Sprott Resource Holdings Press Releases

Press Release

Sprott Resource Corp. announces acquisition of additional shares of Tournigan Energy Ltd.

        TORONTO, Nov. 18 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC")  acquired beneficial ownership of 12,918,750 common shares (the "Common  Shares") of Tournigan Energy Ltd. (TSXV:TVC), representing approximately  10.53% of the outstanding Common Shares, on November 11, 2008 through the  facilities of the Toronto Stock Exchange. These Common Shares are held through  SRC's discretionary managed account with Sprott Asset Management Inc. Sprott  Asset Management Inc. is the portfolio manager of the managed account and  exercises control and direction over the Common Shares.      With these newly acquired Common Shares, SRC beneficially holds  15,986,250 Common Shares or approximately 12.96% of the outstanding Common  Shares, all held in the managed account controlled and directed by Sprott  Asset Management Inc.. The Common Shares were acquired beneficially through  SRC's managed account for investment purposes. SRC, directly or through the  managed account, may acquire additional Common Shares depending on market  conditions and other relevant factors.        About Sprott Resource Corp.        SRC is a Canadian based company, the primary purpose of which is to  invest, directly and indirectly, in natural resources. Through acquisitions,  joint ventures and other investments, SRC seeks to provide its shareholders  with exposure to the natural resource sector for the purposes of capital  appreciation and real wealth preservation. SRC is well positioned to draw upon  the considerable experience and expertise of both its Board of Directors and  Sprott Consulting Limited Partnership (SCLP), of which Sprott Asset Management  Inc. is the sole limited partner. Pursuant to a management services agreement  between SCLP and SRC, SCLP provides day-to-day business management for SRC as  well as other management and administrative services.        Forward Looking Statements        Certain statements regarding SRC, including management's assessment of  future plans, may constitute forward-looking statements under applicable  securities laws and necessarily involve risk. SRC's actual results or  achievements could differ materially from those expressed in, or implied by,  the forward-looking statements. No assurance can be given that any events  anticipated by the forward-looking statements will occur. These  forward-looking statements, which are based on management's current  expectations, are made as at the date of this news release. SRC does not  undertake any obligation to publicly update or revise any of these  forward-looking statements, except as required by applicable securities laws.          

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