Press Release

Sprott Resource Corp. announces extension of voting period for warrant exercise program

        /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN      THE UNITED STATES/        TORONTO, June 16 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC")  announced today that it is extending the voting period for shareholders and  warrantholders in respect of its previously announced warrant incentive  program (the "Warrant Incentive Program") until June 23, 2008 (see May 13,  2008 press release for details on the Warrant Incentive Program). Proxies  tabulated to date indicate shareholders and warrantholders who have voted to  date are overwhelmingly in favour of the Warrant Incentive Program.      SRC has extended the voting period in respect of its Warrant Incentive  Program to encourage the early exercise of warrants issued in September of  2007, of which there were 39,920,000 outstanding as at May 15, 2008. The early  exercise of the outstanding warrants will provide capital to acquire  additional interests in natural resource properties and assets.SRC shareholders, warrantholders and brokers who have not voted          and require assistance should contact:          Kingsdale Shareholder Services Inc.          Toll-free 1-800-775-1986.A copy of the offering documents may be obtained from Kingsdale  Shareholder Services, the Information Agent for the offering. The Warrant  Incentive Program is subject to shareholder, warrantholder and regulatory  approval.      SRC will issue a press release and notify shareholders and warrantholders  when all requisite approvals have been obtained. In addition, SRC will deliver  instructions to warrantholders on exercising their warrants following the  approval of the Warrant Incentive Program.        This press release shall not constitute an offer to sell or the  solicitation of an offer to buy any securities, nor shall there be any sale of  the securities in any state or other jurisdiction in which such offer,  solicitation or sale would be unlawful.        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.        %SEDAR: 00003905E        

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