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Sniper Resources Debt Settlement

05.10.2015  |  The Newswire
Vancouver, October 5, 2015 - Scott Baxter, President and CEO of Sniper Resources Ltd. (TSX-V: SIP) ("Sniper" or the "Company") is pleased to announce:


Debt Settlement

Sniper has arranged a shares-for-debt settlement with Royce L. Hackworth of Reno, Nevada, an arm's length creditor, to settle debt related to mandatory reclamation/remediation services performed on the Company's prior and presently owned mineral claims in Nevada.

A total of 241,000 shares will be issued at a price of $0.05 per share to settle C$15,775 (= US$12,050) of debt. The shares are subject to a four month hold period from the date of issuance. The debt settlement is subject to regulatory approval.


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 50.01% interest with the right to acquire the remaining 49.99% interest in the Weepah gold property, Nevada.

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


Sniper Resources Ltd.

Scott Baxter
President and CEO



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.

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