Press Release

Sprott Inc. closes initial public offering

        /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE      UNITED STATES/        TORONTO, May 15 /CNW/ - Sprott Inc. (the "Company") is pleased to  announce that it has completed its previously announced initial public  offering by way of a secondary offering of common shares. Pursuant to the  offering, certain shareholders of Sprott Inc. sold 20,000,000 common shares at  an offering price of $10.00 per share for aggregate proceeds of $200 million.  In addition, certain of the selling shareholders have granted an  over-allotment option to the underwriters to purchase up to an additional  3,000,000 common shares at the offering price, such option to expire on June  14, 2008.      The underwriting syndicate for the offering was co-led by Cormark  Securities Inc. and TD Securities Inc. and included CIBC World Markets Inc.,  RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., GMP  Securities L.P., Canaccord Capital Corporation, National Bank Financial Inc.,  Jennings Capital Inc., Paradigm Capital Inc. and Clarus Securities Inc.      The Company's common shares are listed on the Toronto Stock Exchange  under the symbol "SII".      Immediately prior to the closing of the offering, the Company acquired  100% of the outstanding shares of Sprott Asset Management Inc. ("SAM"). SAM is  a leading independent asset manager with approximately $6.8 billion in assets  under management. SAM is the manager of the Sprott Funds.