Sprott Molybdenum Participation Corporation Announces Intention to Distribute Substantially All Assets



    
    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/
    

    TORONTO, Jan. 9 /CNW/ - (TSX: MLY, MLY.WT) - Further to its press release
of December 10, 2008, Sprott Molybdenum Participation Corporation (the
"Corporation") announces that, in view of the unfavourable outlook for the
price of molybdenum and for issuers involved in the production and sale of
molybdenum, its board of directors has determined that a distribution to
shareholders of all or substantially all of the assets of the Corporation
would be in the best interests of the Corporation and its shareholders at this
time. The details on timing and specific execution steps are currently under
consideration and will be announced at a future date.
    Net asset value of the Corporation on January 7, 2009 was $1.75 per share
of which $1.51 per share was held in cash and short term securities, net of
liabilities. At this point, the Corporation does not expect to make any
additional portfolio investments or purchases of molybdenum and plans to
liquidate its existing portfolio investments in an orderly manner, subject to
market conditions.

    
    About Sprott Molybdenum Participation Corporation
    -------------------------------------------------
    

    The Corporation is an investment holding company created with the goal of
achieving capital appreciation by investing in securities of private and
public companies that explore for, mine and/or process molybdenum and by
investing in, holding, selling and otherwise transacting in all commercial
forms of molybdenum.





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For further information: please contact Investor Services at
1-888-362-7172.

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SPROTT MOLYBDENUM PARTICIPATION CORP.

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