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Press Release

Sprott Resource Corp. announces listing of warrants

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN      THE UNITED STATES/TORONTO, Nov. 26 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC")  announced today that it has received final approval to list on TSX a total of  16,585,784 common share purchase warrants (the "Warrants"). Each Warrant  entitles the holder to purchase one common share of SRC at a price of $4.25 at  any time until 4:30 pm (Toronto time) on December 31, 2010, subject to an  accelerated expiry period if, at any time, the closing trading price of the  common shares of SRC are equal to or greater than $6.00 for 20 consecutive  trading days. The Warrants will be listed and posted for trading on TSX at the  opening on November 27, 2008 under the symbol SCP.WT.      The Warrants were issued between June 24, 2008 and July 7, 2008 to  encourage the early exercise of share purchase warrants that were exercisable  at $2.50. The Warrants are governed by the terms of a warrant indenture (the  "Warrant Indenture") between SRC and CIBC Mellon Trust Company, as warrant  agent. A copy of the Warrant Indenture is available on SEDAR (www.sedar.com).      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.          

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