News
September 27, 2010
ATW Receives AUD$1,500,000 from Mutiny Gold for Gullewa Option
ATW Gold Corp. (ATW: TSX-V), ("ATW" or "the Company") is pleased to announce the Company is in receipt of AUD$1,500,000 from Mutiny Gold Corp under the Option Agreement (the "Agreement") between its subsidiary, ATW Gold Corp Australia Pty Ltd ("ATW Australia"), and Mutiny Gold Ltd. ("Mutiny") whereby Mutiny may earn a 70% interest in the Gullewa Copper-Gold Project in Western Australia by making exploration expenditures and paying, to ATW Australia, a total of AUD$9,000,000. Refer to news release of July 20, 2010 for further information.
The Agreement, dated July 20, 2010, calls for Mutiny to earn a 70% interest in and to the Gullewa project by making exploration expenditures and paying to ATW Australia a total of AUD$9,000,000 as follows:
The Company further reports that Mutiny Gold Ltd, operator of the Gullewa Copper-Gold Project, has notified ATW that drilling will commence on October 8, 2010.
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.
"Brent Butler"
Brent Butler
President & CEO
"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."
The Agreement, dated July 20, 2010, calls for Mutiny to earn a 70% interest in and to the Gullewa project by making exploration expenditures and paying to ATW Australia a total of AUD$9,000,000 as follows:
- payment to ATW Australia of AUD$1.5 million on or before September 24, 2010,; and
- payment to ATW Australia of AUD$1.5million (plus applicable interest payable under clause 2 of the Underlying Agreement) to ATW Australia on or before January 24, 2011; and
- payment to ATW Australia of AUD$4.0million on or before July 24, 2011; and
- payment to ATW Australia of AUD$2.0 million on or before October 31, 2011; and
The Company further reports that Mutiny Gold Ltd, operator of the Gullewa Copper-Gold Project, has notified ATW that drilling will commence on October 8, 2010.
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.
"Brent Butler"
Brent Butler
President & CEO
"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."