FOR THE PERIOD ENDING JULY 31, 2009

Sprott Mutual Funds (Net of all fees)

NAV 1 mth* YTD* 1 yr 3 yrs 5 yrs 10 yrs Inception
Sprott Canadian Equity Fund, Series A (1997) $26.77 -0.32% 8.52% -39.27% -7.04% 6.67% 22.00% 18.30%
Sprott Gold & Precious Minerals Fund, Series A (2001) $35.80 2.36% 49.02% -8.72% -10.67% 4.79% - 17.98%
Sprott Energy Fund, Series A (2004) $11.05 6.92% 30.60% -59.48% -16.20% 2.50% - 3.77%
Sprott Growth Fund, Series A (2006) $7.35 1.65% 20.20% -46.02% -11.26% - - -8.34%
Sprott Global Equity Fund, Series A (2007) $5.17 -3.09% -12.48% -30.19% - - - -22.90%
Sprott Small Cap Equity Fund, Series A (2007) $6.82 4.57% 34.05% -35.48% - - - -17.92%
Sprott All Cap Fund, Series A (2008)*** $9.77 - - - - - - -
Sprott Gold Bullion Fund, Series A (2009)*** $8.97 - - - - - - -

Sprott Hedge Funds (Net of all fees)

Sprott Hedge Fund L.P. I, Class A (2000)** $54.26 -7.89% -9.32% -24.59% 3.80% 11.09% - 21.37%
Sprott Hedge Fund L.P. II, Class A (2002) $16.67 -8.70% -12.24% -20.06% 5.90% 11.19% - 7.67%
Sprott Bull/Bear RSP Fund, Class A (2002) $8.13 -8.03% -10.95% -16.39% 7.19% 12.74% - 11.07%
Sprott Opportunities Hedge Fund L.P, Class A (2004) $26.22 -1.02% 0.50% -4.93% 6.31% 20.29% - 19.88%
Sprott Opportunities RSP Fund, Class A (2005) $14.36 -1.00% 0.45% -5.06% 6.18% - - 9.89%
Sprott Small Cap Hedge Fund (2007) $8.31 3.20% 37.95% -31.32% - - - -7.13%
** Please be advised that the Sprott Hedge Fund L.P. is closed to new investments.
*** In accordance with NI 81-102, we will not publish returns for this fund until it is one-year old.

Indices 1 mth* YTD* 1 yr 3 yrs 5 yrs 10 yrs

S&P/TSX Composite Total Return Index 4.22% 22.52% -17.73% -0.19% 7.66% 6.47%
S&P/TSX Global Gold Index -2.41% -1.45% -1.62% 0.45% 10.28% -
S&P/TSX Capped Energy Total Return Index -0.46% 23.74% -28.02% -6.36% 10.93% -
S&P 500 Index (CAD) -0.33% -3.23% -18.09% -9.69% -6.18% -6.12%
Dow Jones Industrial Average 7.28% 4.50% -19.39% -6.40% -1.99% -1.49%
NASDAQ Composite 6.55% 25.46% -14.92% -1.83% 0.95% -2.84%
S&P/TSX SmallCap Total Return Index 4.05% 22.70% -27.12% -11.49% -1.55% -
MSCI World Index (CAD) -0.44% 2.15% -17.52% -7.22% -1.89% -3.30%
* Figures are not annualized

Sprott Asset Management LP

Royal Bank Plaza, South Tower, 200 Bay Street Suite 2700 Toronto, ON M5J 2J1 T:416.943.6707 1.866.299.9906 F: 416.362.4928 www.sprott.com