SnipGold Provides Update and Announces 2013 Field Program Results

SnipGold Corp. (TSX VENTURE:SGG) ("SnipGold" or the "Company") is pleased to
provide an update on current activities and the results of its 2013 field
program.


The 2013 field program was constrained by limited exploration funding; however,
management advanced work on three fronts, thereby;




1.  adding value to the project, 
2.  attracting new non-dilutionary sources of funding to the Company, and 
3.  satisfying regulatory requirements. 
    
    

1.  Adding Value 
    
    

--  Reconnaissance level field investigations in 2013 at both the McFadden
    and the Khyber Pass areas confirm high-grade gold potential as well as
    potential for large porphyry systems. Sampling results include; 
--  Samples up to 155.5g/t Au at McFadden 
--  Sample taken from an EM conductor representing a sulphide shear vein on
    strike with Johnny Mountain Mine, assayed greater than 100g/t Au(i)
    ((i)indicates metal content exceeds upper range for analytical method) 
--  Khyber mineralized system is now believed to extend easterly 2km east to
    Pyramid Hill and more than 2km north to the Inel Deposit 
--  Additional claim staking has expanded the Iskut Property to include
    regional system of all-weather roadways and future infrastructure. 
    
    

2.  Attracting Earn-In Partners 
    
    

--  The Company has aggressively pursued discussions with a number of
    parties interested in participating in Option Agreements on one or more
    of the targets on the Property. Confidentiality Agreements have been
    signed by several interested groups and technical data has been
    transferred for their review. 
--  Management also conducted site visits with several of these potential
    partners in 2013. 
--  Discussions with potential candidates are on-going and management is
    working towards completing one or more agreements that will advance any
    of the numerous targets on the Property. 
    
    

3.  Regulatory Requirements 
    
    

--  Management conducted the annual water quality sampling at the historic
    Johnny Mountain Mine site in compliance with the Company's Reclamation
    Permit. The analytical data from these samples will be used as the
    technical basis for the Company's Annual Reclamation Report due to the
    provincial government in the spring of 2014. 



Technical Details of 2013 Exploration Program: 

In depth geological compilation and interpretative work has been on-going since
2011. These efforts have recently focused on the McFadden Float Zone, Khyber
Pass and the Inel areas of the Property. This work highlighted the need for
reconnaissance level exploration and a small program was designed to test
specific exploration concepts in these areas.


1. McFadden Float Zone Sampling

Prior to this year's program, the most recent exploration at the McFadden Float
Zone was carried out in the late 1980's with those efforts highlighting a linear
trend of high grade gold(1) boulders situated topographically above and to the
east of the historic Johnny Mountain Mine. The early exploration efforts did not
locate the outcrop source for the high-grade gold boulders.  


((1)A total of 43 historical samples were collected at the McFadden Float Zone
in the late 1980's and these historic samples have an average gold grade of
65.7g/t Au, individual historical McFadden assays are as high as 205.0g/t Au.
These historic assay data are part of SnipGold's exploration records and have
been assayed by Chemex, Acme, and Skyline Mine Lab. The Company's qualified
person has not verified these historic data).


Sampling during the 2013 exploration program collected a total of 30 grab
samples at McFadden and an additional two grab samples collected at the surface
expression of an EM conductor that marks the Johnny Mountain Mine Trend. 


Figure 1 highlights the area of historical McFadden sampling as well as displays
the locations of the 2013 McFadden and Johnny Mountain Mine samples. Table 1
details the 2013 McFadden assay results. The four highest grade gold samples
collected in 2013 at and up-slope of McFadden are:




--  155.5 g/t Au and 40.7g/t Ag, boulder sample within the area historically
    mapped as McFadden Float Zone - confirms historical high grade gold
    assays at McFadden 
--  98.1 g/t Au and 33.5g/t Ag, boulder sample collected on the glacier, up-
    slope from the limits of earlier sampling 
--  27.4 g/t Au and 6.1g/t Ag, boulder sample collected 50 meters north of
    the linear trending McFadden Zone and is up-slope of the toe of the
    historic glacier limits in 1990 
--  23.2 g/t Au and 8.6g/t Ag, boulder sample collected approximately 200m
    up-ice from the limits of historical sampling. 

============================================================================
Sample-ID     Au g/t  Ag (g/t)  Cu (ppb) Pb (ppb)  Zn (ppb)    S (%)  Fe (%)
============================================================================
McFadden Float Zone                                                         
----------------------------------------------------------------------------
M978253      155.500      40.7     12950   1085.0       280    14.65   14.50
----------------------------------------------------------------------------
M972651       98.100      33.5     21700    278.0      1505    18.55   20.30
----------------------------------------------------------------------------
M972663       27.400       6.1      2830    258.0       982    14.05   13.10
----------------------------------------------------------------------------
M978258       23.200       8.6      3580    149.0      1515     0.84   11.70
----------------------------------------------------------------------------
1747551       20.821      49.2  10000(i)    197.1      6151 10.00(i)   18.83
----------------------------------------------------------------------------
M978255       16.600      11.3       580    103.0       179     5.30    8.73
----------------------------------------------------------------------------
M972661        9.330       9.3        91    245.0       167     5.92   11.40
----------------------------------------------------------------------------
M978259        8.210      15.9     11550    156.0       652    11.50   12.40
----------------------------------------------------------------------------
M978257        7.110      18.6      4730   2420.0     96000     8.77    5.81
----------------------------------------------------------------------------
M972652        4.560       6.3       854     61.0        97     7.71    8.18
----------------------------------------------------------------------------
M972664        1.615       3.4       463   1880.0       490     0.22    1.85
----------------------------------------------------------------------------
Average(ii)                                                                 
 of 19                                                                      
 additional                                                                 
 samples       0.158       1.8       452    156.1       596     3.67    5.53
----------------------------------------------------------------------------
Table 1. 2013 assay values for McFadden samples ((i)indicates metal content 
exceeds upper range for analytical method. (ii) Average assay values for the
group of 19 samples that assayed under 1.00 g/t Au).                        



