Sniper Resources Ltd.
TSX VENTURE : SIP
FRANKFURT : A1H38M

Sniper Resources Ltd.

May 18, 2012 14:52 ET

Sniper Closes Final Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sniper Resources Ltd. ("Sniper" or the "Company") (TSX VENTURE:SIP)(FRANKFURT:A1H38M) announces that it has closed a final tranche of its previously announced non-brokered private placement of units and has issued an additional 133,333 units at $0.15 per unit. No finder's fees or commissions were paid in connection with the private placement. Each unit consists of one common share and one warrant to purchase an additional common share at $0.25 per share for a period of three years.

The proceeds of the private placement will be used towards the exploration program on the Weepah gold property and for general working capital purposes.

All securities issued or issuable under this tranche of the private placement are subject to a hold period under applicable Canadian securities laws expiring on September 18, 2012, in addition to such other restrictions as may be applicable under securities laws outside Canada.

ABOUT SNIPER RESOURCES LTD.

Sniper Resources Ltd. is engaged in the identification, acquisition and exploration of gold properties in the State of Nevada, USA. Sniper owns a 100% interest in the ReHot project and holds options to earn a controlling interest in four strategically located Nevada gold projects, namely, Guild, Overland Pass, Weepah, and Laura.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. Any public offering of securities in the United States must be made by means of a prospectus that contains detailed information about the Company and its management, as well as financial statements.

Sniper Resources Ltd.

Scott Baxter, 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.

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