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On January 13, 2004, the Mackenzie Valley Environmental Impact Review Board ("MVEIRB") held a Public Hearing in Yellowknife, N.W.T. with respect to the Environmental Assessment of Snowfield Development Corp's. application to the Mackenzie Valley Land & Water Board ("MVL&WB") seeking a Class "A" Land Use Permit for a period of five years covering exploration activities on Snowfield's Ticho Diamond Exploration Project. The Ticho project, located approximately 50 km southeast of Yellowknife, N.W.T. near Drybones Bay, includes the Mud Lake kimberlite complex discovered by Snowfield in 2003. Snowfield expects the MVEIRB to announce its recommendations in the near future and looks forward to the MVEIRB recommending that the MVL&WB issue a Land use Permit with respect to the Ticho Project, as applied for by Snowfield.
Upon receipt of a Land Use Permit, Snowfield expects to commence exploration programs during March 2004, including drilling up to 20 diamond drill holes on the Mud Lake kimberlite. These drill holes are designed to further delineate the Mud Lake kimberlite discovery to enable Snowfield to conduct a mini-bulk sample of approximately 500 tonnes of the Mud Lake kimberlite. This sample will be taken from a number of different areas of the kimberlite complex and will be processed for the recovery of diamonds. This will give the Company a representative picture of the viability of the discovery. Previous analysis of core recovered from the Mud Lake structure confirms that the kimberlite intrusion has sampled the diamond stability field and contains garnets with chemical compositions that are known to be found as inclusions in diamonds.
Upon receipt of a Land Use Permit, Snowfield expects to commence exploration programs during March 2004, including drilling up to 20 diamond drill holes on the Mud Lake kimberlite. These drill holes are designed to further delineate the Mud Lake kimberlite discovery to enable Snowfield to conduct a mini-bulk sample of approximately 500 tonnes of the Mud Lake kimberlite. This sample will be taken from a number of different areas of the kimberlite complex and will be processed for the recovery of diamonds. This will give the Company a representative picture of the viability of the discovery. Previous analysis of core recovered from the Mud Lake structure confirms that the kimberlite intrusion has sampled the diamond stability field and contains garnets with chemical compositions that are known to be found as inclusions in diamonds.
ON BEHALF OF THE BOARD
"Robert T. Paterson"
President
SNOWFIELD DEVELOPMENT CORP.
THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS HEREOF.