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Share Structure

Common shares*
Basic Issued and outstanding: 144,370,909 (listed on TSX under symbol ST)

Warrants:
837,500 @$0.75 expiring June 15, 2012
11,713,972 @ $0.75 expiring August 18, 2012
27,042,698 @ $1.50 expiring April 28, 2013 (listed on TSX under symbol ST.WT)

Options: 11,818,334 @ C$0.67 - $1.61

Fully diluted (shares, warrants and options) : 195,783,413

  Outstanding Fully Diluted
Sprott Resource Corp 46,912,000 (32.5%) 52,912,000 (27.0%)
Management 9,231,958 (6.4%) 27,256,416 (13.9%)

Float (issued and outstanding): 88,226,951 (61.1%)

*As of March 26, 2012.