John Embry is joinng Sprott Asset Management Inc. as its new president effective March 2003. Embry was lead portfolio manager of the Royal Precious Metals Fund and co-manager of the Royal Balanced Fund, Royal Canadian Equity Fund and Royal Global Resources Sector Fund.

Embry, an industry expert in precious metals, has researched the gold sector for over 30 years and has accumulated industry experience as a portfolio management specialist since 1963.

He will have full management authority over the Sprott Gold and Precious Minerals Fund and will play an instrumental role in corporate and investment policy of the firm.

Embry began his investment career at a major insurance company, Great West Life, as a stock selection analyst and portfolio manager. He then became vice president of pension investments for the entire firm. After 23 years with the company, he became partner with United Bond and Share, the investment counseling firm acquired by Royal Bank in 1987. He graduated from the University of Manitoba with a Bachelor of Commerce degree.

Going forward, Sprott hopes to take a leadership role in encouraging Canadians to increase their investment in the precious metals industry. Embry will lead this initiative.

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