Sniper Update: Private placement, Consolidation, Drilling Planned

Vancouver, British Columbia, June 14, 2013 - Scott Baxter, President and CEO of Sniper Resources Ltd. (TSX-V: SIP) ("Sniper" or the "Company") is pleased to announce:


Private Placement

Sniper is proceeding with a non-brokered private placement of up to C$600,000 comprised of up to 12,000,000 units at a price of $0.05 per unit. Each unit will be comprised of one common share and one share purchase warrant, with each share purchase warrant exercisable for a total term of five years at an exercise price of $0.10 per Warrant Share during the first two (2) years and at an exercise price of $0.25 per Warrant Share for the subsequent three (3) years.

The net proceeds from the private placement will be used for continued exploration on Sniper's Weepah Gold Project in Nevada. The placement is subject to regulatory approval. The directors of the company may participate in this placement. Commissions and/or finders' fees may be paid in connection with this placement.


Consolidation of Issued Capital

After seeking advice from advisory from with the financial community and following consultations with Sniper's major shareholders management has reached the conclusion and taken the decision that there will not be any consolidation of Sniper's issued capital in the foreseeable future.


Commentary

"In spite of the difficult financial markets faced by junior explorers, I have yet to hear any compelling case for consolidating our issued capital" said Sniper President and CEO Scott Baxter. "Sniper's gold exploration properties in Nevada have the same exciting potential for future discovery and development that they have always had, and it is not acceptable to me, either as a shareholder or as part of Sniper's management team, to rollback shareholders just out of expediency. Therefore, there will be no consolidation of Sniper's issued capital in the foreseeable future. Like you, I have never experienced a time when exploration financing was so difficult to obtain but, in my view, this confronts junior exploration companies with a stark but simple choice: they can hibernate and hope they survive to wake up after the fiscal winter, or they can carry on in the face of financial adversity. I want Sniper to carry on, so we are proceeding with a private placement and are putting plans in place for a late summer drill program on the Weepah Gold Property. Our senior shareholders have indicated a commitment this plan and I expect that management will subscribe for between 25 and 50% of the total amount of the financing. I believe that the path forward for Sniper is to stick with what we do...we explore for gold. The company will not advance by sitting idly by hoping for better times. What will make tomorrow better for all of our shareholders is exploration and discovery, so that is what I propose to do!"


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.

For further information about Sniper Resources and its Nevada projects please contact Mr. Scott Baxter, President and CEO at (604) 263-5614 or via email scottbax@telus.net.

To subscribe to Sniper's newsletter, The Sniper News, email us at infoatsniperresources@gmail.com. Please visit the Sniper Resources Ltd. website at www.sniperresources.com


"Scott Baxter"
Scott Baxter, President and CEO



Sniper Resources Ltd.
3374 West 19 th Avenue
Vancouver, British Columbia V6S 1C2
Telephone: (604) 263-5614, Toll Free: 1-888-737-2454


This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

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.