TORONTO, Jan. 4, 2012 /CNW/ - Sprott Resource Corp. (TSX: SCP) - Sprott
Resource Corp. ("SRC") today announced that it has invested $6.9
million in Potash Ridge Corporation ("Potash Ridge" or the "Company")
in a series of non-brokered private placements completed by Potash
Ridge. As a result of its investment, SRC owns approximately 19.9% of
Potash Ridge is a private mineral resource company focused on its two
100% owned alunite deposits in Utah named Blawn Mountain and Pine
Valley. Alunite is a mineral from which sulphate-of-potash (a
high-grade potash), alumina and sulphuric acid can be extracted. The
Company is currently undertaking an extensive drilling program with
funds raised from financings completed to date.
About Sprott Resource Corp.
SRC is a Canadian-based company, the primary purpose of which is to
invest and operate in natural resources. Through acquisitions, joint
ventures and other investments, SRC seeks to provide its shareholders
with exposure to the natural resource sector for the purposes of
capital appreciation and real wealth preservation. SRC is well
positioned to draw upon the considerable experience and expertise of
both its Board of Directors and Sprott Consulting Limited Partnership
(SCLP), of which Sprott Inc. is the sole limited partner. Pursuant to
a management services agreement between SCLP and SRC, SCLP provides
day-to-day business management for SRC as well as other management and
administrative services. SRC invests and operates through Sprott
Resource Partnership (SRP), a partnership between SRC and Sprott
Resource Consulting Limited Partnership, an affiliate of SCLP which is
the managing partner of SRP.
SOURCE Sprott Resource Corp.
For further information:
Chief Financial Officer
Sprott Resource Corp.
200 Bay Street, Suite 2750
Tel: (416) 977-7333
Fax: (416) 977-9555