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Snowfield Development Corp. (Snowfield) and Consolidated Goldwin Ventures Inc. (Goldwin) are pleased to update further results from their ongoing drill program on the diamondiferous Mud Lake kimberlite sill located on the Drybones 4 claim (the "Ticho Project"). The Ticho Project is located approximately 55km southeast of Yellowknife, NWT. As previously announced, Goldwin is earning a 39.6% interest in the Drybones 4 claim from Snowfield. Upon completion of their earn in the ownership of the Drybones 4 claim will be Snowfield 40.4 %, Goldwin 39.6 %, and David Smith 20%.
The current drilling program, commenced April 11, 2006 to provide further delineation of the Mud Lake kimberlite complex has yielded the following unreported results from holes completed or underway:
o SNOW-33 (previously partially reported) - UTM (NAD 27) Zone 12V 0356548 East, 6889750 North -NQ core, -90 dip or vertical hole - Kimberlite intersected from 14.33 m to 19.70 m (5.07 m intersection) - Second Kimberlite intersection from 59.0 - 60.0m - end of hole at 81.38 m in granite.
o SNOW-34 - UTM (NAD 27) Zone 12V 0356548 East, 6889750 North -NQ core, -47dip, 230 true azimuth -first Kimberlite intersected from 27.9 to 35.0m (7.1m intersection - 5.2m true width) second Kimberlite intersection from 62.7 to 68.0m (5.3m intersection - 3.9m true width) - end of hole at 99.7m in granite.
o SNOW-35 - UTM (NAD 27) Zone 12V 0356508 East, 6889777 North - NQ core, -90 dip or vertical hole - Kimberlite intersected from 8.0 to 15.6m (7.6m intersection)- end of hole at 81.4m in granite.
o SNOW-36 - (same setup as Snow-35) UTM (NAD 27) Zone 12V 0356508 East, 6889777 North - NQ core, -47 dip, 230 true azimuth - Kimberlite intersected from 16.2 m to 20.3 m (4.1 m faulted intersection) - second Kimberlite intersection from 34.50 m to 34.70 m (0.2 m intersection) - third Kimberlite intersection from 49.50 m to - 50.60 m (1.1 m intersection) - end of hole at 72.24 m in granite.
It is noteworthy that hole Snow-34 intersected two significant intersections of macrocrystic, hyperabyssal Kimberlite, the intersections being 5.2 meters and 3.9 meters, in the same hole. These intersections are the first such intersections of significance for the stacked sills on the Drybones 4 claim. The Kimberlite intersected on Snow-35 is the shallowest yet encountered with the top of Kimberlite being at 8.0 meters depth. Initial Kimberlite core samples from the current drilling program are currently at the North West Territories CS Lord facility for thin section extraction and will be shipped this week to Kennecott Canada Exploration Inc. Mineral Processing Laboratory located at Thunder Bay, Ontario for caustic fusion processing and macro/micro-diamond recoveries.
ON BEHALF OF THE BOARD
"Robert T. Paterson"
President
SNOWFIELD DEVELOPMENT CORP.
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