Sprott Capital Fund L.P. named Fund of the Year at 2010 AR Awards

TORONTO, Nov. 24 /CNW/ - Sprott Asset Management LP ("Sprott Asset Management") is pleased to announce that the Sprott Capital Fund L.P. was named "Fund of the Year" at the 2010 AR Awards on November 18, 2010. The AR Awards are one of the hedge fund industry's most prestigious awards celebrations presented by Hedge Fund Intelligence, one of the leading hedge fund publications in the United States and Europe. The Awards, held at the Mandarin Oriental hotel in New York, recognized multiple hedge fund strategies and disciplines that have achieved outsized returns. The Sprott Capital L.P. is a US onshore fund that is part of the broader Sprott Hedge Fund Strategy, which includes Sprott Hedge Fund L.P. I & II in Canada, and Sprott Offshore I & II, Ltd.

"We are very pleased to receive this prestigious award recognizing the exceptional performance generated by Eric Sprott and the management team of the Sprott Hedge Fund Strategy," said James Fox, President of Sprott Asset Management. "To be chosen as the Fund of the Year from a group that included many of the biggest names in the hedge fund industry is an honour and an accomplishment for which we are extremely proud." As of October 31, 2010, the Sprott Capital L.P. has compounded an annualized net return of 23.0% since its inception in January 2002.

About Sprott Asset Management LP

Sprott Asset Management LP is one of Canada's premier investment firms. Founded in 2000, the Firm is widely acknowledged for its investment acumen and dedication to generating consistent long-term returns for its investors. The company boasts a unique collection of award-winning portfolio managers who are all experts in their respective investment styles. The SAM investment team currently manages eight mutual funds and four hedge fund strategies, with each manager leading their own respective strategy and mandate. The common shares of Sprott Asset Management's parent company, Sprott Inc., are listed on the Toronto Stock Exchange under the symbol "SII".

For more information on Sprott Asset Management, please visit www.sprott.com.

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