ATW Gold Corp. is pleased to report the company recently signed an agreement with Mutiny Gold Ltd. whereby Mutiny may earn an interest in ATW Australia's Gullewa Gold Project in Western Australia.

Under the Agreement, dated July 20, 2010, Mutiny can earn a 70% interest in the Gullewa project by making exploration expenditures and paying to ATW Australia a total of AUD$9,000,000.   Upon earning a 70% interest in the Gullewa Project, Mutiny may acquire a further 30% interest by completing a positive feasibility study and by paying to ATW an additional AUD$4,000,000.  If it so elects, then it will have acquired the Gullewa Project 100% and ATW Australia will retain a 10% net profit interest.

Highlights of the Gullewa Gold Project Agreement:

• Mutiny to farm into ATW Gold Corp’s Gullewa Gold Project by paying $9m to earn 70% in a company transforming transaction
• The project contains substantial existing resources totaling 650,000oz gold (Au) and 25,000 tonnes of copper (Cu) including Measured and Indicated Resources of 230,000oz Au and 17,000 tonnes Cu
• There is significant potential through near mine exploration to increase these resources
• Infrastructure includes 300kt pa mill, camp, offices and other facilities
• One of the most prospective tenement holdings in the WA goldfields
• Significant pre-approvals, agreements and permits in place to commence mining
• Focus on bankable feasibility and mining ramp up planned for 2010/11
• Preliminary Mine Studies indicate operation would be profitable

“ATW is pleased to be working on the Gullewa Project with Mutiny Gold.  We feel Mutiny Gold is the best option to bring Gullewa into commercial production. Shareholders of ATW will be able to participate in any future cash flows at Gullewa with no dilution to ATW’s current capital structure. This Agreement, combined with the recent sale of Burnakura, leaves ATW completely debt free. We will now focus on utilizing our current resources to source new acquisitions.”Brent Butler, ATW’s President 

“The acquisition of Gullewa is a key milestone toward realizing the company’s objective of becoming a profitable gold producer in the Murchison region. “This is a very advanced project in the highly prospective Gullewa Greenstone Belt with substantial upside exploration and development potential. The Deflector is essentially a “new mine” that previously underperformed due to the lack of a copper flotation circuit.” John Greeve, Mutiny Managing Director

Additonal information regarding Mutiny Gold’s  fall exploration and development plans for the Gullewa Gold Project can be found at:  www.mutinygold.com.au