News Release (NR
08-01) ? January 9, 2008
Trading Symbol: TSX Venture: SNO
Shares Issued: 82,565,244
2008 EXPLORATION DRILL PROGRAM
COMMENCED
Snowfield Development Corp. (?Snowfield? and the
?Company?) announces that its 2008 exploration drill program commenced today at
the Ticho Diamond Project located 55km Southeast of Yellowknife, NWT. Two crews
are currently in camp and drilling on a 24 hour basis with a third crew expected
to be mobilized on January 15th, 2008. The current exploration
drilling is focused on identifying new kimberlite bodies known to exist to the
Northeast of the previously discovered Mud Lake diamondiferous kimberlite. These
targets include Swamp Lake, Aspen Lake and the Sipper Lake
area.
Ice road access has been established to the Ticho Project from
Yellowknife with the contractor now maintaining and widening the road to accelerate ice formation. When suitable ice thickness is achieved Snowfield will
complete the removal of the remaining 400 tonnes of crushed, bagged and sealed
kimberlite from the original 500 tonne bulk sample taken in 2007. Once removed
from the site, the 400 tonnes will be shipped to DeBeers Canada Exploration Ltd.
(?DeBeers?) Dense Media Separation Plant in Grande Prairie, AB, for processing
and concentration. The initial 100
tonnes of the 500 tonne sample was successfully processed by DeBeers in December
2007. The concentrate from the initial 100 tonnes has now been received by the
two laboratories contracted to undertake diamond recovery. 1,040.91 kilos is
being processed by the Saskatchewan Research Council (?SRC?) and a further
518.80 kilos was shipped to DeBeers Laboratory in Johannesburg, South Africa.
Snowfield has been notified that their Qualified Person, as defined by NP
43-101, will be on site in Saskatoon on February 4, 2008 to audit the diamond
recovery process by SRC. Results are expected shortly thereafter.
Snowfield anticipates a very active 2008 exploration program including
exploration drilling of numerous targets previously identified, as well as
ongoing geophysical and geochemical mapping, further prospecting and delineation
drilling of the Mud Lake kimberlite complex, currently open in three directions
and identified over 34 acres to date. The Ticho Project encompasses over 40,000
acres.
On behalf of the Board of Directors,
Snowfield Development Corp
?Robert T.
Paterson?
Robert T.
Paterson
President and
Director
THE TSX
VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENTS HEREOF.