CXO getting ready to drill SGG land!!!!VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 2, 2016) - SnipGold Corp. (TSX VENTURE:SGG) ("SnipGold" or the "Company") is pleased to provide an update on the upcoming KSP exploration program. Colorado Resources Ltd. ("Colorado") recently announced a planned 5,000 metre drill program on SnipGold's KSP Property, as part of Colorado's exploration expenditure commitments pursuant to an earn-in option signed in December 19, 2013 (the "Option Agreement"). Under the terms of the Option Agreement, Colorado's 2016 expenditure commitment is $2 million, which is the requirement in the third of a four-year term, whereby Colorado can earn a 51% interest in the KSP Property. The required expenditure in 2017 is $2.5 million. Colorado must also make cash payments totaling $275,000 to SnipGold in order to complete the vesting requirements. Colorado can further increase its ownership to 80% with an additional $4 million in expenditures by December 19, 2018. More information concerning the Option Agreement is available in SnipGold's most recent MD&A posted on the Company website. John Zbeetnoff, President and CEO of SnipGold comments, "We are pleased that Colorado is undertaking a significant exploration program on the KSP Property this year. Over the past two field seasons, Colorado has made considerable advancements in the geological understanding of the eastern half our Iskut holdings." Read more at https://www.stockhouse.com/news/press-releases/2016/03/02/snipgold-provides-an-update-on-the-2016-ksp-exploration-program#SmJjgfc7m60Uzum5.99 Read more at https://www.stockhouse.com/companies/bullboard/bullboard/v.cxo/colorado-resources-ltd#qs87YiIuA8fiVvek.99