An anonymous director reports

SPROTT RESOURCE CORP. ANNOUNCES LAUNCH OF INDEPENDENCE CONTRACT DRILLING, INC.'S INITIAL PUBLIC OFFERING

Sprott Resource Corp.'s investee company, Independence Contract Drilling Inc., has launched its initial public offering of 10 million shares of common stock. The shares are expected to trade on the New York Stock Exchange under the ticker symbol ICD. The underwriters of the offering will have a 30-day option to purchase up to an additional 1.5 million shares from Independence Contract Drilling to cover overallotments, if any.

Morgan Stanley & Co. LLC, RBC Capital Markets LLC, and Tudor, Pickering, Holt & Co. Securities Inc. are acting as book-running managers for the offering. Canaccord Genuity, Capital One Securities, Cowen and Company, FBR, Iberia Capital Partners LLC, and Johnson Rice & Company LLC are acting as co-managers. The offering is being made only by means of a prospectus. Once it becomes available, potential investors can obtain a prospectus that meets the requirements of Section 10 of the Securities Act of 1933 from:

• Morgan Stanley & Co., attention: prospectus department, 180 Varick St., second floor, New York, N.Y., 10014;
• RBC Capital Markets, attention: prospectus department, Three World Financial Center, 200 Vesey St., eighth floor, New York, N.Y., 10281, telephone: 877-822-4089;
• Tudor, Pickering, Holt & Co., attention: prospectus department, Heritage Plaza, 1111 Bagby St., suite 5100, Houston, Tex., 77002, telephone: 713-333-7100.

When available, to obtain a copy of the prospectus, free of charge, visit the U.S. Securities and Exchange Commission's website, and search under the registrant's name, Independence Contract Drilling.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective.

We seek Safe Harbor.