Sprott 2010 Flow-Through Limited Partnership Announces Filing of Final
Prospectus for Initial Public Offering

TORONTO, Feb. 2 /CNW/ - Sprott 2010 Corporation is pleased to announce that Sprott 2010 Flow-Through Limited Partnership (the "Partnership") has filed a final prospectus in connection with its initial public offering of limited partnership units. The price per unit is $25.00 and the offering will be capped at $100 million. The initial closing of the offering is expected on or about February 18, 2010, with subsequent closings expected to be completed prior to the end of March, 2010.

The Partnership's investment objective is to provide for a tax-assisted investment in a diversified portfolio of flow-through shares and other securities, if any, of resource issuers with a view to achieving capital appreciation and significant tax benefits for limited partners. The Partnership's portfolio is expected to consist primarily of securities of resource companies whose principal business will be: (i) primarily, oil and gas exploration, development, and/or production and certain energy production that may incur CRCE's, and (ii) to a lesser extent, mining exploration, development, and/or production. Sprott 2010 Corporation, the general partner of the Partnership, expects limited partners to receive tax deductions equal to 100% of the gross proceeds of the offering for the 2010 taxation year.

The Partnership has retained Sprott Asset Management LP ("SAM") to provide investment, management and administrative services to Sprott 2010 Corporation. Founded in 2000, SAM is one of Canada's premier investment firms and manages a selection of mutual funds and long/short equity hedge funds. The management team responsible for the execution of the Partnership's investment strategy is comprised of Allan Jacobs and Eric Nuttall. In addition to Mr. Jacobs and Mr. Nuttall, the Partnership will also benefit from the insights of SAM's team of award-winning investment managers, including Eric Sprott, John Embry and Charles Oliver.

The offering is being made through a syndicate of agents co-led by RBC Capital Markets and TD Securities Inc. and including CIBC World Markets Inc., BMO Capital Markets, National Bank Financial Inc., Dundee Securities Corporation, Scotia Capital Inc., Canaccord Financial Ltd., GMP Securities L.P., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Desjardins Securities Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc.

About Sprott Asset Management LP

Sprott Asset Management LP is one of Canada's premier investment firms. Founded in 2000, the Firm is widely acknowledged for its investment acumen and dedication to generating consistent long-term returns for its investors. The company boasts a unique collection of award-winning portfolio managers who are all experts in their respective investment styles. The SAM investment team currently manages eight mutual funds and three hedge fund strategies, with each manager leading their own respective strategy and mandate. The common shares of SAM's parent company, Sprott Inc., are listed on the Toronto Stock Exchange under the symbol "SII".

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 one of the dealers noted above. Investors should read the prospectus before making an investment decision.

SOURCE SPROTT 2010 FLOW-THROUGH LIMITED PARTNERSHIP

For further information: For further information: For more information on Sprott Asset Management LP, please visit www.sprott.com; Investor contact information: (416) 362-7172 or (866) 299-9906 or invest@sprott.com

Organization Profile

SPROTT 2010 FLOW-THROUGH LIMITED PARTNERSHIP

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