Sprott Resource Corp. announces acquisition of additional shares of Tournigan Energy Ltd.

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[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 18 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC")\nacquired beneficial ownership of 12,918,750 common shares (the "Common\nShares") of Tournigan Energy Ltd. (TSXV:TVC), representing approximately\n10.53% of the outstanding Common Shares, on November 11, 2008 through the\nfacilities of the Toronto Stock Exchange. These Common Shares are held through\nSRC's discretionary managed account with Sprott Asset Management Inc. Sprott\nAsset Management Inc. is the portfolio manager of the managed account and\nexercises control and direction over the Common Shares.\n\n\nWith these newly acquired Common Shares, SRC beneficially holds\n15,986,250 Common Shares or approximately 12.96% of the outstanding Common\nShares, all held in the managed account controlled and directed by Sprott\nAsset Management Inc.. The Common Shares were acquired beneficially through\nSRC's managed account for investment purposes. SRC, directly or through the\nmanaged account, may acquire additional Common Shares depending on market\nconditions and other relevant factors.\n\n\nAbout Sprott Resource Corp.\n\n\nSRC is a Canadian based company, the primary purpose of which is to\ninvest, directly and indirectly, in natural resources. Through acquisitions,\njoint ventures and other investments, SRC seeks to provide its shareholders\nwith exposure to the natural resource sector for the purposes of capital\nappreciation and real wealth preservation. SRC is well positioned to draw upon\nthe considerable experience and expertise of both its Board of Directors and\nSprott Consulting Limited Partnership (SCLP), of which Sprott Asset Management\nInc. is the sole limited partner. Pursuant to a management services agreement\nbetween SCLP and SRC, SCLP provides day-to-day business management for SRC as\nwell as other management and administrative services.\n\n\nForward Looking Statements\n\n\nCertain statements regarding SRC, including management's assessment of\nfuture plans, may constitute forward-looking statements under applicable\nsecurities laws and necessarily involve risk. SRC's actual results or\nachievements could differ materially from those expressed in, or implied by,\nthe forward-looking statements. No assurance can be given that any events\nanticipated by the forward-looking statements will occur. These\nforward-looking s...

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