Sniper Resources Ltd : Private Placement – Tranche #1 Closes

Vancouver, British Columbia, October 1, 2013 - Scott Baxter, President and CEO of Sniper Resources Ltd. (TSX-V: SIP) ("Sniper" or the "Company") announces:

Private Placement Tranche #1 Closes

Further to the Company's news release of June 14, 2013, Sniper has closed the first tranche of its non-brokered private placement and issued 1, 770,000 units to five places including one director to net $88,500 to treasury. Each unit is comprised of one common share and one share purchase warrant, with each share purchase warrant exercisable for a total term of five years at an exercise price of $0.10 per Warrant Share until September 24, 2015 and at an exercise price of $0.25 per Warrant Share for the subsequent three (3) years ending September 24, 2018. The shares and any shares issued pursuant to an exercise of the share purchase warrants are subject to a hold period until January 25, 2014.

The Company continues to seek further financing to complete the proposed C$600,000 total private placement.

The net proceeds from tranche #1 of the private placement will be used for necessary working capital. Proceeds from subsequent tranches of the private placement will be used for continued exploration on Sniper's Weepah Gold Project in Nevada and general corporate purposes. Additional tranches of the private placement will be subject to regulatory approvals. The directors of the company may participate in the additional tranches of this placement and commissions and/or finders' fees may be paid.

About Sniper Resources Ltd.

Sniper Resources Ltd. is engaged in the identification, acquisition and exploration of gold properties with a primary focus in the State of Nevada, USA. Sniper owns a 100% interest in the Laura property and holds options to earn a controlling interest in two additional strategically located gold projects, the Overland Pass and Weepah properties, all in Nevada.

For further information about Sniper Resources and its Nevada projects please contact Mr. Scott Baxter, President and CEO at [phone] or via email [e-mail].

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Please visit the Sniper Resources Ltd. website at www.sniperresources.com