SnipGold Commences Drill Program to Test Multiple Targets

SnipGold Corp. (TSX VENTURE:SGG) ("SnipGold" or the "Company") (formerly Skyline
Gold Corporation) announces the commencement of the 2012 exploration program.
The focus of the program is to drill-test several high priority high-grade gold
targets. 


SnipGold has deployed an exploration program intended to drill-test several
targets that are believed to be excellent candidates to host high-grade gold
resources similar to the structurally controlled mineralization hosted in
Barrick Gold Corporation's historic Snip Mine located less than 100 metres from
the Company's Iskut Property (the "Property").


The operators of the historic Snip Mine recognized that the mine contained four
significant ore types, one of which made up 25%(1) of the mine and was a
sulphide-dominant ore. This ore type contained sufficient quantities of pyrite
and pyrrhotite in a style of occurrence where the rock would likely have had the
ability to conduct electrical current. Several geological structures of interest
have been found to possess this unique electrical property and SnipGold is
scheduled to drill test these targets in the summer of 2012. 


The proceeds realized from SnipGold's rights offering, while less than desired,
provided sufficient funds when combined with the existing treasury, to commence
a targeted drill program. From reviewing historic data in combination with the
2011 exploration results, the Company's exploration team was able to identify
specific high quality drill targets. Recent technological developments in
exploration techniques and advanced interpretative methods have significantly
enhanced the value of historic data and has refined the exploration team's
ability to select pierce points for drill testing.


SnipGold's exploration team selected several airborne electro-magnetic ("EM")
conductors to undergo detailed three-dimensional ("3D") EM modeling; a technique
which has never been applied on the Property and one that can deliver
drill-ready products.


The initial selection of EM conductors chosen for 3D EM modeling was based on
several geophysical properties as well as their geological setting. This
combination of features is expected to enhance the likelihood that these targets
represent "Snip-like" sulphide-dominant mineralization. Conductors with a trend
similar to the structures that hosted the historic Snip Mine were rated high in
priority and any conductor with coincident features such as subtle magnetic
variations or anomalous gold values were assigned the highest priority for 3D EM
modeling. A total of 43 conductors were modeled.


The product of the 3D EM modeling consists of 3D shapes that detail the
thickness of the conductive package, estimated strike length, estimated dip
length and estimated depth to the top of the conductor from surface. The
products are truly drill ready targets.


The 43 conductors modeled to date are located in the Johnny Flats, Burnie South,
Burnie North and the C1 areas. The SnipGold exploration team has laid out over
25 holes totaling approximately 5,800 metres required to test the highest
priority EM models. Phase-1 of the 2012 drill program consists of 7 holes
totaling approximately 2,000 metres. Drill testing will begin this week. Details
of the targets, including additional maps, will soon be available on the Company
website www.snipgoldcorp.com.


Mr. John Zbeetnoff, CEO, comments, "Our exploration team is very excited to test
the initial set of EM models as it has given us the ability to locate drill
targets using the latest remote sensing techniques that could reduce the need
for the more costly and time consuming conventional exploration techniques. This
year's drill program is the start of our progressive exploration of the Iskut
Property that will initially test for sulphide-dominant mineralization." 


The Qualified Person responsible for review of technical information in this
news release under the terms of NI 43-101 is John Zbeetnoff, P.Geo.


(1) Dave Rhys Thesis, 1993, Geology and Mineralogy of the Snip Mine Twin Vein 

About SnipGold

SnipGold Corp. is an exploration company focused on the exploration and
expansion of gold resources in northwestern 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