ATW Gold Corp, (ATW: TSX-V), (�ATW� or the
�Company�), is pleased to report that the
Company and its subsidiary, ATW Gold Corp Australia Pty Ltd. (collectively,
"ATW") have further amended the terms of their Asset Purchase
Agreement with Batavia Mining Limited (�Batavia�) and South Murchison Mines
Pty Ltd. (�South Murchison�).
The Parties entered into a Mineral Property and
Asset Purchase Agreement (the "Original Agreement") dated April 18,
2008 whereby ATW, through its subsidiary, ATW Australia, has purchased the
mineral project known as the Gullewa Project from Batavia and South
Murchison.
The Parties subsequently entered into a Deed of
Variation dated 22 January 2009 amending the Original Agreement and the terms
thereof.
The Parties wish to further amend their agreement on
the terms of the Original Agreement and the Deed of Variation as described
herein.
The Parties agree that ATW may fully and finally
settle its obligation to pay a total of AUD$3,000,000 under clause 2.3(a)(2)
of the Original Agreement (as varied by clause 2(a) of the Deed of Variation)
by issuing to Batavia a total of 4,000,000 shares of common stock of ATW (the
"Shares") at a price of AUD$0.75 per share (being approximately
Cdn$0.703 at prevailing currency exchange rates effective today of Cdn$1.00
for each AUD$1.067).
The Amendment Agreement is subject to its acceptance
for filing with the TSX Venture Exchange.
Graham Harris, Chairman of ATW Gold Corp. commented,
�We are very pleased to welcome Batavia as a significant shareholder of ATW
Gold Corp. Batavia recognizes the progress we have made to date at
Burnakura and Gullewa. Their decision to take an equity stake in ATW Gold
Corp. supports our development and enhances our profile as we continue on our
path to become a mid tier gold producer.�
To find out more about ATW Gold Corp., please contact
Investor Relations at 604-662-8184 or email investor@atwgold.com. You may also visit our website at www.atwgold.com.
ATW GOLD CORP.
�Graham Harris�
Graham Harris
Chairman
�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.�
�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.