Snow Leopard Resources Inc. — Announcement

Business Wire, March 8, 2001

Business Editors

CALGARY, Alberta--(BUSINESS WIRE)--March 8, 2001

Snow Leopard Resources Inc. (TSE:SNWa.) is pleased to announce that the U.S. Patent and Trademark office has issued a Notice of Allowance for a patent covering the H2S Fuel Cell technology.

The Canadian and International patents are pending.

Snow Leopard announces that Ethyl Tech Inc. and the Gas Technology Institute ("GTI") have mutually agreed to suspend activity at GTI's Des Plaines, Illinois facility. Difficulties were encountered at GTI's facility in replicating the original results obtained at CANMET's Devon, Alberta facility, due to non-process related mechanical difficulties, primarily cell leakage and catalyst cracking caused by loss of moisture. These technical issues that prevented the Institute from reproducing and sustaining the highest current densities as were recorded in Alberta, have been identified.

In Management's opinion, further Research & Development of the H2S Fuel Cell is expected to commence shortly. Discussions are underway to reach an agreement for a suitable testing facility. Ethyl Tech's scientists have prepared the detailed testing program including a schedule and objectives. The testing program will be directed towards replicating the original results and to determine the parameters for increasing power density.

Snow Leopard is actively pursuing alternatives to accelerate commercial development.

The common shares of Snow Leopard are listed on the Toronto Stock Exchange under the trading symbol SNW.A.

For further information please visit our website at: www.snow-leopard.com