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Sentry Select Capital Corp. announces exchange ratios for 130/30 Mining LP
2008-05-28

TORONTO: Sentry Select Capital Corp. (“Sentry Select” or the “Manager”) is pleased to announce the Exchange Ratios for 130/30 Mining LP (the “Partnership”) exchange option as announced in the preliminary prospectus of the offering dated April 21, 2008. The Partnership will issue Class A Units and Class F Units (collectively, the “Units”).

Cash option: Prospective purchasers may still purchase Units by cash payment until closing. The offering price is $10.00 per Class A Unit and $10.00 per Class F Unit.

Exchange option: The exchange option was open for acceptance by holders of Eligible Securities until 5:00 pm (Toronto time) on May 27, 2008 (the “Deposit Date”).

Investment objectives: The Partnership will invest in an actively managed long/short portfolio consisting primarily of equity and debt securities of metals and minerals mining and exploration issuers that are listed on a North American stock exchange using a 130/30 approach with the view to:

  • providing limited partners with monthly cash distributions of 8% per annum (approximately $0.0667 per month) based on the initial price of Units; and
  • enhancing the net asset value of the Partnership.

Exchange Ratios: The number of Units issuable for the Eligible Securities of an Exchange Issuer deposited by a prospective purchaser pursuant to the Exchange Option was determined by dividing the weighted average trading price of the Eligible Securities of such Exchange Issuer on the Toronto Stock Exchange during the three consecutive trading days ended on May 27, 2008, as adjusted to reflect distributions declared by an Issuer that will not be received by the Partnership; by $10.00.

Issuers and Exchange Ratios: The following table sets out the weighted average trading price of each Eligible Security and the Exchange Ratios used to determine the number of Units to be issued for each Eligible Security. The Exchange Ratios and other information disclosed below will be included in the final prospectus to be filed with the securities regulatory authorities across Canada. The Exchange Ratios are rounded down to four decimal places.

Exchange Issuer

Weighted Average Trading Price

Exchange Ratio

Acadian Mining Corp.

         0.6233

      0.0623

Agnico-Eagle Mines Ltd.

       70.1330

      7.0133

Alamos Gold Inc.

         6.6193

      0.6619

Alexis Minerals Corp.

         0.6741

      0.0674

Amerigo Resources Ltd. 

         2.0003

      0.2000

Andina Minerals Inc.

         3.8747

      0.3874

Anvil Mining Ltd.

       10.5936

      1.0593

Aquiline Resources Inc.

         7.7900

      0.7790

Aurelian Resources Inc.

         4.1352

      0.4135

Aurizon Mines Ltd.

         4.8858

      0.4885

Baja Mining Corp.

         1.5709

      0.1570

Barrick Gold Corp.

       40.9945

      4.0994

Bear Creek Mining Corp.

         6.9862

      0.6986

Blue Note Mining Inc.

         0.2131

      0.0213

Breakwater Resources Ltd.

         0.7012

      0.0701

Brilliant Mining Corp.

         1.0417

      0.1041

Cameco Corp.

       40.3057

      4.0305

Capstone Mining Corp.

         4.2700

      0.4270

Crowflight Minerals Inc.

         0.6879

      0.0687

Denison Mines Inc.

         8.2192

      0.8219

Detour Gold Corp.

       20.2124

      2.0212

Eastern Platinum Ltd.

         2.8156

      0.2815

Eldorado Gold Corp.

         8.0618

      0.8061

Equinox Minerals Ltd.

         4.7553

      0.4755

European Goldfields Ltd.

         4.6756

      0.4675

First Nickel Inc.

         0.3748

      0.0374

First Quantum Minerals Ltd.

       76.3359

      7.6335

FNX Mining Company Inc.

       23.4395

      2.3439

Fortuna Silver Mines Inc.

         2.2167

      0.2216

Fronteer Development Group Inc.

         5.1532

      0.5153

Frontera Copper Corp.

         3.4899

      0.3489

GlobeStar Mining Corp.

         1.8517

      0.1851

GLR Resources Inc.

         0.3820

      0.0382

Goldcorp Inc.

