Sprott Molybdenum Participation Corporation

**The Corporation calculates its NAV at 4:00pm (EST) on the last business day of each week that the TSX is open ("Valuation Date"). The NAV of the Corporation as at each Valuation Date is available to investors upon request commencing on the first business day after such Valuation Date by calling toll free at 1-888-362-7172.

Sprott Molybdenum Participation Corporation

The Corporation is an investment holding company created to invest in Molybdenum Assets. The primary investment objective of the Corporation is to achieve capital appreciation by investing in securities of private and public companies that explore for, mine and/or process molybdenum and by investing in, holding, selling and otherwise transacting in Physical Molybdenum. It is not an investment strategy of the Corporation to actively speculate with regards to short-term changes in molybdenum prices. The Corporation's investment mandate will provide investors with several benefits. It will provide investors with the opportunity to invest in Physical Molybdenum, which is currently unavailable through an exchange. In addition, it will provide investors with a diversified portfolio of securities of private and public companies that explore for, mine and/or process molybdenum.

Initial Public Offering

The Company closed its Initial Public Offering on April 16, 2007. An aggregate of 37,800,000 units were sold at $5.00 CAD per Unit, for aggregate gross proceeds of $189,000,000. Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire, subject to adjustment in certain circumstances, one common share of the Corporation at a price of $7.50 until April 16, 2009. The common shares and warrants are listed on the Toronto Stock exchange under the symbol MLY and MLY.WT, respectively

Market Activity
Common Shares - MLY
Common Share purchase warrants - MLY.WT

Monthly Comment by Denis Battrum
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© 2007 SPROTT MOLYBDENUM