Glacial retreat over the past 25 years is known to have exposed additional
outcrop as well as additional moraine up-ice from the historic McFadden
sampling. The 2013 program confirmed that the ice has retreated up-slope, and
more notably has exposed significantly more bed rock than was previously
available for detailed exploration. 


Future exploration of the McFadden area will expand on the work completed in
2013 and will include the search for the source of the high grade gold
mineralization.


2. Johnny Mountain Mine Trend Sampling

Sampling in 2013 includes two samples collected along the northeast extension of
the Johnny Mountain Mine structure and down slope of the McFadden area. Table 2
details the assay results of these two samples.




============================================================================
Sample-ID      Au g/t  Ag (g/t)  Cu (ppb) Pb (ppb)  Zn (ppb)   S (%)  Fe (%)
============================================================================
Johnny Mountain Mine Trend                                                  
----------------------------------------------------------------------------
1747561        100(i)      63.8      6639    670.1  10000(i)   10(i)   20.54
----------------------------------------------------------------------------
1747562         0.034       3.1       294     80.7      1285    6.21    9.23
----------------------------------------------------------------------------
 Table 2. 2013 assay values for samples taken on trend with Johnny Mountain 
                                    Mine.                                   
   ((i)indicates metal content exceeds upper limit for analytical method).  



Sample 1747561, assayed in excess of 100g/t Au(i), and was collected from an
outcropping of a sheared sulphide vein 0.5m in width. This exposure is located
350m northeast of where the Johnny Mountain Mine projects to surface and is
coincident with the surface expression of a strong EM conductor. This area has
been drill tested extensively by a series of short holes in the late 1980s and
early 1990's. The core from these early drill holes underwent limited sampling
and delivered spotty gold results. This area is not believed to have been
thoroughly tested.


A considerable inventory of historical core for the Johnny Mountain Mine area
remains available and future exploration of this area will include re-logging
the historical core with additional sampling implemented as required. The
northeast trend of the Johnny Mountain Mine structure has been partially
explored and will undergo a review to determine the potential for high grade
gold mineralization along strike and at depth. This area is virtually untested
below 100m from surface.


To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/Snip_FIGURE1.pdf. 


3. Khyber Pass Site Review

The Khyber Pass area was last explored in the early 1990's. The area is
highlighted by a well-developed gold-in-soil anomaly approximately 1200m x 400m
in dimension. The anomaly is open along strike and down slope. The average grade
of the roughly 1100 Khyber soil samples compiled to date is 810ppb gold.


Geological mapping during the 2013 field season correlated the southern contact
of the Khyber Pass alteration system to the southern contact at Pyramid Hill
roughly 2km to the east. It is believed these two areas are part of the same
porphyry system.


Geological interpretation suggests that the gold anomaly at Khyber is closely
related to the Inel Deposit, 2.0km to the north. Historic exploration at Inel
targeted mineralization similar to the high-sulphide ore at both the Snip Mine
and at Johnny Mountain Mine. The early work included approximately 1085m of
underground development and a total of 192 drill holes. These data are still
under compilation.


Figure 2 displays what is interpreted as the bounds of the mineralized system
located at the Inel, Khyber, and Pyramid Hill areas. Table 3 details the assay
results from the 2013 Khyber Pass sampling and verify that porphyry style grades
exist at surface at Khyber. 




