Sprott Resource Holdings Inc. announced that it has agreed to end its management services relationship with Sprott Consulting Limited Partnership a wholly-owned entity of Sprott Inc. and transition to establish an independent management team. The Company has entered into a Transitional Support Agreement dated May 12, 2020 and effective June 23, 2020 with SCLP pursuant to which the Management Services Agreement between the Company and SCLP will be terminated effective June 23, 2020, the date of the Company's annual general meeting of shareholders. There is no payment required by the Company to be made to SCLP or any Sprott Inc. affiliate as a result.

As a result of the Agreement: all employees of Sprott Inc. and its affiliates will resign as directors or officers of the Company or its subsidiaries. Each of Rick Rule, Michael Harrison and Andrew Stronach will not stand for re-election at the upcoming AGM; Terry Lyons, the Chairman of the Board of the Company, will become the Interim Chief Executive Officer; Michael Staresinic, the Chief Financial Officer of the Company, is anticipated to continue in that role and may become a direct employee of the Company. The Board of Directors of the Company will determine the composition of the balance of the Company's management team in due course.