Press Release

Sprott Resource Corp. Announces 2015 Second Quarter Results

TORONTO, July 27, 2015 (GLOBE NEWSWIRE) -- Sprott Resource Corp. (TSX:SCP) ("SRC" or the "Company") today announced its financial results for the three-months ended June 30, 2015.

Summary

Net Asset Value ("NAV") at June 30, 2015 of $191.0 million ($1.95 per share) compared to December 31, 2014 of $227.7 million ($2.33 per share).
For the three-months ended June 30, 2015, the Company recorded a net loss of $10.4 million ($0.11 loss per basic and diluted share) compared to net loss of $1.0 million ($0.01 loss per basic and diluted share) for the three-months ended June 30, 2014. Included in the net loss for the three-months ended June 30, 2015 are unrealized losses on investments of $23.6 million offset partially by unrealized gains on investments of $14.8 million.

"Throughout the second quarter and into the third quarter of 2015, the natural resource sector has faced numerous headwinds," said Steve Yuzpe, CEO of SRC. "After seeing some signs of recovery, commodity prices have once again softened amid mounting concerns surrounding global growth rates, the oil glut created by OPEC's commitment to maintaining its current output targets, a resurgent U.S. dollar and the potential for Iran to re-enter the market. Together, these factors have had a negative impact on the value of our mining and energy-related investments."

"We continue to focus on narrowing the discount to NAV at which our shares are currently trading," added Mr. Yuzpe. "We are actively pursuing monetizations of some of our more mature investments to improve the Company's liquidity profile with the intent of completing these transactions by year end. We also remain committed to our share buyback program."

SRC Net Asset Value as at June 30, 2015

The following table outlines SRC's equity attributable to shareholders and investment ownership as at June 30, 2015. Please see the Company's unaudited consolidated interim financial statements and notes thereon, and management's discussion and analysis for the three and six-months ended June 30, 2015 for additional information.

As at June 30, 2015, the Company was invested in $94.7 million of public companies and $106.2 million of private companies. The total value of the Company's cash and public companies less its outstanding debt represented 93% of its market capitalization.

(in thousands except share and per share amounts)		As at June 30, 2015	SRC Ownership (undiluted)

Cash and cash equivalents		$ 3,095
Other assets		1,552

Investments owned, at fair value
Energy exploration, production and services
Long Run Exploration Ltd.	18,170		11.9%
One Earth Oil & Gas Inc.	2,274		97.1%
InPlay Oil Corp.	23,976		19.9%
Independence Contract Drilling, Inc.	50,067		18.4%
Other investments	10,009	104,496	n/a

Mining
Corsa Coal Corp.	23,696		19.9%
Other investments	2,751	26,447	n/a

Agriculture
One Earth Farms Corp.	33,004		49.9%
Union Agriculture Group	36,946	69,950	6.3%


Liabilities		14,541
Total equity attributable to shareholders (NAV)		$ 190,999

Number of common shares issued and outstanding as at June 30, 2015		97,724,148

NAV per share		$ 1.95

SRC corporate developments:

The Company reported a net loss of $10.4 million for the three-months ended June 30, 2015 compared to a net loss of $1.0 million for the three-months ended June 30, 2014. The current quarter's loss was primarily comprised of net unrealized losses on the investment portfolio
Expenses for the three-months ended June 30, 2015 were $1.8 million, compared to $7.4 million for the three-months ended June 30, 2014
The Company recorded a reduction in the fair value of its heavy oil investment in One Earth Oil & Gas Inc. as a result of the increased uncertainty around One Earth Oil & Gas Inc. being able to successfully conclude suitable amendments to its joint venture agreement
The Company's discount to NAV at June 30, 2015 was 51.8% compared to 54.9% at March 31, 2015
As at June 30, 2015, the Company's net cash position was negative $9.3 million

Conference Call Details

SRC will hold a conference call to discuss its 2015 second quarter results on Monday, July 27, 2015 at 11:00am ET. To participate in the call, please dial (866) 322-9569 ten minutes prior to the scheduled start of the call and provide conference ID: 88323701. A taped replay of the conference call will be available until Monday, August 3, 2015 by calling (855) 859-2056 or (404) 537-3406. The conference call will be webcast live at www.sprottresource.com and http://edge.media-server.com/m/p/o6f7gpzm

About Sprott Resource Corp.

Sprott Resource Corp. (TSX:SCP) is a publically-listed private equity firm focused on the natural resource sector. The company currently has investments in energy exploration, production and services, mining and agriculture. SRC creates value for its investors by applying a disciplined investment process to deploy capital while managing risk within highly cyclical sectors. SRC is a business builder that is committed to being a value-added partner with proven management teams. SRC supports its investments through active management and the provision of long-term capital, as well as strategic, financial and governance oversight. Founded in 2007, the Company is based in Toronto, Canada and is managed by an experienced team of private equity specialists, supported by the technical and investment resources of Sprott Inc. and its subsidiaries and affiliates. Management of SRC is dedicated to generating long-term superior returns on capital for its shareholders, while focusing on risk management and real wealth preservation. To learn more, please visit www.sprottresource.com.

Forward-Looking Information

Certain statements in this press release contain forward-looking information (collectively referred to herein as the "Forward-Looking Statements") within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the forgoing, this press release contains Forward-Looking Statements pertaining to: (i) narrowing the discount to NAV; (ii) active pursuit of monetizations of some of SRC's more mature investments to improve the Company's liquidity profile with the intent of completing these transactions by year end; and (iii) continued commitment to the share buyback program. Although SRC believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize, including: (i) general economic, market and business conditions; (ii) commodity price fluctuations and uncertainties and, in particular the price of oil and gas; (iii) risks associated with SRC's portfolio companies' industries; (iv) those risks disclosed under the heading "Risk Management" in SRC's MD&A for the three month period ended June 30, 2015; and (v) those risks described under the heading "Risk Factors" in SRC's annual information form dated March 3, 2015. The Forward-Looking Statements speak only as of the date hereof, unless otherwise specifically noted, and SRC does not assume any obligation to publicly update any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable Canadian securities laws.

CONTACT: For further information:
         Glen Williams
         Director of Communications
         T: (416) 943-4394
         E: gwilliams@sprott.com

Sprott Resource Corp.