2008-01-30 05:37 ET - News Release

Mr. Robert Paterson reports

PRIVATE PLACEMENT ANNOUNCEMENT

Snowfield Development Corp. has negotiated a non-brokered private placement offering of 1.5 million units at a price of 35 cents per unit. Each unit consists 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 35 cents per share.

The proceeds from the sale of the units of up to $525,000 will be applied to programs of exploration on the company's Ticho project located near the Drybones Bay area, Great Slave Lake, Northwest Territories, approximately 50 kilometres south of Yellowknife, and to working capital for administrative expenses, accounts payable and operational expenses. Any funds received by the company from the exercise of warrants will be added to general working capital. The private placement will be closed when the final documentation is accepted for filing by the TSX Venture Exchange.

The common shares from the units and the common shares from the exercise of warrants, if any, are subject to a hold period of four months from the distribution date. The expiry date of each warrant is one year from the closing date.

We seek Safe Harbor.