============================================================================
Sample-ID     Au g/t  Ag (g/t)  Cu (ppb) Pb (ppb) Zn (ppb)     S (%)  Fe (%)
============================================================================
Khyber Pass Samples                                                         
----------------------------------------------------------------------------
1747563        2.961       0.2        19      3.7      190      0.67    2.36
----------------------------------------------------------------------------
1747575        1.669       4.9       377      9.0      439      8.82   11.56
----------------------------------------------------------------------------
1747571        0.859       3.3       944     11.0       89  10.00(i)   19.57
----------------------------------------------------------------------------
1747576        0.565      11.4      1035     10.3      756      7.36    8.49
----------------------------------------------------------------------------
1747566        0.523       2.3        48     10.2       19      1.73    3.59
----------------------------------------------------------------------------
1747579        0.396       8.8       481     49.3     5020      6.86    9.74
----------------------------------------------------------------------------
1747564        0.370       2.0        11      5.3        5      0.25    6.18
----------------------------------------------------------------------------
M972659        0.341       3.0        41     18.0       10     27.10   22.20
----------------------------------------------------------------------------
M972657        0.331       2.7       163     36.0     1910      4.16    5.12
----------------------------------------------------------------------------
1747577        0.268       1.9       167     64.8      753      2.82    5.10
----------------------------------------------------------------------------
1747567        0.208       1.5        24      8.3        5      0.17    1.69
----------------------------------------------------------------------------
Average(iii)                                                                
 of 12                                                                      
 additional                                                                 
 samples       0.164       1.8       233     16.3      519      4.49    6.38
----------------------------------------------------------------------------
Table 3. 2013 assay values for Khyber Pass samples. ((i)indicates sample    
assay value exceeds upper range for analytical method. (iii) Average assay  
values for the group of 12 samples that assayed under 0.20 g/t Au).         



The 2013 sampling at Khyber and the historical mapping of the alteration
indicates that Khyber is a large porphyry system that likely extends to Pyramid
Hill and to Inel.


To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/Snip_FIGURE2.pdf. 


2013 Claim Staking 

The Company has strategically expanded the Iskut Property in 2013 and total land
holdings now exceed 283km2. Several key claims have been added and the Company's
Property now consists of a contiguous claim group. 


The most significant claims added in 2013 extended the property eastward,
upstream along the Iskut River beyond the point where AltaGas has completed
construction of an all-weather road network that leads to highway 37. 


This corridor will also be utilized for the transmission lines that will service
the AltaGas McLymont Creek run of river hydroelectric facility. The current
claim map for the Iskut Property can be viewed through the "Mineral Tenures
Claims Map" link on the Properties webpage on the Company website.


Site Visits and Earn-In Partners 

The persistence of the difficult financial market has been particularly
penalizing on the junior mineral exploration sector. These market conditions
require prudent control on expenditures and caution applied to capital raises
where a focus needs to include minimizing share dilution.


As such the Company continues to pursue the mandate to aggressively seek
appropriate partner(s) to fund physical work on the property whereby vesting a
percentage interest into the ownership of the Property.


In pursuit of this goal, the Company has entered into several Confidentially
Agreements and Non-Disclosure Agreements whereby several candidates have been
reviewing the Company's data, some of whom have conducted site visits. 


Comments 

Mr. Zbeetnoff reports, "I am pleased with the results of our 2013 exploration
program. Despite the very short duration of the program a significant amount of
critical work was completed. Reconnaissance level assessment of the McFadden,
northeastern Johnny Mountain Mine Trend and the Khyber mineralized system
highlight key areas that have undergone limited historical exploration. 




--  The 2013 McFadden sampling has confirmed the presence of high-grade gold
    at McFadden but also located similar mineralization farther up-slope
    than has been collected in the past. 
--  Significantly more bed rock exposure is now available for exploration at
    McFadden than was available in the past. 
--  The combination of compilation work over the past year combined with the
    ground-truthing completed in 2013, we now consider the Khyber Pass
    mineralized system extends to the Pyramid Hill area to the east and to
    the Inel Deposit to the north. 
--  The samples collected at the Johnny Mountain Mine extension EM conductor
    clearly demonstrates that the sulphide dominant high-grade
    mineralization on the Iskut Property can respond well to EM surveys. 



In the short term, the Company will be focused on continuing the in-house
compilation and interpretive work and will aggressively pursue an earn-in
partner(s) to advance the project on behalf of shareholders."


Quality Assurance and Quality Control ("QAQC") 

SnipGold utilizes standard industry practices in quality control and quality
assurance with insertion of multiple blind control samples in each sample batch
submitted to the laboratory. Core samples are also subjected to a robust program
of field duplicates, as well as preparation and assay duplicate analyses. The
Snip Gold QAQC program is completed in addition to the internal quality
assurance and quality control practiced by the analytical laboratory. 


Sample series starting with the sequence "M97" have been collected by SnipGold
staff and assayed at ALS Chemex. Samples with a sample number prefix of "174"
have been collected by an independent third party and were analyzed at ACME
Analytical.


M97-Series samples have under gone preparation and analysis conducted by ALS
Canada Ltd in North Vancouver, BC. The North Vancouver laboratory is ISO/IEC
17025 certified.


174-series samples underwent sample preparation at ACME's Smithers facility with
analyses carried out by ACME Vancouver. ACME is registered under ISO 9001. 


The geologist and Qualified Person under the terms of National Instrument 43-101
responsible for the verification of work and data acquisition for SnipGold is
John Zbeetnoff, P. Geo. 


The Qualified Person responsible for this news release under the terms of
National Instrument 43-101 is John Zbeetnoff, P.Geo.


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 the 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


Statements in this release may be viewed as forward-looking statements. Such
statements involve risks and uncertainties that could cause actual events to
differ materially from those projected. There are no assurances the Company can
fulfil such forward-looking statements and the Company undertakes no obligation
to update statements. Such forward-looking statements are only predictions;
actual events or results may differ materially as a result of risks facing the
Company, some of which are beyond the Company's control.


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