Snowfield Development Corp.

Snowfield Development Corp.

April 03, 2007 15:25 ET

Snowfield Development Corp.: Ticho Project Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2007) - Snowfield Development Corp. (TSX VENTURE:SNO) is pleased to update progress at the Ticho Project, located approximately 55 km southeast of Yellowknife, NWT. As previously reported (NR06-09, NR06-43) a bulk sample of the diamondiferous Mud Lake kimberlite is currently underway. This bulk sample of up to 500 tonnes will provide Snowfield with a better understanding of the grade of diamonds contained within the top lense of kimberlite at Mud Lake. To date, four lenses of kimberlite, stacked approximately horizontally, have been intersected with the extent of the various lenses now confirmed over an area of approximately 32 acres and open in three directions.

Bulk Sampling

The access ramp to the top lense is now nearing completion with kimberlite expected to be encountered this week. Crews are working around the clock to accomplish this task and the Company has been assured by the primary material moving contractor that they are confident they will meet all commitments in regards to the excavation of the kimberlite. The blasting of the ramp has been complicated when fractured granite strata were encountered during the blasting process. This has now been ameliorated with the drilling contractor mobilizing extra equipment to expedite their blasting schedule. Snowfield can now confirm that all equipment necessary for the excavation, crushing, weighing and bagging of the kimberlite is now on site. The crusher mobilized to Mud Lake over the weekend of March 31-April 01, belongs to Snowfield and will remain at Mud Lake as the Company is now planning additional bulk samples, as required, to further quantify the economic potential of this deposit. Snowfield maintains that bulk sampling is the only reliable method of quantifying the economic viability of a diamondiferous kimberlite and Snowfield is in the fortunate position, due to location, and the proximity of the Ticho Project to infrastructure, to be able to economically carry out such bulk samples.

Exploration Drilling

As previously announced (NR07-12) Snowfield has purchased a Longyear 28 diamond-drilling rig to complement the existing drill rig now under contract to the Company. The purchase of this rig was necessitated by the current highly competitive environment in North America with regard to mineral exploration and the consequent shortage of available contract drilling equipment and crews. As Snowfield has an aggressive drill exploration program planned for the remainder of 2007, this acquisition makes economic and logistical sense.

After assembly and initial run-in, Snowfield has both drill rigs drilling on Sipper Lake. Extensive geochemical and geophysical surveys have confirmed Sipper Lake as the most probable location of the second diamondiferous kimberlite on the Ticho Project. These two rigs are now drilling holes Sipper 04 & Sipper 05 into a mag high coincident with an unusually deep lake bottom contour and midway between a very high kimberlite indicator mineral count soil sample and a sample that returned no indicator minerals. The first three Sipper drill holes all encountered a near vertical diabase dyke. Snowfield finds this encouraging in that the majority of kimberlite intersections at Mud Lake were associated with diabase.

Snowfield is currently negotiating to have an airborne geophysical survey conducted over their 100% owned Red Claims, a contiguous part of the Ticho Project, with the survey planned for this month. Access trails are also being constructed to previously identified drill targets so drilling can continue once the Sipper Lake kimberlite has been identified.

On behalf of the Board,


Robert T. Paterson, President and Director

Shares Issued: 71,130,728

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents hereof.

Contact Information