Sprott Resource Corp. Names New Chief Financial Officer

TORONTO, Dec. 5, 2013 /CNW/ - Sprott Resource Corp. (TSX: SCP) ("SRC" or the "Company") today announced that it has named Michael Staresinic as the Company's new Chief Financial Officer, effective immediately. Mr. Staresinic will take over from Steve Yuzpe, who was named President and Chief Executive Officer of Sprott Resource Corp. in October 2013.

"Michael is an experienced financial professional with a broad base of experience in senior financial roles with publicly-listed companies. We are pleased to welcome him to our senior leadership team," said Steve Yuzpe, President and Chief Executive Officer of Sprott Resource Corp.

"The current resource markets offer compelling opportunities to deploy capital at attractive valuations," continued Mr. Yuzpe. "We expect to draw on Michael's strong mergers and acquisitions experience during what will be an active period of evaluating opportunities to make new investments or exit existing portfolio positions."

Mr. Staresinic has more than 12 years of experience in the financial services industry. Prior to joining Sprott Resource Corp., he was Vice President of Finance at Sprott Inc. where he was also a key member of the mergers and acquisitions team. Previously, Mr. Staresinic spent nine years as Vice President of Finance at a publicly-listed alternative asset management firm. Mr. Staresinic is a Chartered Professional Accountant, Chartered Accountant, CFA charterholder and a Chartered Alternative Investment Analyst. He holds an Honours Bachelor of Mathematics in Chartered Accountancy from the University of Waterloo.

About Sprott Resource Corp.

SRC is a Canadian-based company, the primary purpose of which is to invest and operate 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 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.  SRC invests and operates through Sprott Resource Partnership (SRP), a partnership between SRC and Sprott Resource Consulting Limited Partnership, an affiliate of SCLP which is the managing partner of SRP.

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.

SOURCE: Sprott Resource Corp.

Stephen Yuzpe
President & Chief Executive Officer
Sprott Resource Corp.
T: [phone]
E: [email protected]