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Precious Metals and Mining Trust raises gross proceeds of $97,850,000 after exercise of over-allotment for $2,850,000

TORONTO: Sentry Select Capital Corp. is pleased to announce that Precious Metals and Mining Trust (the “Trust”) has issued an additional 285,000 trust units for gross proceeds of $2,850,000 pursuant to the exercise by the agents of their over-allotment option.

Gross proceeds: Including the over-allotment, the total gross proceeds of the Trust’s recent public offering are $97,850,000.

Trading information: The Trust units trade on the Toronto Stock Exchange under the symbol MMP.UN.

Investment objectives: The Trust will invest in an actively managed portfolio consisting primarily of equity securities of metals and minerals mining and exploration issuers that are listed on a North American stock exchange. The Trust’s investment objectives are to provide unitholders with:

(i) long-term capital appreciation; and (ii) monthly cash distributions.

The indicative distribution for the first 12 months of the Trust is $0.50 per unit, representing a yield of 5% per annum based on a $10 per unit issue price.

Distribution reinvestment plan: Effective for the distribution payable to unitholders of record on September 29, 2006, the Trust will offer a distribution reinvestment plan whereby residents of Canada may elect to have their cash distributions reinvested in additional units of the Trust.

Sentry Select Capital Corp.: Sentry Select Capital Corp. provides investment, administrative and marketing services to 25 exchange-listed closed-end funds, 15 of which have exposure to the income trust sector, 16 mutual funds, 13 principal-protected notes and three flow-through limited partnerships. Sentry Select is one of the largest Canadian investment managers in the income trust sector. As of June 30, 2006, the firm had approximately $8.0 billion in gross assets under management.

Agents: A syndicate of agents co-led by CIBC World Markets Inc. and RBC Capital Markets, included BMO Nesbitt Burns Inc., TD Securities Inc., National Bank Financial Inc., Scotia Capital Inc., Canaccord Capital Corporation, aHSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Blackmont Capital Inc., Desjardins Securities Inc., Dundee Securities Corporation, Wellington West Capital Inc., IPC Securities Corporation and Research Capital Corporation.

More information: Investor Services (broker/investor inquiries) or Brian McOstrich (media inquiries) Tel: 1-888-246-6656 Fax: 416-364-1330

Documents (including press releases) regarding the various investment funds that are managed or advised by Sentry are provided for information purposes only and cannot be relied on to be complete, exhaustive or error-free unless the complete set of documents for any given investment fund with respect to which information is being sought is reviewed and then only on SEDAR (