SNL Options Properties-Proposes Private Placement.

LADNER, British Columbia -- SNL Enterprises Ltd. ("SNL") (TSX VENTURE:SNL) is pleased to announce the acquisition of the Copper Pendant property. SNL has entered into two option agreements to acquire a 50% interest in a total of 19 mineral tenures located in the Skeena Mining Division, in the Province of British Columbia, subject to a 2% net smelter return. Each of the option agreements requires the Corporation to pay $200,000 in cash on closing and issue 1,100,000 shares (at $1.00 per share) and to incur property expenditures totaling $1.2 million over two years ($400,000 in year one and $800,000 in year two). To fully exercise the options will require the Corporation to make total cash payments of $400,000, issue 2,200,000 shares and incur $2.4 million in property expenditures.

The northern and eastern parts of the property cover up to 4,000 metres of strike length of the regionally significant geological contact between prospective volcanic and sedimentary rocks of the Jurassic Salmon River Formation. This contact is the focus of 8 ore zones at the famous Hidden Creek mine, located 3 kilometres to the south, that produced over 21.7 million tonnes of ore grading 1.57% copper, 9.25 grams/tonne silver and 0.17 grams/tonne gold until 1935. This production figure is as documented in the BC Minfile database.

The western part of the Copper Pendant property forms a 21 kilometre long panhandle. This region has been under-explored to date due to relatively remote access, rugged topography and a poor understanding of the metamorphosed rocks that underlie the region. Government geoscientists now correlate parts of the western part of the Anyox pendant as metamorphosed equivalents of the prospective volcanic-sedimentary rocks to the east that host the past producing mines of the Anyox camp.

The above option agreement is subject to exchange approval.

The Corporation proposes to carry out a non-brokered private placement of up to 4,000,000 units, with 2,000,000 warrants. Financing will be through the issuance of up to 2,000,000 non-flow through units at a price of $1.00 per unit, each unit consisting of one common share and a half common share purchase warrant, and up to 2,000,000 flow-through units at a price of $1.10 per unit, each unit consisting of one flow-through common share and a half non-flow-through common share purchase warrant. Each full warrant will entitle the holder to purchase one additional non-flow-through common share at a price of $1.75 per share, with a term of one year. If fully subscribed, the Corporation will raise up to $2,200,000 in flow-through funds and up to $2,000,000 in non-flow-through funds, for a total of $4.2 million. The proceeds from this placement will be used to fund exploration expenditures, to pay the cash commitments under the options and for general working capital. This placement is subject to exchange approval. The Corporation may pay a finder's fee in cash and/or shares. There is no assurance that this proposed private placement will be completed either in whole or in part.

The closing of the newly optioned properties mentioned above is conditional on the Corporation substantially completing the above Private Placement.

The TSX Venture Exchange does not accept responsibility for the ad equacy or accuracy of the content of this release.

SNL Enterprises Ltd. (TSX VENTURE:SNL)