Snowfield Development Corp.: Exploration Update: Financial News

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 9, 2008 -- Snowfield Development Corp. ("Snowfield" or the "Company") (CDNX:SNO.V - News) today announces it has finished its Mud Lake Kimberlite delineation and sampling program and is preparing for an aggressive summer exploration program. The Ticho Diamond Project is located 50 km southeast of Yellowknife, NT and is comprised of 33,853 acres that are within 4 km of the Drybones Bay Kimberlite at their western extent.

The delineation drill program was undertaken to test the Mud Lake Kimberlite complex for spatial continuity and the potential for different diamond populations between the different sills identified from earlier drilling. A total of 38 holes were drilled, most on a grid pattern, intersecting the main upper and lower sill, with numerous stringers in many drill holes. The area extent of the sill complex has been increased from 350 x 300 m based on previous year's drilling to 700 x 300 m. Interpretation of drill intercepts is underway to determine the nature and orientation of the sills. Samples from each sill were submitted to the Saskatchewan Research Council Geoanalytical Laboratories accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as a testing laboratory for diamond analysis using caustic fusion. Results are expected in the month ahead. In addition, samples from both sills have been submitted for indicator mineral analysis, to assess the diamond potential of the Mud Lake Kimberlite complex.

The summer exploration program is focused on:

1) Discovering the source of a known indicator mineral dispersion in an area to the north of Mud Lake;

2) Identifying and testing new targets from the interpretation of the ongoing compilation of structural, geophysical and geochemical data.

Planned summer activities include: a detailed airborne magnetic survey; till sample collection both up ice of known geochemical dispersions and targeted down ice of geophysical anomalies, prospecting areas of interest and ground-truthing existing anomalies. A short drill program is planned for the late summer/fall, to drill test any targets generated from the summer program. The 2008 exploration program is under the supervision of consulting geologist Jennifer Burgess, P. Geol., a qualified person under NI 43-101 who has approved the technical content of this News Release (NR08-14).

On behalf of the Board of Directors,

Snowfield Development Corp.

Robert T. Paterson, President and Director

Shares Issued: 95,472,109

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents hereof.