SnipGold Announces Private Placement

SnipGold Corp. (TSX VENTURE:SGG) ("SnipGold" or the "Company") is pleased to
announce, subject to TSX Venture Exchange ("TSX-V") approval, a non-brokered
private placement of non-flow-through units (Units) of the Company for gross
proceeds of up to $300,000.


Units

Each unit will be priced at $0.08 and will consist of one common share and one
non-transferable warrant of the Company. Each warrant will entitle the holder to
purchase one common share of the Company at $0.08 per share for a period of 24
months after the closing of the private placement.


Fees and Proceeds

Subject to TSX Venture Exchange approval, the Company may pay up to 7% cash
finders' fees in connection with the private placement. The proceeds will be
used to advance earn in discussions, compilation and interpretive work as well
as general corporate purposes.


About SnipGold

SnipGold Corp. is a Canadian junior exploration company focused on the
exploration and expansion of gold resources in northwest British Columbia.
SnipGold's board and management have significant experience in both the
discovery and development of gold projects in this area.


On Behalf of the Board of Directors,

SnipGold Corp.

John Zbeetnoff, Chief Executive Officer

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
SnipGold Corp.
John Zbeetnoff
CEO
604-681-3989
604-681-3557 (FAX)
[e-mail]
www.snipgoldcorp.com