Mr. Robert Paterson reports

PRIVATE PLACEMENT ANNOUNCEMENT

Snowfield Development Corp. has arranged a non-brokered private placement offering (No. 49) of up to three million units at a price of 10 cents per unit. Each unit will consist of one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant will be exercisable for a period of one year from the closing date and will entitle the holder to purchase one additional common share in the capital stock of the company at a price of 15 cents per share.

The proceeds from the sale of the units, if fully subscribed, of $300,000.00 will be applied to working capital for administrative expenses, accounts payable and exploration expenses.

The private placement will be closed when the final documentation is accepted for filing by the TSX Venture Exchange.