Press Release

Sprott Resource Corp. announces the launch of One Earth Resources Corp.

        /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN      THE UNITED STATES/        - MR. BLAINE FAVEL TO BE APPOINTED PRESIDENT AND CEO -        TORONTO, April 28 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC")  announces today the launch of One Earth Resources Corp. ("One Earth  Resources"), a wholly-owned subsidiary of SRC, as a specialized vehicle to  invest in resource opportunities in the Canadian Aboriginal community. In  addition, SRC announces that Mr. Blaine Favel will join as President and CEO  of One Earth Resources.      "Mr. Favel's experience, energy, and commitment to the advancement of the  Canadian Aboriginal community will enable One Earth Resources to uniquely  develop relationships and opportunities which will be beneficial to the  Aboriginal community and to our shareholders," said Kevin Bambrough, President  and CEO of Sprott Resource Corp.      The strategy of One Earth Resources is to partner with Canadian  Aboriginal communities to explore and develop their lands and traditional  territories for a broad spectrum of metals, minerals and other natural  resources. In pursuing these opportunities, One Earth Resources will work with  its Aboriginal partners to ensure that these resources are developed in a  holistic manner, which facilitates benefits for the communities in the areas  of training, contracting opportunities and mutually sharing in the wealth of  their natural resources.      Mr. Blaine Favel brings to One Earth Resources 18 years of experience in  First Nations business development as an advisor, entrepreneur and Chief. Mr.  Favel is a former Grand Chief of the Federation of Saskatchewan Indian Nations  where he pioneered two national firsts with the establishment of the First  Nations Bank of Canada and the Saskatchewan Indian Gaming Authority. In his  professional capacity, Mr. Favel has worked with the law firm of Bennett Jones  and was an Investment Banker with RBC Capital Markets Energy group. Mr. Favel  is a Board Member of the Calgary United Way, and of the Calgary Committee to  End Homelessness. Mr. Favel has an LLB from Queens University and an MBA from  Harvard Business School.        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, including without limitation,  risks associated with mineral exploration projects. 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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