Sprott Resource Holdings Press Releases

Press Release

Sprott Resource Corp. announces current holdings of gold and silver bullion

        TORONTO, Dec. 15 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC")  announced today that it has acquired during this quarter 40,475 ounces of gold  bullion and 852,478 ounces of silver bullion. The balance of SRC's working  capital is in short-term government of Canada treasury bills.      "We intend to continue to look for attractive investment opportunities to  allocate our capital while working on building accretive businesses," said  Kevin Bambrough, President and CEO of SRC. "In the interim, we feel it is  prudent to allocate a portion of our working capital into gold and silver  bullion. We may allocate a larger portion into gold and silver, or other  physical commodities, in the future depending on market conditions."      Kevin Bambrough continued: "Current yields on short-term government debt  are approaching, and in certain cases have reached, zero percent. This is  occurring while governments are assuming liabilities and issuing debt at an  unprecedented rate. We believe this situation is not sustainable over the  longer-term and that global creditors will begin to hoard hard assets, in  particular gold and silver, rather than purchase government debt that offers  little nominal yield and is subject to a loss in real value as currencies are  debased."        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 contained herein may constitute "forward-looking  statements" under applicable securities laws. Some of the forward-looking  statements may be identified by words such as "intends", "expects",  "anticipates", "should", "believes", "plans", and similar expressions. These  statements are based on current estimates, factors and assumptions, including  expectations regarding the SRC's future strategy and business and the  execution of its existing plans. These statements involve known and unknown  risk. No assurance can be given that any events anticipated by the  forward-looking statements will occur. Actual results and future events could  differ materially from those expressed in, or implied by, the forward-looking  statements. As a result, readers are cautioned not to place undue reliance on  these forward-looking statements. These forward-looking statements 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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