CORPORATE UPDATE

Vancouver, British Columbia, November 3, 2010 - Sniper Resources Ltd. (the "Company") is pleased to provide the following corporate update.

The Company is engaged in the identification, acquisition and exploration of gold properties in the State of Nevada, USA. The Company's two principal projects, Guild and Overland Pass, are subject to option agreements with Columbus Gold (U.S.) Corporation. Each option agreement provides the Company, through its wholly owned subsidiary Sniper Resources (U.S.) Inc., the right to earn a 51% interest in each of the projects by incurring an aggregate of US$2,000,000 in exploration expenditures on each property by October 3, 2012. The Company can earn an additional 19% interest in each property by completing a positive feasibility study on each property.

Initial Public Offering
The Company completed its initial public offering on October 13, 2010. The Company issued 5,420,000 common shares at $0.25 per share to raise gross proceeds of $1,355,000. The agent under the offering received a cash commission equal to 7% of the gross proceeds and broker warrants equal to 10% of the number of shares issued under the offering. Each broker warrant is exercisable to purchase one common share at $0.25 per share until October 13, 2012.
The Company's common shares commenced trading on the TSX Venture Exchange on October 26, 2010 under the trading symbol "SIP".
Guild Property

The Company expects prompt re-approval by the Bureau of Land Management for a previously issued Notice of Operations comprising an initial drill program of 24 reverse circulation holes on the Company's Guild property. The Company has retained the services of Hackworth Drilling Inc. to conduct the drilling program which will commence as soon as the updated permitting is received. The Company hopes to begin the Guild drill program during the last quarter of 2010.

Surface sample gold values in Paleozoic rocks at the northern and southern ends of the Guild property are separated by a Tertiary volcanic-covered area that is believed to be thin and will be tested by the drill program. One or more major through-going structures are thought to be present there that may have served as feeders for the surface mineralization. The area of an additional western window through the volcanics into the Paleozoic rocks will also be tested in this program.
The results of gravity and CSAMT surveys conducted over the area for the Company by Zonge Geophysics were inconclusive as to bedrock depth but suggested that several high-angle structures may be present.

Overland Pass Property

Cultural and biological baseline studies have been conducted by Enviroscientists Inc. and a Plan of Operations is being prepared for a second-phase reverse circulation drill program of up to 25 holes at the Company's Overland Pass property. The Company will conduct the recommended work program discussed in its initial public offering prospectus (dated July 15, 2010) as soon as permitting is received. Overland Pass is adjacent to Barrick Gold's Bald Mountain Mine. Bald Mountain is currently the subject of a US$200 million capital mine expansion project that will add 10 years to the mine life.

An earlier 13 hole drill program conducted by the Company under a US Forest Service approved Plan of Operations at Overland Pass returned shallow, 60 feet at 0.007 opt gold and 55 feet at 0.015 opt (including 10 feet at 0.040 opt) gold intercepts from well-oxidized rock in holes OP-06 and OP-10 respectively. These gold grades are similar to those being profitably mined at many other Nevada heap leach properties, including Bald Mountain and Marigold. These holes were drilled at different azimuths and angles from a common site.

Assaying and geochemical analyses were performed on the drill cuttings by ALS Chemex. Subsequent float chip geochemistry (analyses by BSI-Inspectorate) suggests that the zone of mineralization may extend to the north and west.

Long intercepts of mostly weakly anomalous (> 10 ppb gold over 100 feet or more) mineralization were encountered in assays performed by ALS Chemex on two others of the Company's drill holes (OP-05 and OP-09). These holes were also drilled from a common site at different azimuths and angles and are located more than 1600 feet from holes OP-06 and OP-10.

Further details on the Company's Guild and Overland Pass projects are set forth in the Company's prospectus dated July 15, 2010 and in the technical reports referred to therein, all of which are available on the SEDAR website (www.sedar.com).

Doug McGibbon, the Vice-President, Exploration of the Company, is a "qualified person" under National Instrument 43-101, and will be in charge of the Company's exploration programs. Mr. McGibbon has reviewed and approved the scientific and technical information contained in this news release.

Sniper Resources Ltd.

"Scott Baxter"

Scott Baxter
Chief Executive Officer

For further information, contact:
Scott Baxter
Tel: (604) 263-5614
Toll free: 1-888-737-2454
E-mail: [email protected]
Company's website (www.sniperresources.com)



This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding timing of commencement of exploration programs on the Company's mineral projects and other future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include timeliness of government or regulatory approvals, market prices, availability of capital and financing, general economic, market or business conditions, regulatory changes, and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

SNIPER RESOURCES LTD.
3374 West 19th Avenue | Vancouver, British Columbia V6S 1C2
Telephone: (604) 263-5614 | Facsimile: (604) 263-8415