News Release (NR 07-29) ?
November 7, 2007
Trading Symbol: TSX Venture:
Shares Issued: 78,740,869
Snowfield Development Corp.
(?Snowfield? or the ?Company?) is pleased to update progress at the Ticho
Project located 55km South East of Yellowknife, Northwest Territories.
As has previously been disclosed, Snowfield has successfully
extracted 500 tonnes of kimberlite as a bulk sample to assist the Company in
determining the economic viability of its discovery. The kimberlite is crushed,
bagged and sealed under industry standard protocols. The kimberlite is awaiting
onward shipping to DeBeers Canada Exploration Ltd. (?DeBeers?) Dense Media
Separation Plant located in Grande Prairie, Alberta. DeBeers will process the
500 tonne sample at no cost to, and with no obligation from, Snowfield.
Snowfield had originally contracted Northern Transportation Company Ltd.
(?NTCL?) to provide barge transportation for the 500 tonnes of kimberlite from
the Ticho Project to Hay River,
Northwest Territories. However, after missing three promised arrival dates for
their barge and tug at the Ticho Project, NTCL belatedly informed Snowfield on
Monday, November 5, 2007 that they were unable to fulfill their commitment to
Snowfield has now contracted Great Slave Helicopter Ltd. to provide
suitable aircraft to heli-lift the first 100 tonnes of kimberlite from the
project area to a nearest road
located approximately 25km to the north. Helicopter transportation will begin on
Friday, November 9, 2007 and should be completed by Monday, November 12, 2007.
The kimberlite bags will be loaded directly on to B-Train trucks, contracted by Snowfield, for onward shipping to Grande Prairie. It is expected
that trucking will be completed by November 20, 2007. The Company has received
confirmation from DeBeers that they anticipate being able to start processing
the first 100 tonnes in early December
Both of Snowfield?s drill crews
are currently on scheduled time off but drilling will resume on November 16,
2007 with both drills operational. Ground magnatometer surveys are currently
being conducted to locate and refine additional drill
A sample of core from hole #Swamp07-01 has been sent to a laboratory for
32 element assay. Results are expected in approximately ten
On behalf of the Board
VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENTS HEREOF.