Sprott Resource Corp. announces termination of option agreement with Paragon Minerals

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[{"type":"text","content":"\n\n\n\nTORONTO, Dec. 12 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC")\nannounced today that it has elected to terminate its option agreement (the\n"Agreement") with Paragon Minerals Corporation ("Paragon") concerning\nParagon's JBP-Appleton Linear Property. SRC entered into the Agreement in\nNovember 2007.\n\n\n"We would like to thank Paragon for having involved us in the project,"\nsaid Kevin Bambrough, President and CEO of SRC. "Over the past year our\ncompany has experienced significant growth. Going forward, we intend to focus\non more advanced projects with larger capital commitments."\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 contained herein may constitute "forward-looking\nstatements" under applicable securities laws. Some of the forward-looking\nstatements may be identified by words such as "intends", "expects",\n"anticipates", "should", "believes", "plans", and similar expressions. These\nstatements are based on current estimates, factors and assumptions, including\nexpectations regarding the SRC's future strategy and business and the\nexecution of its existing plans. These statements involve known and unknown\nrisk. No assurance can be given that any events anticipated by the\nforward-looking statements will occur. Actual results and future events could\ndiffer materially from those expressed in, or implied by, the forward-looking\nstatements. As a result, readers are cautioned not to place undue reliance on\nt...

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