News Release (NR 04-17) - November 3, 2004

SNOWFIELD EXPANDS SIZE OF KIMBERLITE ON TICHO PROJECT - PHASE II DRILL PROGRAM

     Snowfield Development Corp (TSX: SNO) has completed a further two holes in the Phase II drilling program on the Ticho Diamond Project and is pleased to announce that kimberlite was intersected in both holes. The Ticho Diamond Project area is located approx 5kms southeast of Drybones Bay, NWT. The Company can earn an 80% interest in the property under an option agreement with prospector David Smith, of Yellowknife, NWT.

     The second hole of the Phase II drilling program (Mud-10) was drilled to a depth of 106.7 meters. Kimberlite was intersected from 17.07 to 18.29 meters and from 22.40 to 24.38 meters. Kimberlite seams were also observed intruding into a mafic sill between these intersection points.

      The third hole of the Phase II drilling program (Mud-11) was drilled to a depth of 76.5 meters. Kimberlite was intersected from 44.04 to 48.31 meters and from 49.22 to 51.05 meters. A third Kimberlite intersection was also observed from 56.74 to 57.76 meters. No change in the nature of the kimberlite was noted in either Mud-10 or Mud-11 and is described as "carbonatized macrocrystal serpentine calcite kimberlite".

     The kimberlite intersected in Mud-11 appears to be part of the dipping body that was intersected previously in Snow-5 and Snow-7 (both holes drilled during 2003). The intersection points in these three holes (Mud-11, Snow-5 and Snow-7) now define a body that appears to be dipping to the west

     Thickness of kimberlite intersected in these three holes is as follows:

     This implies the kimberlite body sub-crops under the glacial till to the east of the current drill location at Mud-11. A northerly strike is indicated and further drilling should confirm these conclusions, accurately locate the sub-crop position and the northerly extension of the kimberlite.

     Proper location of the sub-crop and its strike will enable Snowfield to plan for the proposed 500 tonne bulk sample to test for the presence of diamonds within the Mud Lake kimberlite.

     Drilling to date has not established the physical size and shape of the kimberlite body. It is anticipated that the ongoing Phase II drilling program will more clearly define the size of the Mud Lake kimberlite.

     A ground penetrating radar (GPR) survey carried out at Mud Lake during 2003 identified a strong dipping reflector located slightly below the bottom of the vertical borehole Snow-6. Snow-6 was drilled to a depth of 44.82 meters (drilled prior to the GPR survey) and failed to intersect this reflector. It is estimated this reflector is located at depth of 50 meters. It is proposed this reflector represents the top or edge of a kimberlite body. The current Phase II drill program will test this target.

     Since receiving a five year Class "A" Land Use Permit from the MacKenzie Valley Land & Water Board on September 1, 2004, (NR 04-13), Snowfield has completed construction of a 20 person fully winterized five building camp at Pebble Beach on Great Slave Lake. This camp will support and accommodate Ticho Project exploration personnel. On October 10, 2004 Snowfield was able to barge a second diamond drill (Longyear 38), substantial fuel, camp supplies, bulk sample bagging racks and a John Deere bulldozer to the Pebble Beach camp site. The Company purchased the bulldozer to support its long term drilling and bulk sampling operations. Snowfield is negotiating the purchase of a John Deere tracked excavator for bulk sampling and trenching work.

     Upon suitable "freeze-up" conditions, anticipated for mid-November, the Longyear 38 drill will be mobilized 1 km to the Mud Lake property. This drill will assist in completing the 20-hole delineation drill program currently underway. Subsequently, a 500 tonne bulk sample of the kimberlite will be excavated. This bulk sample will test for the presence of diamonds in the hopes to establish a preliminary diamond grade for the kimberlite.

     Upon completion of the delineation drilling at Mud Lake, drilling will move to test the geochemical targets identified by Snowfield at Aspen Lake and Pond Lake. These two targets are located approximately 1.5 kms northeast of Mud Lake. (See NR-04-08 dated: 8th June 2004).

     Snowfield has retained Aurora Geosciences Ltd to provide consulting services and independent project overview. Aurora Geosciences Ltd will provide the services of Gary Vivian P.Geol and Jim Robinson P.Geol.

     Gary Vivian P.Geol and Jim Robinson P.Geol are qualified persons under NI 43-101. Gary Vivian P.Geol has reviewed and approved the content of this press release.

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.