SnipGold Corp.: Proposed Warrant Extension

SnipGold Corp. (TSX VENTURE:SGG) ("SnipGold" or the "Company") (formerly Skyline
Gold Corporation) announces that it has applied to the TSX Venture Exchange
(TSX-V) for approval to extend the expiry date of certain common share purchase
warrants issued as part of the Share Rights Offering which closed July 5, 2012. 


The warrant expiry shall be extended for an additional forty-five (45) days.
1,097,628 non-transferable Flow-Through Warrants shall be amended to expire
October 19, 2012. 


All other terms and conditions of the Warrants, including the exercise price of
$0.75, remain unchanged. For information pertaining to the Warrants please see
the Company's news releases dated April 26, 2012, May 22, 2012, May 24, 2012,
June 7, 2012, June 21, 2012, July 9, 2012 and July 13, 2012. Details of the
terms of the issued securities are also contained in the Company's final
prospectus dated June 6, 2012, which is available on SEDAR at www.sedar.com. 


The proposed extension remains subject to TSX-V approval. 

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

Forward Looking Statements

Statements in this press release include certain "forward-looking information".
Statements in this news release regarding the terms of the Offering and the
Company's use of the proceeds of the Offering contain forward-looking
information. Readers are cautioned that actual events may vary from the
forward-looking information contained in this news release. Material risk
factors that could cause actual results to differ materially from the
forward-looking information in this news release include, but are not limited
to, changes in market conditions or regulatory requirements applicable to the
Offering. The forward-looking information in this news release is based on the
assumptions that market conditions and regulatory requirements will not change
in any material respect and that the Company will be able to obtain all
approvals required for the completion of the Offering. The Company does not
assume any responsibility for updating forward-looking information, except as
required by law.