Press Release

Sprott Asset Management Inc. Announces Retirement of Senior Portfolio Manager

        TORONTO, May 25 /CNW/ - Sprott Asset Management Inc. ("SAM") announced  today that senior portfolio manager, Jean-Francois Tardif, has expressed his  intention to retire, effective July 7, 2009. Mr. Tardif currently leads the  investment management team for the Sprott Opportunities Hedge Fund L.P., the  Sprott Opportunities Offshore Fund Ltd., Sprott Opportunities Capital Fund,  L.P. and the Sprott Opportunities RSP Fund (collectively, the "Funds"). To  ensure a smooth transition of his duties and responsibilities, Mr. Tardif will  remain with SAM until July 7, 2009.      Charles Oliver and Jamie Horvat, who are currently members of SAM's  investment management team, will lead the team as senior portfolio managers of  the Funds and will continue to be supported by the existing analyst team for  the Funds. Messrs. Oliver and Horvat are also on the investment management  team for Sprott All Cap Fund, Sprott Global Equity Fund and Sprott Gold and  Precious Minerals Fund. Prior to joining SAM on January 31, 2008, Messrs.  Oliver and Horvat were co-managers of a number of AGF mutual funds overseeing  in excess of $4 billion of assets under management. Eric Sprott continues to  head up SAM's investment management team for all of the Sprott funds.      There will be no change to the fundamental investment objectives or the  investment strategies of any of the Funds as disclosed in the offering  documents of those Funds.      SAM extends its best wishes to Mr. Tardif and his family and sincerely  thanks Mr. Tardif for his valuable contribution to SAM over the past eight  years.      SAM will be hosting a webcast with Jean-Francois Tardif, Charles Oliver  and Jamie Horvat at 10:00 a.m. (Toronto time) on Friday May 29, 2009.  Additional information and registration will be available through  www.sprott.com commencing on Wednesday, May 27, 2009. For further information,  please contact your financial advisor directly or contact our Sales and Client  Relations Department at (416) 943-6707 or toll-free at 1-866-299-9906.        ----------------------------        Sprott Asset Management Inc. (www.sprott.com), together with its  affiliates and related entities, provides management and investment advisory  services to many entities, including the Sprott Mutual Funds, the Sprott Hedge  Funds, the Sprott Offshore Funds, the Sprott discretionary managed accounts,   and management of certain public companies, such as Sprott Resource Corp.          

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