Mr. Robert Paterson reports

PRIVATE PLACEMENT AMENDMENT

On Sept. 28, 2012, Snowfield Development Corp. announced a non-brokered private placement offering of up to 2.5 million units at five cents and up to three million flow-through units at five cents. Each unit consisted of two common shares and one non-transferable share purchase warrant. Each flow-through unit consisted of two flow-through shares and one non-flow-through non-transferable share purchase warrant. All of the warrants were exercisable at 10 cents for two years. Finders' fees would be paid on a number of the private placement subscriptions per TSX Venture Exchange policy.

On Nov. 5, 2012, the company amended the private placement to cancel the flow-through component thereof. The private placement thereafter consisted solely of up to 2.5 million units at a price of five cents.

On Dec. 11, 2012, the company announced the extension of the private placement offering until the end of the calendar year, Dec. 31, 2012.

On Dec. 6, 2012, the company announced a private placement offering of up to four million flow-through units at five cents. Each flow-through unit consisted of one flow-through share and one non-flow-through non-transferable share purchase warrant exercisable for one year at 10 cents. The private placement was subject to approval from the exchange. No flow-through shares were subscribed for, and this private placement has been cancelled.

The company hereby announces that as per the exchange's temporary relief bulletin dated April 12, 2013, the private placement offering is hereby amended to a price of two cents per unit consisting of two shares at one cent per share and a share purchase warrant. The warrant will be exercisable at a price of two cents per share during the first year and 10 cents for the second year. This adjusted offering is subject to compliance with conditions as set out in the exchange bulletin, which includes demonstrating to the exchange that this company is subject to financial hardship and is subject to procedural matters.

On April 1, 2013, the company filed its third quarter report, consisting of Form 52-109 FV2 (certifications of interim filings, venture issuer basic certificate and unaudited financial statements) and Form 51-102 F1 (management's discussion and analysis), with the B.C. Securities Commission, the Alberta Securities Commission and the exchange and can be viewed under the company's name on the SEDAR website.