Sentry Select Primary Metals Corp. Announces Completion of Strategic Review Process

Sentry Select Primary Metals Corp. (the "Corporation") (TSX:PME), is pleased to
announce the results of its review of strategic alternatives for the
Corporation. The Corporation's special committee (the "Special Committee"),
comprised of the independent members of the Corporation's Board of Directors
(the "Board"), has recommended, and the Board has subsequently approved, that
the approval of the shareholders of the Corporation be sought to restructure the
Corporation as follows:


a) amend the management agreement between the Corporation and Sentry Select
Capital Inc., the manager of the Corporation (the "Manager"), to reduce the
annual management fee payable to the Manager from 1.60% of the Corporation's net
asset value, to 1.10%;


b) amend the management agreement to eliminate the Manager's right to receive a
performance fee;


c) amend the management agreement to eliminate the Manager's right to receive a
termination fee;


d) amend the management agreement to state that the Manager will not resign as
the manager of the Corporation;


e) amend the Corporation's articles of amendment to implement an unlimited
annual redemption right at the net asset value per Class A Share ("Share"),
subject to a declining redemption fee schedule (the "Redemption Fee"); and


f) amend the Corporation's articles of amendment to terminate the Corporation's
mandatory market purchase program (collectively, the "Proposal").


The Special Committee has received a fairness opinion from their independent
financial adviser, Grant Thornton LLP, stating that the Proposal is fair to the
Corporation's shareholders from a financial point of view.


The Proposal remains subject to the review by the Corporation's Independent
Review Committee and applicable regulatory approvals.


Redemption Fee Schedule

Depending on the year of the annual redemption, Shares may be subject to a
declining Redemption Fee, payable by the redeeming shareholder out of the
redemption proceeds. The Redemption Fee will be paid to the Manager and will be
equal to the percentage of net asset value per Share as of the applicable
redemption date as shown in the following table:




-----------------------------------------
Annual Redemption         Redemption Fee
-----------------------------------------
2010                                   5%
-----------------------------------------
2011                                   4%
-----------------------------------------
2012                                   3%
-----------------------------------------
2013                                   2%
-----------------------------------------
2014                                   1%
-----------------------------------------
2015 onwards                           0%
-----------------------------------------



A management information circular and other proxy materials containing further
information regarding the Proposal as well as the date, time and location of the
Special Meeting of the Corporation's shareholders will be provided to
shareholders of record in due course.


Dividend

The Proposal is not expected to affect the Corporation's current monthly
dividend rate of $0.05 per Share.


Sentry Select Primary Metals Corp.

Sentry Select Primary Metals Corp.'s investment objective is to provide
shareholders with long-term capital appreciation. The Corporation is invested in
an actively managed portfolio consisting primarily of securities of mining and
exploration issuers, with a current focus on gold and silver issuers.


Sentry Select Capital Inc.

Sentry Select Capital Inc., the manager of the Corporation, is a Canadian wealth
management company that offers a diverse range of investment products including
closed-end investment funds, mutual funds, principal-protected notes and
flow-through limited partnerships, covering a variety of domestic and global
mandates.


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 Corporation or the Manager. The forward-looking statements are not
historical facts but reflect the Corporation's and the Manager'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
including, but not limited to, the failure to receive any required regulatory
approvals or shareholder approval to implement the Proposal. Although the
Corporation and the Manager believe 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.
A complete disclosure record for the Corporation, please visit the Corporation's
profile at www.sedar.com.




Sentry Select Capital Inc.
The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: [phone]
Fax: [phone]