Snitch gives you: Once per run, you may expose an unrezzed piece of ice when you approach it. You may then jack out.

So I will ask the question that is on everyones mind. Can you expose the first piece of ICE that you encounter? Do you go by what is on the card? Or does the timing of the exposed ICE go after the CORP can rez the piece of ICE?

Thanks.

Main rulebook, pg. 17, subcategory "Approaching Ice":

" The runner cannot jack out while approaching the first piece of ice during a run ."

However, prior to that, on pg. 5, is The Golden Rule :

" If the text of a card directly conflicts with the rules in this book, the card text takes precedence. "

Therefore, unless an FAQ contradicts this, I would conclude that the card grants permission to expose the first piece of ice, and if desired, to jack out.

Per your question regarding whether the ice can be rezzed before the runner's Snitch can expose it: in a nutshell, no, the corp may not. Snitch comes into effect during the APPROACH of an unrezzed piece of ice. The timing structure of a run (FAQ page 5) defines APPROACHES as the beginning of Step 2 (effectively, 2.0). The corp does not have the option to rez unrezzed ice until step 2.3.

Tophersinister said:

There is already an official ruling about Snitch:

If Corp stops the Snitch from exposing a piece of ice, Runner cannot jack out. Snitch uses the word "then" which means the previous effects must have resolved successfully. Runner can still jack out as normal if it is not the first piece of ice being encountered.
BGG Forum: http://www.boardgamegeek.com/article/11206192#11206192

Sportacus said:

So, if I'm understanding correctly, you are confirming the answer that yes, you can use this and jack-out on the first piece of ice in a server… unless the corp finds a way to prevent you from exposing said ice, which would force you to continue the run until your first jack-out opportunity.

stormwolf27 said:

Yes, exactly. Zaibatsu Loyalty, anyone?