Sprott Asset Management Expands its Leading Suite of Precious Metals Funds with Launch of Two Industry Firsts - Sprott Silver Equities Class and Sprott Silver Bullion Class

TORONTO, Feb. 9, 2012 /CNW/ - Sprott Asset Management LP ("Sprott") is pleased to announce the upcoming launch of three new precious metals-related funds on February 28, 2012. Sprott Silver Equities Class is the first fund of its kind in Canada, while Sprott Silver Bullion Class is the first silver bullion fund to be offered within a mutual fund corporation structure. Sprott Gold Bullion Class is also being launched to provide investors with greater investment choice within Sprott Corporate Class Inc. ("Corporate Class"), a mutual fund corporation designed to provide greater tax-efficiency for investors. With the addition of these three funds, Corporate Class now offers eleven different share classes for investors to switch between without triggering an immediate taxable event.

"We are pleased to build on our leadership position in the precious metals category", said James Fox, President of Sprott. "With the launch of these new funds, we continue to demonstrate our commitment to developing innovative new products to help our clients achieve their investment objectives."

Sprott's bullion funds are a convenient, liquid and cost-effective way to hold physical gold and silver, while the Sprott Silver Equities Class invests primarily in mining companies that are focused on silver exploration and production. "We strongly believe that investors should have an allocation to precious metals in their portfolios," said Eric Sprott, Chief Investment Officer of Sprott.

About Sprott Asset Management LP

Sprott Asset Management LP, a wholly owned subsidiary of Sprott Inc., is an investment manager dedicated to achieving outstanding returns for its investors over the long-term. With a history dating back to 1981, Sprott has a team of leading investment professionals that think independently and have the courage to act on their convictions. Our clients include individual and high-net-worth investors, institutions and endowments. Please visit us at www.sprott.com to learn more about our award-winning investment professionals and their market insights.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual Funds are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors should consult their financial advisor to determine if these Funds may be sold in their jurisdiction.

For further information on Sprott Asset Management LP and Sprott Corporate Class Funds, please visit http://www.sprott.com/products/sprott-corporate-class-funds/ or call us at 866 299-9906 or email us at [email protected]