Sprott Resource Corp. announces extension of voting period for warrant exercise program


    TORONTO, June 16 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC")
announced today that it is extending the voting period for shareholders and
warrantholders in respect of its previously announced warrant incentive
program (the "Warrant Incentive Program") until June 23, 2008 (see May 13,
2008 press release for details on the Warrant Incentive Program). Proxies
tabulated to date indicate shareholders and warrantholders who have voted to
date are overwhelmingly in favour of the Warrant Incentive Program.
    SRC has extended the voting period in respect of its Warrant Incentive
Program to encourage the early exercise of warrants issued in September of
2007, of which there were 39,920,000 outstanding as at May 15, 2008. The early
exercise of the outstanding warrants will provide capital to acquire
additional interests in natural resource properties and assets.

        SRC shareholders, warrantholders and brokers who have not voted
        and require assistance should contact:
        Kingsdale Shareholder Services Inc.
        Toll-free 1-800-775-1986.

    A copy of the offering documents may be obtained from Kingsdale
Shareholder Services, the Information Agent for the offering. The Warrant
Incentive Program is subject to shareholder, warrantholder and regulatory
    SRC will issue a press release and notify shareholders and warrantholders
when all requisite approvals have been obtained. In addition, SRC will deliver
instructions to warrantholders on exercising their warrants following the
approval of the Warrant Incentive Program.

    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any sale of
the securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful.

    About Sprott Resource Corp.

    SRC is a Canadian based company, the primary purpose of which is to
invest, directly and indirectly, 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 Asset Management
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.

    Forward-Looking Statements

    Certain statements regarding SRC, including management's assessment of
future plans, may constitute forward-looking statements under applicable
securities laws and necessarily involve risk. SRC's actual results or
achievements could differ materially from those expressed in, or implied by,
the forward-looking statements. No assurance can be given that any events
anticipated by the forward-looking statements will occur. These
forward-looking statements, which are based on management's current
expectations, are made as at the date of this news release. SRC does not
undertake any obligation to publicly update or revise any of these
forward-looking statements, except as required by applicable securities laws.

    %SEDAR: 00003905E

For further information:

For further information: Kevin Bambrough, President and CEO, Tel: (416)
977-7333, Fax: (416) 977-9555

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Sprott Resource Corp.

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