Press Release

Eric Sprott announces acquisition of Common Shares of Sprott Inc.

        TORONTO, May 15 /CNW/ - Eric Sprott, President and Chief Executive  Officer of Sprott Inc. ("Sprott") and Chairman, President and Chief Executive  Officer of Sprott Asset Management Inc. ("SAM"), acquired ownership of  102,141,270 common shares of Sprott ("Common Shares"), today. The Common  Shares acquired by Mr. Sprott represent approximately 68.09% of the  outstanding Common Shares.      Earlier today, Mr. Sprott acquired ownership of 117,131,373 Common Shares  in exchange for 4,258,657 common shares of SAM, a private company, pursuant to  a share exchange agreement entered into with SAM, Sprott and other  shareholders of SAM, as a result of which SAM became a wholly-owned subsidiary  of Sprott. Immediately thereafter, in connection with an initial public  offering by way of secondary offering of Common Shares through a prospectus of  Sprott dated May 8, 2008, Mr. Sprott sold 14,990,103 Common Shares, priced at  $10.00 per share, for net holdings of 102,141,270 Common Shares as set forth  above.      The Common Shares were acquired, without any joint actors, for investment  purposes and Mr. Sprott may increase or decrease his investment in Sprott  depending on market conditions or any other relevant factors.        Eric Sprott.      2700-200 Bay Street      Royal Bank Plaza      South Tower      Toronto, Ontario M5J 2J1