SnipGold Increases and Closes Private Placement

SnipGold Corp. (TSX VENTURE:SGG) ("SnipGold" or the "Company") reports that the
$150,000 non-brokered flow-through private placement announced July 2, 2014, was
oversubscribed and has been increased to $165,465. The private placement has
closed, subject to TSX Venture Exchange ("TSX-V") final approval. Insider
participation in the placement was just over 40% of the proceeds.


Units

The Company has issued 1,654,650 units at a price of $0.10 per unit. Each unit
consists of one flow-through common share and one-half of one non-transferable
non-flow through warrant of the Company. One full warrant will entitle the
holder to purchase one common share of the Company at $0.12 per share for a
period of 18 months after the closing of the private placement. All shares
issued have a hold period which will expire 4 months from date of issue.


Fees and Proceeds

In accordance with TSX-V regulations and approval, the Company may pay up to 7%
cash finders' fees in connection with the private placement. Funds from this
financing will be used to carry out a small verification field program this
season; to complete pre-existing field commitments; and for the continuation of
the compilation of historic data and interpretive work.


The 2014 SnipGold field program will be carried out their Iskut Property and
will test geological concepts highlighted in the interpretative work completed
over the last year. This exploration work is expected to be held in conjunction
with Colorado Resources Ltd.'s ("Colorado") first exploration program on the
adjacent KSP Property ("KSP"). Colorado's 2014 KSP exploration marks the first
phase of field work in connection with an earn-in agreement between Colorado and
the Company (see News Release dated December 20, 2013). 


The December 2013 earn in agreement allows for Colorado to spend up to $10
million on KSP and to make cash payments totaling $500,000 to SnipGold over the
next five years to fully satisfy all of their earn in options on KSP.


About SnipGold

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


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