SnipGold Corp.
TSX VENTURE : SGG

SnipGold Corp.

February 21, 2014 07:55 ET

SnipGold Appoints Chairman, Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 21, 2014) - SnipGold Corp. (TSX VENTURE:SGG) ("SnipGold" or the "Company") is pleased to announce that Patrick Soares has been appointed Chairman of the Board of Directors. The Company welcomes Patrick to his new position and looks forward to his guidance going forward.

The Company also wishes to announce that it, subject to TSX Venture Exchange approval, has granted a total of 1,205,000 Stock Options to employees, consultants, directors and officers at an exercise price of $0.10 per common share expiring after five years.

The Options issued to employees and consultants will vest under the Company's normal vesting provisions, which allow for 25% of the Options to vest upon issue, and the remaining 75% to vest over the next three anniversary dates.

A portion of the Options granted to directors and officers have incentive based conditions for vesting. The initial 25% vested on grant date and 50% will vest over the next two anniversary dates. The remaining 25% of the Options will only vest once certain predetermined performance criteria are met. These criteria are set by the Board of Directors.

About SnipGold

SnipGold Corp. is a Canadian junior exploration company focused on the exploration and expansion of gold resources in northwest British Columbia. SnipGold's board and management have significant experience in both the discovery and development of gold projects in this area.

On Behalf of the Board of Directors

SnipGold Corp.

John Zbeetnoff, Chief Executive Officer

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