Sniper Resources Ltd.

Sniper Resources Ltd.

October 13, 2010 15:25 ET

Sniper Completes Initial Public Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 13, 2010) - Sniper Resources Ltd. ("Sniper" or the "Company") is pleased to announce that it has completed its initial public offering under the Company's final prospectus dated July 15, 2010.

The Company issued 5,420,000 common shares, at a price of $0.25 per share, to raise gross proceeds of $1,355,000. The agent under the offering, Leede Financial Markets Inc., received a cash commission equal to 7% of the gross proceeds and broker warrants exercisable to purchase 542,000 common shares, representing 10% of the number of shares issued under the offering. Each broker warrant is exercisable to purchase one common share at a price of $0.25 per share until October 13, 2012.

The Company will be completing its filings with the TSX Venture Exchange and expects that its common shares will commence trading on the TSX Venture Exchange the week of October 25, 2010. A further news release will be issued closer to that time specifying the anticipated listing date.

The Company wishes to thank its existing and new shareholders for their support. 

Sniper Resources Ltd.

"Scott Baxter"

Scott Baxter
Chief Executive Officer

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including future plans or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include timeliness of government or regulatory approvals and other risks detailed from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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