Sniper Private Placement Update

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Sniper Resources Ltd. ("Sniper" or the "Company") (TSX VENTURE:SIP) is
continuing to use its best efforts to complete the private placement of up to
12,000,000 units at $0.05 per unit announced on January 16, 2013. Each unit will
consist of one common share of the Company and one warrant to purchase an
additional common share at $0.10 per share for a period of two years. Finder's
fees of 10%, payable in cash, may be paid to eligible persons in connection with
the private placement. The Company anticipates closing the private placement
before the end of March, 2013. 


The proceeds of the private placement will be used firstly, for working capital
purposes and secondly, for a Phase 3 drilling program on the Weepah property
depending on the amount of funds raised in the private placement. Please refer
to the Company's previous news releases for assay results and additional details
on the Weepah property. 


This private placement remains subject to receipt of all necessary regulatory
approvals including acceptance by the TSX Venture Exchange.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the Company's securities in the United States. The
securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "1933 Act"), or any state securities
laws and may not be offered or sold within the United States or to U.S. persons
unless registered under the 1933 Act and applicable state securities laws, or an
exemption from such registration is available. Any public offering of securities
in the United States must be made by means of a prospectus that contains
detailed information about the Company and its management, as well as financial
statements.


Sniper Resources Ltd. 

Scott Baxter, Chief Executive Officer  

This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the completion of
a private placement, and other future plans, objectives or expectations of the
Company are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's plans or expectations include
risks relating to: availability of capital and financing required to complete
the private placement and to continue the Company's exploration programs;
general economic, market or business conditions; the actual results of current
and planned exploration activities; the geology, grade and continuity of any
mineral deposits; fluctuating gold prices; risks associated with property option
agreements, leases, joint ventures and the ability to conclude joint venture
agreements on favourable terms; possibility of accidents, equipment breakdowns
and delays during exploration; exploration cost overruns or unanticipated costs
and expenses; regulatory changes and restrictions including in relation to
environmental liability; timeliness of government or regulatory approvals and
other risks detailed herein and from time to time in the filings made by the
Company with securities regulators. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise except as
otherwise required by applicable securities legislation.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sniper Resources Ltd.
Scott Baxter
Chief Executive Officer
604-263-5614 or Toll Free: 1-888-737-2454
scottbax@telus.net
www.sniperresources.com
Sniper Resources Ltd. (TSXV:SIP)
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