Sentry Select Primary Metals Corp. Announces Strategic Review Process Update

  Sentry Select Primary Metals Corp. (the "Corporation") (TSX: PME), is pleased to provide an update on its review of strategic alternatives for the Corporation. The Corporation has struck a special committee comprised of the independent members of the Corporation's board of directors (the "Special Committee"). To assist them in completing their review, the Special Committee has retained independent legal counsel and is in the later stages of retaining independent financial advisors. The Special Committee's review process is currently on-going and expected to be completed in a timely fashion.

Sentry Select Primary Metals Corp.

Sentry Select Primary Metals Corp.'s investment objective is to provide shareholders with long-term capital appreciation by investing in an actively managed portfolio consisting primarily of securities of mining and exploration issuers. Although the Corporation's initial intended focus was to invest in issuers that are engaged in the production of and/or exploration for uranium, nickel and molybdenum, the composition of the actively managed portfolio may be altered at any time.

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. The forward-looking statements are not historical facts but reflect the Corporation'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 the timing of the completion of the Special Committee's strategic review. Although the Corporation 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. For a complete disclosure record of the Corporation, please visit the Corporation's profile at www.sedar.com.

Contacts: Sentry Select Capital Inc. Investor Services (broker/investor inquiries and media inquiries) 1-800-730-4623 416-364-1197 (FAX) [e-mail] www.sentryselect.com