Scandinavian Minerals Ltd.
Sprott Asset Management acquires 10.6% of Scandinavian Minerals
Scandinavian Minerals Ltd. / Miscellaneous Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Sprott Asset Management acquires 10.6% of Scandinavian Minerals Toronto, Ontario – Scandinavian Minerals Limited (TSX: SGL, Frankfurt: W3M) announces that Sprott Asset Management Inc. ('Sprott') has on April 10, 2007 filed an initial Report under the Securities Act (Ontario) disclosing that as at March 31, 2007, Sprott exercised control or direction, on behalf of accounts fully managed by it, over 1,883,600 common shares, representing 10.6% of the issued and outstanding shares of Scandinavian Minerals. In its filing Sprott has stated that the securities are being held for investment purposes and depending on market and other conditions, Sprott may from time to time in the future increase or decrease its ownership, control or direction over the shares of Scandinavian Minerals, through market transactions, private agreements or otherwise. Sprott’s managed accounts holding the shares include: Sprott Canadian Equity Fund; Sprott Bull/Bear RSP Fund; Sprott Hedge Fund L.P.; Sprott Hedge Fund L.P. II; Sprott Opportunities Hedge Fund L.P.; Sprott Opportunities Master Fund; Sprott Master Fund, Ltd., and the Sprott Managed Accounts. About Scandinavian Minerals Scandinavian Minerals Limited is a Canadian company focused on mineral development and exploration in Scandinavia and Finland. The Company is currently developing its 100%-owned Kevitsa nickel-copper-PGE project in Finland, one of the largest undeveloped nickel sulphide deposits in the world. Scandinavian Minerals believes that the Nordic region offers excellent potential for large-scale discoveries in under-explored terrain, combined with favourable mining laws, clear security of title, extensive mining experience and long-established political and economic stability. At February 28, 2007 the Company held cash of approximately $13 million and has 17.8 million outstanding common shares which trade on the Toronto Stock Exchange under the symbol SGL. For further information, please visit www.scandinavianminerals.com or contact: Peter Walker, President & CEO Marlies Studer, Studer Consulting AG 011-44-7717-223909 (+41) 44 215 2803 John Kearney, Chairman (416) 203 6128 Email: info@scandinavianminerals.com DGAP 13.04.2007 ----------------------------------------------------------------------
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