With first results of the bulk sampling program only days away and the possibility of the two exploration drilling crews hitting more kimberlite at any time now, investors are reminded that the s/p may not stay at its present level for very much longer.

If you read my previous posts, I hope that you will appreciate that I have done a lot of leg work to help in reducing the amount of DD that needs to be done. Snowfield represents a great speculative play which may be on the cusp of going to the next level and turning into something much bigger indeed.

In spite of the foregoing, I urge investors to do your own DD before investing.

I wish you all good luck…peterjr

Extract from Globe & Mail Interview with Robert Paterson - President, Director, and Chief Executive Officer:
IIG: And if your lab results are half as good Snap Lake's results?

RP: Again we would probably receive an offer from a major. Remember we can be profitable at half the quality of Snap Lake, and we would cost less than half the cost of any other active diamond mine in Canada because of our location.

Comments:
If the laboratory results of the current bulk sampling prove to be even mildly positive, the chances of Snowfield receiving an offer from a major are very good indeed. For share holders this may translate into a great possibility for good upside in a fairly short time frame.
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Extract from Globe & Mail Interview with Robert Paterson - President, Director, and Chief Executive Officer:
“In addition, we have completed magnetic surveys, and till sampling that have really allowed us to target in on these 17 hot spots where science is telling us Mother Nature maybe hiding her jewels.”

Comments:
Snowfield has an exceptionally good chance of hitting more kimberlite. Two drills are currently targeting the 17 hot spots referred to by Robert Paterson. As mentioned below, these kimberlite targets have a high probability of containing diamonds.
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Extract from Snowfield NR 06-33 – August 28th, 2006:
“Review of the published information from kimberlites worldwide, reveals that "green garnets" with similar chemical compositions to those found at Mud Lake, and in this new prospective area, fall into the same compositional range as those reported from a number of diamond bearing kimberlites. These kimberlites include the Premier, Kampfersdam, Newlands and Bulfontain mines in South Africa and the Udachnaya mine in Russia. It is also worth noting that every occurrence of "green garnets" in published information on kimberlites worldwide shows a direct correlation between the presence of “green garnets” and diamonds. In fact in almost every kimberlite where green garnets and diamonds are present these kimberlites are diamond mines. The Mud Lake kimberlite has the first reported occurrence of "green garnets" to be found in bedrock in the Slave Craton.”

Comments:
The unique chemistry of the kimberlite indicator minerals gives speculators a great deal of hope that the Mud lake deposit may become a very important diamond mine. Only the bulk sampling results will confirm this, but science is telling us that Snowfield may be on to something very big indeed.
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Extract from Snowfield NR 05-10 - April 12, 2005:
“Snowfield Development Corp. (SNO TSX-V) ("Snowfield") is pleased to announce that it has accepted an offer from De Beers Canada Exploration ("De Beers") to process a 500 tonne bulk sample from the Mud Lake kimberlite located on Snowfield's Ticho Project…”

Comments:
De Beers probably knows that the world-class chemistry of the Mud lake indicator minerals indicates that the Mud lake deposit has a great deal of potential to contain enough diamonds of sufficient quantity and quality to warrant spending a lot of money at no obligation to Snowfield. Any junior diamond explorer could not wish for a better vote of confidence from a huge mining major such as De Beers.
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Extract from Snowfield NR 03-26 – July 21, 2003:
“The project benefits enormously from its close proximity to Yellowknife where services, skilled labour and road infrastructure are available. The Ticho Diamond Project area is connected to Yellowknife in the winter by an ice road and in summer by water transport along the eastern shore of Great Slave Lake.”

Comments:
This means that, in order for the prospective mine to be economically viable, the required minimum value (or diamond count) per tonne of Mud Lake kimberlite can be significantly lower for Mud Lake than for many other existing and potential mines in the NWT. This greatly increases the chances that the forthcoming diamond count will yield positive results that prove that the Mud lake deposit could be turned into a very profitable mine.
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Extract from Snowfield NR 06-31 – August 16, 2006:
“Snowfield is very encouraged that these caustic fusion results confirm previous results and clearly demonstrate the diamondiferous nature of the Mud Lake kimberlite body and that a significant number of macro diamonds have been recovered.”

Comments (Courtesy Allan Barry):
“What it does indicate is that the kimberlite is diamond bearing and that it has the capacity to carry macro-diamonds. The presence of a macro-diamond is an indicator that there is the potential of commercial sized stones also being present.”
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Extract from Snowfield NR 07-01 – January 08, 2007:
“The Sipper Lake target was identified by analyses of high counts of kimberlite indicator minerals (KIM) retrieved from till sampling. These analyses indicate the kimberlite source to be diamondiferous”

Comments:
The drill crews are still searching for more kimberlite deposits close to the Mud Lake.
These yet-to-found deposits are indicated to contain diamonds. For investors that think that everything is riding on the results of the current bulk sampling program, this could not be further from the truth.
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