Sprott Asset Management LP Receives Unitholder Approval for the Merger of
Sprott Global Equity Fund into Sprott All Cap Fund

TORONTO, Nov. 29 /CNW/ - Sprott Asset Management LP ("Sprott") has received unitholder and regulatory approval to proceed with the proposed merger of Sprott Global Equity Fund into Sprott All Cap Fund. The merger is expected to be effective as of November 30, 2010.

As described in the announcement made on October 4, 2010, on the effective date of the merger, holders of units of each series of Sprott Global Equity Fund will receive units of the equivalent series of Sprott All Cap Fund, determined on a dollar-for-dollar basis. As soon as possible following the merger, Sprott Global Equity Fund will be wound up.

Unitholders will not be required to pay any redemption fees, sales charges or other fees associated with the termination of Sprott Global Equity Fund.  All costs associated with the termination of Sprott Global Equity Fund will be borne by Sprott.

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Sprott Asset Management LP (www.sprott.com), together with its affiliates and related entities, provides management and investment advisory services to many entities, including the Sprott Mutual Funds, the Sprott Hedge Funds, the Sprott Offshore Funds, the Sprott discretionary managed accounts, and management of certain companies, such as Sprott Resource Corp.

For further information:

on Sprott Asset Management LP, please visit www.sprott.com; Investor contact information: [phone] or [phone] or [email protected].