Sprott Resource Lending Corp.
TSX : SIL
NYSE Amex : SILU

Sprott Resource Lending Corp.

April 18, 2011 18:13 ET

Robert Buchan to Join Board of Directors

TORONTO, ONTARIO--(Marketwire - April 18, 2011) -Sprott Resource Lending Corp. (the "Corporation" or "Sprott Resource Lending")(TSX:SIL)(NYSE Amex:SILU) is pleased to announce that Robert M. Buchan has agreed to join the Corporation as a director. Mr. Buchan will be put forward for nomination as a director at the Corporation's upcoming meeting of shareholders.

Mr. Buchan is the current Executive Chairman of Allied Nevada Gold Corp., Chairman, President and CEO of Elgin Mining Inc. and Chairman of Angus Mining (Namibia) Inc. He was previously President and CEO of Kinross Gold Corporation and helped to build the merchant banking business at Dundee Corporation. Mr. Buchan also contributes extensively to charitable causes, including Queens University, where he graduated with a Master of Science in Mining Engineering.

Peter Grosskopf, President and CEO, remarked, "We welcome the addition of Bob to our Board of Directors. His extensive track record of value creation in the resource sector, his experience as a merchant banker and extensive contacts in the sector will all serve as valuable additions as we grow our business."

Annual and Special Meeting of Shareholders

Sprott Resource Lending's annual and special meeting of shareholders will take place on Wednesday, May 11th at 1:00 p.m. (EDT) at the St. Andrew's Club & Conference Centre, 150 King Street West, Toronto, Ontario.

About Sprott Resource Lending Corp.

Sprott Resource Lending specializes in bridge and mezzanine lending to precious and base metal mining, exploration and development companies and energy companies on a global basis. Headquartered in Toronto, the Corporation seeks to generate income from lending activities as well as the upside potential of bonus arrangements with borrowers generally tied to the underlying property or shares of the borrower.

Sprott Resource Lending (www.sprottlending.com) was founded by Quest Capital Corp. and Sprott Lending Consulting Limited Partnership. Sprott Lending Consulting LP is a wholly owned subsidiary of Sprott Inc., the parent of Sprott Asset Management LP (www.sprott.com), a leading Canadian independent money manager.

For more information about Sprott Resource Lending, please visit SEDAR (www.sedar.com).

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This press release may include certain statements that constitute "forward-looking statements", and "forward looking information" within the meaning of applicable securities laws ("forward-looking statements" and "forward-looking information" are collectively referred to as "forward-looking statements", unless otherwise stated). Such forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Forward-looking statements may relate to the Corporation's future outlook and anticipated events or results and may include statements regarding the Corporation's future financial position, business strategy, budgets, litigation, projected costs, financial results, taxes, plans and objectives. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. These forward-looking statements were derived utilizing numerous assumptions regarding expected growth, results of operations, performance and business prospects and opportunities that could cause our actual results to differ materially from those in the forward-looking statements. While the Corporation considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect.

Forward-looking statements should not be read as a guarantee of future performance or results. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. To the extent any forward-looking statements constitute future-oriented financial information or financial outlooks, as those terms are defined under applicable Canadian securities laws, such statements are being provided to describe the current potential of the Corporation and readers are cautioned that these statements may not be appropriate for any other purpose, including investment decisions. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward looking statements contained in this press release are expressly qualified in their entirety by this cautionary notice.

Contact Information

  • Sprott Resource Lending Corp.
    Peter Grosskopf
    President and CEO
    416-943-4998

    Sprott Resource Lending Corp.
    Jim Grosdanis
    CFO
    416-943-4698