       40.9379

      4.0937

Greystar Resources Ltd.

         4.8560

      0.4856

Guyana Goldfields Inc.

         4.7329

      0.4732

HudBay Minerals Inc.

       17.3499

     1.7349

IAMGold Corp.

         6.1204

      0.6120

Inmet Mining Corp.

       70.6777

      7.0677

Ivanhoe Mines Ltd.

         9.1534

      0.9153

Katanga Mining Ltd.

       12.2802

      1.2280

Keegan Resources Inc.

         3.8171

      0.3817

Kinross Gold Corp.

       20.2267

      2.0226

Kirkland Lake Gold Inc.

         9.5864

      0.9586

Lake Shore Gold Corp.

         1.6046

      0.1604

Lundin Mining Corp.

         8.4925

      0.8492

Metallica Resources Inc.

         7.8095

      0.7809

New Gold Inc.

         8.9890

      0.8989

North American Palladium Ltd.

         5.9618

      0.5961

Northgate Minerals Corp.

         3.0187

      0.3018

Orko Silver Corp.

         1.6766

      0.1676

Osisko Exploration Ltd.

         4.7662

      0.4766

Paladin Energy Ltd.

         5.5652

      0.5565

Pan American Silver Corp.

       33.9084

      3.3908

Quadra Mining Ltd.

       22.4370

      2.2437

Red Back Mining Inc.

         7.7993

      0.7799

Roca Mines Inc.

         2.5922

      0.2592

Sacre Coeur Minerals Ltd.

         1.4000

      0.1400

San Gold Corp.

         1.5562

      0.1556

Scorpio Mining Corp.

         1.2495

      0.1249

SEMAFO Inc.

         1.4767

      0.1476

Sherwood Copper Corp.

         5.4724

      0.5472

Shore Gold Inc.

         3.2249

      0.3224

Silver Wheaton Corp.

       14.2317

      1.4231

Silvercorp Metals Inc.

         7.7983

      0.7798

Silverstone Resources Corp.

         2.8122

      0.2812

Slam Exploration Ltd.

         0.1189

      0.0118

Teck Cominco Ltd., Cl. B

       48.3391

      4.8339

Thompson Creek Metals Company Inc.

       21.7910

      2.1791

U.S. Silver Corp.

         0.4662

      0.0466

Uranium One Inc.

         4.7484

      0.4748

Uranium Participation Corp.

       10.2316

      1.0231

Victoria Resource Corp.

         0.9449

      0.0944

VMS Ventures Inc.

         0.7004

      0.0700

Western Goldfields Inc.

         2.3898

      0.2389

Yamana Gold Inc.

       15.4584

      1.5458

Yukon-Nevada Gold Corp.

         1.2078

      0.1207

Sentry Select Capital Corp.: Sentry Select, the manager of the Partnership, is a Canadian wealth management company that manages over $6 billion in gross assets as of March 31, 2008.

Agents: The syndicate of agents is co-led by CIBC World Markets Inc., BMO Capital Markets and National Bank Financial Inc., and includes Canaccord Adams, HSBC Securities (Canada) Inc., Raymond James Ltd., Dundee Securities Corporation, GMP Securities L.P., Blackmont Capital Inc., Wellington West Capital Inc., Berkshire Securities Inc., Desjardins Securities Inc., Industrial Alliance Securities Inc., Jory Capital Inc., Laurentian Bank Securities Inc., Research Capital Corporation and Richardson Partners Financial Limited (the “Agents”).

More information: Investor Services (broker/investor inquiries) or Kinga Lam (media inquiries) Tel:  1-888-246-6656   Fax: 416-364-1197   info@sentryselect.com

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions ‘‘expect’’, ‘‘intend’’, “will” and similar expressions to the extent they relate to the Partnership. The forward-looking statements are not historical facts but reflect Sentry Select’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sentry Select believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Sentry Select undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

A preliminary prospectus dated April 21, 2008 containing important information relating to these securities has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the Agents. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

All capitalized terms noted herein but not defined are as per the preliminary prospectus dated April 21, 2008


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 (www.sedar.com).