Sniper Resources Ltd : Private Placement Update – Tranche #1 Filed for Approval; ReHot Mineral Claims Relinquished

Vancouver, British Columbia, September 5, 2013 - Scott Baxter, President and CEO of Sniper Resources Ltd. (TSX-V: SIP) ("Sniper" or the "Company") announces:

Private Placement - First Tranche

Further to Sniper's news release of June 14, 2013, the Company is filing for approval with the TSX Venture Exchange the first tranche of its non-brokered private placement. The first tranche of 1,770,000 units at $0.05 per unit will net to treasury $88,500 and is to five placees.

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 during the first two (2) years and at an exercise price of $0.25 per Warrant Share for the subsequent three (3) years.

The placement is subject to regulatory approval.

ReHot Mineral Claims Relinquished

Sniper has allowed the 16 claim ReHot prospect located in the Hot Springs Range of Humboldt County, Nevada to lapse. The Company will take a write-down of $21,848 to its exploration and evaluation assets reducing the value of those assets by approximately 1% to $2,273,112.

Commentary

"Management is pleased that despite continued depressed conditions for financing within the junior resource markets we have successfully secured the first tranche of financing for our private placement" said Sniper President and CEO Scott Baxter. "That said, management continues to monitor closely the state of the financial markets, especially as they impact the junior resource sector, and continues to strictly manage all corporate expenses. Management recently successfully concluded an amendment to its Weepah Property option agreement securing an extension of time to conduct exploration programs on the Weepah Property which, together with a prior extension to the exploration programs' deadlines for the Overland Pass Property, allows the Company abundant time to finance and conduct the required programs on both of its primary properties. Management reviewed and evaluated all of its exploration holdings in light of these extensions and concluded that for the foreseeable future all available exploration funding would be allocated to the Weepah, Overland Pass and Laura properties, and that continuing to fund the carrying costs to maintain the ReHot claims, although small, was not prudent given that no exploration budgets would be allocated to that property. The relinquishment of the ReHot claims will not materially alter the Company's future exploration prospects, and the 1% ($21,848) write down of the value of Sniper's exploration assets from $2,294,960 to $2,273,112 will not materially alter the value of the Company's assets."

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 and ReHot properties 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].

To subscribe to Sniper's newsletter, The Sniper News, email us at [e-mail]

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

Sniper Resources Ltd. "Scott Baxter" Scott Baxter President and CEO

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.