SnipGold Announces Private Placement

SnipGold Announces Private Placement
  
 

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 20, 2013) - 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.

SnipGold Corp.John [e-mail]