Sniper Resources Ltd.

Sniper Resources Ltd.

October 07, 2010 15:04 ET

Sniper Sets Closing Date for Initial Public Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2010) - Sniper Resources Ltd. ("Sniper" or the "Company") is pleased to announce that it plans to close its initial public offering under the Company's final prospectus dated July 15, 2010, on October 13, 2010. The offering is for a minimum of 5,400,000 common shares to a maximum of 7,200,000 common shares, at a price of $0.25 per share, to raise gross proceeds of $1,350,000 to a maximum of $1,800,000.

The offering is being conducted through Leede Financial Markets Inc. on a best efforts agency basis pursuant to an agency agreement with the Company dated June 21, 2010.

The offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from Leede Financial Markets Inc. at the address below. Investors should read the prospectus before making an investment decision.

Leede Financial Markets Inc.
Box 2, 1140 West Pender Street
 Suite 1800
Vancouver, BC V6E 4G1
 Telephone: (604) 658-3000
 Facsimile: (604) 658-3099

The Company also announces that it has received extensions from the property owner in respect of the Company's option agreements on the Overland Pass and Guild properties. The existing October 3, 2010 exploration expenditure deadline in respect of each property has been extended to December 31, 2010, with the balance of the expenditure requirements and deadlines under the existing option agreements remaining unchanged.

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 regarding plans for the completion of the Company's initial public offering and other future plans and objectives 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 market prices, availability of capital and financing, general economic, market or business conditions, regulatory changes, 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.

Contact Information