Corriente Master Fund, L.P. announces acquisition of common shares of Sprott Molybdenum Participation Corporation



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

    FORT WORTH, TX, Aug. 1 /CNW/ - Corriente Advisors L.L.C., the general
partner of Corriente Master Fund, L.P., announced today that in a series of
transactions commencing on July 19, 2007 and concluding on July 31, 2007,
Corriente Master Fund, L.P. acquired beneficial ownership of 1,683,400 common
shares (the "Shares") of Sprott Molybdenum Participation Corporation
("Sprott"). The Shares acquired in connection with the foregoing transactions
represent approximately 3.78% of the 44,488,312 issued and outstanding Shares
as at the date hereof.
    After giving effect to the acquisition of the Shares, Corriente Master
Fund, L.P. is the beneficial owner of 6,030,500 Shares, which represents
13.56% of the 44,488,312 Shares issued and outstanding as at the date hereof.
Corriente Advisors, L.L.C. is the general partner of Corriente Master Fund,
L.P. and, as such, has the power to exercise control and direction over the
securities of Sprott beneficially owned by Corriente Master Fund, L.P.
    The Shares were acquired through the facilities of the Toronto Stock
Exchange for investment purposes. Corriente Master Fund, L.P. and its joint
actors may, from time to time, acquire additional securities of Sprott,
dispose of some or all of the existing or additional securities they hold, or
may hold, or may continue to hold their current positions.
    Corriente Advisors L.L.C. will be filing a report (as contemplated by
National Instrument 62-103 - The Early Warning System and Related Takeover Bid
and Insider Reporting Issues) in connection with its acquisition of the
Shares. For further information, or to obtain a copy of such report, please
contact Mr. James Haddaway, the Chief Financial Officer of Corriente Advisors,
L.L.C. at 817-870-1560.

    Corriente Advisors, L.L.C.
    201 Main Street
    Suite 1800
    Fort Worth, TX 76102




For further information:

For further information: or to obtain a copy of such report, please
contact Mr. James Haddaway, the Chief Financial Officer of Corriente Advisors,
L.L.C. at (817) 870-1560.

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SPROTT MOLYBDENUM PARTICIPATION CORP.

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