Sprott Resource Corp. Announces Joint Venture Between One Earth Oil & Gas Inc. and Gift Energy Ltd.

Sprott Resource Corp. Announces Joint Venture Between One Earth Oil & Gas Inc. 
and Gift Energy Ltd. 
TORONTO, Jan. 14, 2013 /CNW/ - Sprott Resource Corp. ("SRC" or "The Company") 
(TSX: SCP) is pleased to announce that its subsidiary One Earth Oil & Gas Inc. 
("One Earth Oil & Gas") has entered into a joint venture agreement with Gift 
Energy Limited ("Gift Energy"), an entity established by the Gift Lake Metis 
Settlement ("Gift Lake"), to explore and develop Gift Lake lands for heavy oil. 
"We are honoured to be moving forward on this project with our partners at 
Gift Energy and the people of Gift Lake," said Blaine Favel, CEO of One Earth 
Oil & Gas. 
Gift Lake is located in the Peace River region of Northwest Alberta, an area 
of existing heavy oil production. The Gift Lake lands are situated southeast 
of major Bluesky oilsands production fields in the Seal and Cliffdale regions 
currently operated by several established Canadian energy producers. 
An Oilsands Lease for 12 sections (3,072 hectares) of land has now been 
finalized with the Alberta government. As a precursor to further development 
activity, One Earth Oil & Gas and Gift Energy will undertake an initial 3D 
seismic and drilling program in the first half of 2013, representing a total 
investment in the joint venture of up to $15 million by One Earth Oil and Gas. 
The Gift Bluesky heavy oil project is anticipated to produce under cold flow 
primary technologies. An option on a further 12 sections is also available to 
the parties, subject to standard lease and permitting requirements. 
"We expect the partnership model that One Earth Oil & Gas and Gift Energy will 
use to develop this project to be mutually beneficial to both investors and 
the community of Gift Lake," added Dave Lamouche, Chairman of Gift Lake. 
One Earth Oil & Gas was established by SRC in 2009 as a vehicle to realize the 
potential for economic oil and gas development through partnerships between 
industry and Canada's Metis and First Nations. 
"Through this project, we are pleased to bring a partner like Gift Lake 
together with the One Earth Oil & Gas management team, which has deep 
experience in both Western Canadian heavy oil exploration and building 
businesses with Aboriginal communities," commented Kevin Bambrough, CEO of SRC. 
About One Earth Oil & Gas Inc. 
One Earth Oil & Gas is a privately held company established by Sprott Resource 
Corp. and dedicated to pursuing oil and gas exploration and development 
opportunities in partnership with Metis and First Nations in Canada and the 
United States. The company has an experienced management team in place with an 
average of 30 years of experience in the oil and gas sector. 
About Sprott Resource Corp. 
SRC is a Canadian-based company, the primary purpose of which is to invest and 
operate in natural resources. Through acquisitions, joint ventures and other 
investments, SRC seeks to provide its shareholders with exposure to the 
natural resource sector for the purposes of capital appreciation and real 
wealth preservation. SRC is well positioned to draw upon the considerable 
experience and expertise of both its Board of Directors and Sprott Consulting 
LP (SCLP), of which Sprott Inc. is the sole limited partner. Pursuant to a 
management services agreement between SCLP and SRC, SCLP provides day-to-day 
business management for SRC as well as other management and administrative 
services. SRC invests and operates through Sprott Resource Partnership 
(SRP), a partnership between SRC and Sprott Resource Consulting Limited 
Partnership, an affiliate of SCLP which is the managing partner of SRP. 
Forward-looking information and statements 
This news release contains certain forward-looking information and 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 information or statements. In particular, but 
without limiting the forgoing, this news release contains forward-looking 
information and statements pertaining to further development activity with 
Gift Lake, completion of an initial 3D seismic and drilling program, 
anticipated production of the Gift Bluesky heavy oil project, leasing of 
further sections of land and the benefits of the partnership model between One 
Earth Oil & Gas and Gift Energy. Forward-looking statements or information 
are based on a number of material factors, expectations or assumptions which 
have been used to develop such statements and information but which may prove 
to be incorrect. Although SRC believes the expectations reflected in such 
forward-looking statements or information are reasonable, undue reliance 
should not be placed on forward-looking statements because SRC can give no 
assurance that such expectations will prove to be correct. The 
forward-looking information and statements included in this news release are 
not guarantees of future performance and should not be unduly relied upon. 
Such information and statement, including the assumptions made in respect 
thereof, involve known and unknown risks, uncertainties and other factors, 
which may cause actual results or events to differ materially from those 
anticipated in such forward-looking information or statements, including, 
without limitation, the success of the development activity and anticipated 
production from the project and those listed under the heading "Risk Factors" 
in SRC's annual information form dated March 27, 2012. Should one or more of 
these risks or uncertainties materialize, or should assumptions underlying the 
forward-looking statements prove incorrect, actual results, performance or 
achievements could vary materially from those expressed or implied by the 
forward-looking statements contained in this release. 
The forward-looking information and statements contained in this news release 
speak only as of the date of this news release, and SRC does not assume any 
obligation to publicly update or revise any of the included forward-looking 
statements or information, whether as a result of new information, future 
events or otherwise, except as may be expressly required by applicable 
securities laws. 
Stephen Yuzpe Chief Financial Officer Sprott Resource Corp. 200 Bay Street, 
Suite 2750 Toronto, Ontario M5J 2J2 Tel: (416) 977-7333 Fax: (416) 977-9555 
SOURCE: Sprott Resource Corp. 
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CO: Sprott Resource Corp.
ST: Ontario
NI: MNG VNT  
-0- Jan/14/2013 12:00 GMT
 
 
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