Sniper Resources : Buys Out 100% OF Weepah Gold Pproperty

Vancouver, British Columbia, July 2, 2014 - Scott Baxter, President and CEO of Sniper Resources Ltd. (TSX-V: SIP) ("Sniper" or the "Company") is pleased to announce:

Acquisition of Weepah Gold Property, Nevada

Sniper has reached an agreement (the "Agreement") with Columbus Gold (US) Corporation ("Columbus") to acquire a 100% interest in the Weepah gold property ("Weepah") in Esmeralda County, Nevada. Weepah was previously held under an option agreement.

Pursuant to the Agreement Sniper will purchase the 100% interest as follows:

a) upon TSX approval of the Agreement Sniper will issue to Columbus 7,647,503 shares which, when added to Sniper shares already held by Columbus, will total 12,785,503 shares (19.99% of Sniper's then issued capital) to acquire an initial 50.01% beneficial interest in Weepah, and

b) on July 1, 2017 Sniper will issue to Columbus additional shares which, when added to 12,785,503, will be a sum to equal 19.99% of the then issued capital to acquire the final 49.99% beneficial interest in Weepah.

Columbus will retain a 1% Net Smelter Return royalty ("NSR") which may be purchased for US$1,500,000. Additionally Sniper must comply with certain terms of an underlying agreement with Cordilleran Exploration Company ("Cordex") including a 2% NSR and a US$10,000 per annum advance royalty commencing July 1, 2016.

The Agreement is subject to completion of all formal documentation, approval of Cordex and acceptance by the TSX Venture Exchange. All shares to be issued will be subject to a four-month hold period from the date of issue.

Overland Pass Mineral Claims Relinquished

Sniper has voluntarily relinquished the 84 mineral claims Overland Pass property located in White Pine County, Nevada. The Company will take a write-down of $1,398,833 to its exploration and evaluation assets.

Debt Settlement

Sniper has arranged a shares-for-debt settlement with one arm's length creditor. A total of 1,271,233 shares will be issued at a price of $0.05 per share to settle $63,561.67 of debt.  The shares are subject to a four month hold period from the date of issuance. The debt settlement is subject to regulatory approval.

Commentary

"The Weepah purchase is the last major step in restructuring Sniper's business affairs" said Sniper President Scott Baxter. "Sniper will take clear title to 100% of Weepah without any contingent financial obligations which could bring the title into risk in the future. Sniper is relinquishing the Overland Pass option and will focus its resources on exploring Weepah. Additionally we have settled a Sniper's only significant arm's length debt with stock to preserve cash for Weepah. Management's opinion is that continued exploration of Weepah holds the clearest and least risky way to improved shareholder value and with title now secure I look forward to moving the project forward as soon as possible."

About Sniper Resources Ltd.

Sniper Resources Ltd. is engaged in the identification, acquisition and exploration of gold properties in the State of Nevada, USA.  Sniper owns a 100% interest in the Laura exploration property and is acquiring at 100% interest in the Weepah property, 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