Mr. John Zbeetnoff reports

SNIPGOLD CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Subject to TSX Venture Exchange approval, SnipGold Corp. has closed the first tranche of the financing announced on May 12, 2015, totalling 3.3 million non-flow-through units, for gross proceeds of $165,000.

Each non-flow-through unit is priced at five cents and consists of one non-flow-through common share and one non-transferable warrant of the company. Each warrant will entitle the holder to purchase one non-flow-through common share of the company at five cents per share for a period of 24 months from the closing of the first tranche.

All securities issued in connection with the financing will be subject to a four-month hold period, in accordance with applicable Canadian securities laws.

The flow-through and non-flow-through portions of the financing remain open to investors. The majority of the anticipated flow-through proceeds are intended for field and field-related activities, and the non-flow-through proceeds are expected to finance general corporate purposes.