Board of Directors

Eric Sprott, Chairman
Mr. Sprott has over 40 years of experience in the investment industry and has managed client funds for 37 years. Mr. Sprott entered the investment industry as a research analyst at Merrill Lynch Canada, Inc. In 1981, he founded Sprott Securities Limited (a predecessor to Sprott Securities Inc., now Cormark). After establishing Sprott Asset Management Inc. in December 2001 as a separate entity, he divested his entire stake in Sprott Securities Inc. to its employees. Mr. Sprott’s investment abilities are demonstrated by the track record of the Sprott Hedge Fund L.P., Sprott Hedge Fund L.P. II, Sprott Offshore Fund, Sprott Canadian Equity Fund, Sprott Energy Fund and the Managed Accounts. From 2008 until September 2010, Mr. Sprott served as Chief Executive Officer of Sprott, before stepping down to focus on his roles as Chairman of Sprott and Chief Investment Officer of Sprott Asset Management.

Jack C. Lee, Lead Director
Mr. Lee has over 37 years experience in the oil and gas industry. He is currently Chairman of the Corporation, and also serves as Chairman of Alaris Royalty Corp., CanEra Resources Inc., and Gryphon Petroleum Corp. In addition, he is a director of Ithaca Energy Inc. and Darian Resources Ltd. He was previously Vice Chairman of Penn West Energy Trust, Chairman of Canetic Resources Trust and President and Chief Executive Officer of Acclaim Energy Inc., a predecessor of Canetic. Prior thereto, Jack was President and Chief Executive Officer of Danoil Energy Ltd, a predecessor of Acclaim. Mr. Lee has a Bachelor of Arts and a Bachelor of Commerce and is a member of the Institute of Corporate Directors.

Marc Faber, Director
Dr. Faber is the Managing Director of Marc Faber Ltd., an investment advisory and fund management firm. He also acts as a director of Ivanhoe Mines Ltd. (TSX, NYSE, NASDAQ: IVN), an international mining company with operations focused on the Asia Pacific region, and as a director and advisor to a number of private investment funds. Dr. Faber publishes a widely read monthly investment newsletter entitled “The Gloom, Boom & Doom Report” and is the author of several books including “Tomorrow’s Gold – Asia’s Age of Discovery.” He is a regular contributor to several leading financial publications around the world, including Barron’s. Dr. Faber has over 36 years experience in the finance industry, including acting as manager of an investment bank in the U.S. where he routinely performed financial analysis on a range of companies. Dr. Faber received his PhD in Economics magna cum laude from the University of Zurich. He is a member of the Institute of Corporate Directors.

Peter Grosskopf, Director
Mr. Grosskopf assumed the role of Chief Executive Officer of Sprott in September 2010. Mr. Grosskopf has over 23 years of experience in the financial services industry and an extensive background as an advisor and underwriter to companies in a wide variety of sectors. In addition to his role at Sprott, he also serves as Chief Executive Officer of Sprott Resource Lending Corp., and President of Sprott Consulting. Prior to joining Sprott, he was President of Cormark Securities Inc. Over the course of his career, Mr. Grosskopf has established a track record of successfully building and growing businesses. Prior to joining Cormark, Mr. Grosskopf was one of the co-founders of Newcrest Capital Inc., which was acquired by the TD Bank Financial Group in 2000. Mr. Grosskopf holds a Bachelor of Arts degree and a Masters of Business Administration from the University of Western Ontario.

Mark McCain, Director
Mr. McCain has been a private investor through Bulawayo Holdings Inc. since September 2006. Prior to that Mr. McCain was a Business Analyst with McCain Foods Ltd. since March 1998. Mr. McCain has been a director of McCain Foods Ltd. for the past eight years and a director of the McCain Foods Group Inc. for over ten years.

James T. Roddy, Director
Mr. Roddy has held a number of senior positions and directorships with companies in various industries. He served as President and Chief Executive Officer and Director of Ontario Bus Industries Inc. in 1994 and from 1989 to 1993 was President and Chief Operating Officer and Director of Slater Industries Inc. From 1985 to 1989 he held various positions with Campeau Corporation, including President, Chief Financial Officer and Chief Operating Officer and Director, and served in the roles of Chief Financial Officer, Executive Vice President and Chief Operating Officer and Director of Peoples Jewellers Limited between 1967 and 1984. Mr. Roddy has also held directorships with numerous public and not-for-profit corporations. James received his Chartered Accountant designation in 1967.

Rick Rule, Director
Founder of Global Resource Investments, Ltd. Rick began his career in the securities business in 1974, and has been principally involved in natural resource security investments ever since. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His research and brokerage capabilities are frequently recommended by distinguished financial newsletter writers such as Bob Bishop, Doug Casey, Adrian Day, Richard Maybury, Paul Van Eeden, Mark Skousen, Jack Pugsley and others.