Mining Ltd. ("Batavia"), dated March 13, 2008 (the "Agreement"). Under the terms of the Agreement, the Company will acquire (the "Acquisition") 100% of the Gullewa Gold Project and its assets (the "Gullewa Project") located in the West Yilgarn goldfields of Western Australia from Batavia Mining Ltd. ("Batavia"). The Acquisition was first announced on March 13, 2008.

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 and other 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.

Under the terms of the Agreement, ATW Australia will pay a total of AUD$13,000,000, and the Company will issue 2,000,000 shares of the Company, to Batavia as follows:

(a) within fourteen (14) days of the date of Exchange acceptance, the completion of an NI 43-101 geological report concerning the Gullewa Project and the satisfaction of any other outstanding conditions, AUD$3,000,000 (the "First Payment") and 2,000,000 shares of the Company;

(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 the Company, AUD$4,000,000 (the "Fourth Payment").

(the payments in sections (a) to (d) above collectively are the "Purchase Price").

Provided that the market price of the shares of the Company is greater than or equal to CDN $1.00, Batavia may, at its election, choose to:

(a) be paid in shares of the Company for up to AUD$3,000,000 of the Second Payment at the market price of the shares of the Company at the time of the Second Payment;

(b) be paid in shares of the Company for up to AUD$3,000,000 of the Third Payment at the market price of the shares of the Company at the time of the Third Payment; and

(c) be paid in shares of the Company for up to AUD$4,000,000 of the Fourth Payment at the market price of the shares of the Company at the time of the Fourth Payment.

Under the terms of the Agreement, Batavia retains the Rock Steady and Brandy Hill iron ore deposits which lie within two of the mineral tenements comprising the Gullewa Project.

The closing of the Acquisition (and the payments in (a) to (d) above) is conditional upon the Company and Batavia entering into a Definitive Purchase Agreement and a mineral rights agreement regarding the Rock Steady and Brandy Hill iron ore deposits. The Company has already provided to Batavia a non-refundable payment (the "Exploration Payment") of AUD$300,000 on the purchase of the Gullewa Project which Batavia is using to engage in a regional exploration program on the area of the Gullewa Project.

The closing of the Acquisition is also conditional upon Batavia securing shareholder approval of the Acquisition.

The Company is preparing an NI 43-101 geological report on the Gullewa Project and expects that report will be filed on SEDAR and be made available to the public when completed.

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."

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

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