Sniper Resources Ltd.

Sniper Resources Ltd.

February 17, 2010 15:54 ET

Sniper Adds New Director and Officer; Termination of Linka/Pete's Summit Option

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 17, 2010) - Sniper Resources Ltd. ("Sniper" or the "Company") is pleased to announce the appointment of Geir Liland to the board of directors and David Jennings as Corporate Secretary.

Geir Liland brings over 25 years of corporate finance, accounting and management experience to the Company. In 1982 Mr. Liland began a long career with the TSX Venture Exchange, formerly the CDNX and Vancouver Stock Exchange, retiring in August 2002, as Vice President, Corporate Finance (Vancouver).

Currently Mr. Liland is a business consultant and a director of several public companies. His understanding of corporate governance and his experience with the junior market will be an asset to the Company.

David Jennings is a Vancouver lawyer who has practised exclusively in the areas of corporate, securities, corporate finance and institutional venture capital law for over two decades. He has represented numerous public companies listed on NASDAQ and TSE and has previously served as a director of two TSE-listed natural resource companies. Mr. Jennings served as Chairperson for the Securities Subsection of the Canadian Bar Association (BC) and as member of the Securities Law Advisory Committee of the British Columbia Securities Commission.

Richard Radez has resigned as a director and the Company thanks Mr. Radez for his past services to the Company.

In addition, the Company has entered into an agreement with Columbus Gold (US) Corporation whereby the parties have confirmed that the Company's option to earn an interest in the Linka/Pete's Summit property in Nevada, USA has been terminated. Pursuant to the terms of the agreement, the Company has issued 332,337 common shares to Columbus Gold Corporation at an issue price of CDN$0.25 per share in payment of the balance owing to Columbus under the minimum USD$200,000 expenditure requirement set forth in the option agreement between the parties dated November 23, 2006, as amended.

Sniper has decided to focus its resources on its two other projects in Nevada which are under option from Columbus, namely the Overland Pass and Guild properties (see the Company's news release dated January 26, 2010).

Sniper Resources Ltd.

Scott Baxter, Chief Executive Officer 

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