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Snowfield Development Corp. (SNO TSX-V) ("Snowfield") ") has received confirmation that drilling commenced on January 29, 2006 at Snowfield's Ticho Diamond Project, located near Drybones Bay, Great Slave Lake, N.W.T., approximately 50 km south east of Yellowknife, N.W.T.
The initial target to be tested by the current drill programme is a geophysical and geochemical anomaly, identified as Aspen Lake, located 500 meters north of the northern edge of the Mud Lake kimberlite sill discovered by Snowfield in 2003(NR03-05). The Aspen Lake target was identified at the northeastern end of a rich kimberlite indicator mineral (KIM) train and a coincident geophysical anomaly under a generally circular body of shallow water.
Aspen is the first of a number of prospective targets to be tested for new kimberlites, including targets at nearby Sipper Lake and continued drilling on the Gten 16 Mineral Claim. The Gten 16 is currently the subject of an option agreement with Consolidated Goldwin Ventures Inc. (Goldwin), whereby Goldwin can earn up to a 49% interest from Snowfield (NR05-09). Further delineation of the Mud Lake Kimberlite which is currently open in three directions will also be undertaken.
The Mud Lake kimberlite is scheduled to be tested by a 500 tonne bulk sample to be taken in this current exploration programme. As previously announced (NR05-10) the 500 tonnes will be processed by De Beers Canada at their Grande Prairie, Alberta DMS plant at no cost to Snowfield and without any obligation from Snowfield.
Snowfield is presently awaiting results from a sample of drill cores, taken from a number of locations throughout the Mud Lake kimberlite and submitted to Kennecott Exploration Canada's Thunder Bay, Ont. mineral processing laboratory for caustic fusion analysis. This test will identify and quantify any micro and macro diamonds present in the core. The resulting micro and macro diamond data will assist in the analysis of the 500 tonne bulk sample results.
ON BEHALF OF THE BOARD
"Robert T. Paterson"
President
SNOWFIELD DEVELOPMENT CORP.
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