Snowfield Development Corp. SWFCF

Snowfield arranges $150,000 financing; grants

[bobrobert]

Snowfield arranges $150,000 financing; grants options Snowfield Development Corp SNO Shares issued 16,464,421 Apr 25 2003 close $ 0.31 Friday April 25 2003 News Release Mr. Robert Paterson reports PRIVATE PLACEMENT Snowfield Development has arranged a non-brokered private placement of 600,000 units at a price of 25 cents per unit. Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will be exercisable for a period of one year and will entitle the holder to purchase one additional common share in the capital of Snowfield at 40 cents per share. The total proceeds of $150,000 from the sale of the units will be applied to general working capital, the payment of property option payments and undertaking programs of exploration on Snowfield's Drybones Bay properties in the Drybones Bay area of Great Slave Lake, NWT. Any moneys received by Snowfield from the exercise of warrants will be added to general working capital. The private placement will be closed when the documentation is accepted for filing by the TSX Venture Exchange. Additionally, the company has granted an employee incentive stock option in the amount of 150,000 common shares, exercisable at 24 cents per share for a period of two years, expiring April 25, 2005.