Press Release

Sprott Energy Opportunities Trust Files Final Prospectus

TORONTO – Sprott Asset Management LP ("Sprott") is pleased to announce that Sprott Energy Opportunities Trust (the "Trust") has filed a final prospectus in connection with its offering of trust units (the "Units"). A receipt for the final prospectus has been issued by the securities regulatory authorities in each of the provinces and territories of Canada. The Units are being offered at a price per Unit of $10.00 with a minimum subscription of 100 Units ($1,000). The Toronto Stock Exchange has conditionally approved the listing of the Units under the symbol "NRGY.UN". Closing of the offering is expected to occur on or about December 20, 2016.

Prospective purchasers may purchase Units either by: (i) cash payment; or (ii) an exchange (the "Exchange Option") of freely tradeable securities of one or more of those issuers set forth in the final prospectus.

Exchange Option Extension
As previously announced, the Trust has extended the deadline for the deposit of exchange eligible securities with respect to the offering.

Prospective purchasers investing in the Trust under the Exchange Option are now permitted to deposit their exchange eligible securities prior to 5:00 p.m. (Toronto time) on December 7, 2016 in the manner described in the final prospectus. Such deposits must be made in the form of a book-entry deposit with TSX Trust Company, the Trust's agent for the Exchange Option, through CDS Clearing and Depository Services Inc. ("CDS"). Investment dealers, who will make these deposits through CDS, may have an earlier deadline for receiving instructions from investment advisors to deposit securities under the Exchange Option. The pricing period for the Exchange Option (the "Pricing Period") has also been revised and will be the period of five consecutive trading days ending on and including December 12, 2016. The Trust will issue a press release as soon as possible after the end of the Pricing Period announcing for each of the exchange eligible securities, among other things, the exchange ratio.

Investment Objective of the Trust
The investment objective of the Trust is to achieve long-term capital growth. The Trust has been created to invest in an actively managed portfolio (the "Portfolio") comprised primarily of equity and equity-related securities of companies that are involved directly or indirectly in the exploration, development, production and distribution of oil, gas, coal, or uranium and other related activities in the energy and resource sector.

Unique, Investor Friendly Structure
Sprott will pay certain of the fees of the offering. As a result, the net asset value per Unit immediately following the closing of the offering will be $9.875 less the expenses of the offering. In addition, Sprott currently intends that on or about October 17, 2018, the Trust will, subject to applicable law, which may require unitholder and/or regulatory approval, convert into an exchange traded mutual fund managed by Sprott or an affiliate (the "Converted Fund"). It is Sprott's intention that the Converted Fund will have a similar investment objective and investment strategy to that of the Trust. Enhanced liquidity and market support for the Units will also be provided through the Trust's market purchase program. Sprott will act as manager and portfolio manager of the Trust. Portfolio manager Eric Nuttall will manage the Portfolio and will be supported by Sprott's broader team of experienced investment professionals.

Agents
The offering is being conducted by a syndicate of agents led by RBC Capital Markets, CIBC and TD Securities Inc. and including BMO Capital Markets, National Bank Financial Inc., Scotiabank, GMP Securities L.P. Manulife Securities Incorporated, Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Industrial Alliance Securities Inc. and Sprott Private Wealth LP.

This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any of the above-mentioned agents. Investors should read the prospectus before making an investment decision.

The Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States or in reliance on an exemption from such registration requirements. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the securities set out herein in the United States.

About Sprott Asset Management LP
Sprott Asset Management LP is a leading independent asset management company headquartered in Toronto, Canada. The company manages the Sprott family of mutual funds, hedge funds, physical bullion funds and specialty products and is dedicated to achieving superior returns for its investors over the long term. The company also manages discretionary managed accounts. Please visit us at www.sprott.com to learn more about our investment professionals and their market insights.

For more information on Sprott, please visit www.sprott.com or inquiries regarding the offering, please contact us at (416) 943-6707 or (866) 299-9906 or invest@sprott.com.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expects", "intends", "anticipates", "will" and similar expressions to the extent that they relate to the Trust. The forward-looking statements are not historical facts but reflect Sprott's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sprott believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Trust nor Sprott undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

You are now leaving Sprott.com and entering a linked website. Sprott has partnered with ALPS in offering ETF products. For fact sheets, marketing materials, prospectuses, performance, expense information and other details about the ETFs, you will be directed to the ALPS/Sprott website at www.SprottETFs.com

An investor should consider investment objectives, risks, charges and expenses carefully before investing. The prospectuses contain this and other important information. For more information about the ETFs or to obtain a prospectus, call 1.855.215.1425. Read the prospectuses carefully before investing. The ETFs are distributed by ALPS Distributors, Inc. ALPS Advisors, Inc. is the investment adviser to the ETFs and Sprott Asset Management LP is the investment sub-adviser. Sprott is not affiliated with ALPS.

Continue to Sprott Exchange Traded Funds