Eric Sprott, CEO of Sprott Asset Management Inc. announced today that effective Jan. 3, 2006, the Sprott Canadian Equity Fund will be re-opened to subscriptions.

The decision to re-open the fund stems from continued extensive research and uncovering of new and exciting investment opportunities for the fund.

Sprott said it reserves the right to re-cap the fund in the future should the growth rate of net subscriptions exceed the pace of valued investment opportunities during what we believe to be a difficult and long-term secular bear market.

Upon opening, the fund will be available to all residents of Canada with an initial purchase minimum of $5,000, and subsequent minimum purchases of $500. The fund will also be available for pre-authorized chequing plans and have three Series of units available to investors.

Series A units (SPR 001) will be available to all investors. Series I units will be available to qualified and approved institutional investors. Series F units (SPR 100) will be available to investors who participate in fee based programs through their dealer and whose dealer has signed a Series F agreement with Sprott.

The primary objective of the fund is to outperform the broad Canadian equity market as measured by the S&P/TSX Composite Total Return Index over the long term of 5+ years, providing long-term capital appreciation and value for investors.

The decision to re-cap the fund on March 2, 2005, was made by the portfolio managers in an effort to maintain and maximize performance of the fund in order to achieve its objectives.