Sniper Resources Ltd.
TSX VENTURE : SIP
FRANKFURT : A1H38M

Sniper Resources Ltd.

January 26, 2012 14:59 ET

Sniper Resources Ltd.: Phase 2 Drilling Commences at Overland Pass

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2012) - Sniper Resources Ltd. (TSX VENTURE:SIP)(FRANKFURT:A1H38M) ("Sniper" or "the Company") is pleased to announce that the Company's Phase 2 Drilling Project Plan of Operations commenced on January 24th at the Company's Overland Pass property located immediately north of Barrick's Bald Mountain Mine. The Company has engaged Boart Longyear as contractor for the drill program which will comprise 25 drill holes from 20 drill sites.

Overland Pass previously had 13 holes drilled by Sniper during 2006-2007 with very encouraging results. The present work plan is based, in part, upon results from that program and in part, is designed to test additional areas of favourable geology that could not be tested during that program because of the biological and cultural clearances required in those areas, some of which had known high grade Au surface sampling results.

All scientific and technical information contained in this news release has been reviewed and approved by Douglas H. McGibbon, a director and the Vice-President, Exploration of the Company, who is a "qualified person" within the meaning of National Instrument 43-101.

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 is currently earning a controlling interest in four strategically located Nevada gold projects, namely, Guild, Overland Pass, Weepah, and Laura.

Sniper Resources Ltd.

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, without limitation, statements relating to the potential mineralization and geological merits of the Overland Pass property, and other future plans, objectives 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 risks relating to the actual results of current and planned exploration activities; actual results of trench samples remaining to be verified by a qualified person; the geology, grade and continuity of any mineral deposits; fluctuating gold prices; risks associated with property option agreements, leases, joint ventures and the ability to conclude joint venture agreements on favourable terms; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; availability of capital and financing required to continue the Company's exploration programs; general economic, market or business conditions; regulatory changes and restrictions including in relation to environmental liability; timeliness of government or regulatory approvals and other risks detailed herein and 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.

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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