Sniper Appoints Director, Officer; Grants Options
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/01/13 -- Scott Baxter, President and CEO of Sniper Resources Ltd. (TSX VENTURE: SIP) ("Sniper" or the "Company") is pleased to announce:
Appointment of Director and Officer
John Cumming has been appointed as a director, Chief Financial Officer and General Counsel to the Company.
Mr. Cumming is a corporate, securities and mining lawyer and businessman, and has been active in the Canadian securities markets and resource exploration sector since 1978. Mr. Cumming graduate of the University of British Columbia BA and LLB and of Kings College, London, LLM with specialty in Corporate and Commercial Law. Until 1992, Mr. Cumming was the senior securities and mining law partner at a mid-sized Vancouver law firm and has been a member of the Law Society of British Columbia since 1978. Mr. Cumming is a director and Executive VP, CFO, Secretary and General Counsel of Merrex Gold Inc. and a director of Elcora Resources Inc., both TSX listed companies.
The Company has entered into an Executive Services Agreement with Mr. Cumming for the provision of these services at a remuneration of $110,000 for twelve months and the grant of stock options detailed below.
Grant of Stock Options
Pursuant to the Company's rolling incentive stock option plan 1,000,000 incentive stock options have been granted to Mr. Cumming. The stock options are exercisable for five years at $0.10 per share. The closing price of Sniper's shares on the TSX Venture Exchange on April 30, 2013 was $0.02 per share.
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 Laura and ReHot properties and holds options to earn a controlling interest in two additional strategically located gold projects, the Overland Pass and Weepah properties, all in Nevada.
Scott Baxter, Chief Executive Officer
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.
Contacts:
Sniper Resources Ltd.
Mr. Scott Baxter
(604) 263-5614 or Toll Free: 1-888-737-2454
scottbax@telus.net
www.sniperresources.com