Sentry Select Primary Metals Corp. (TSX:PME) Announces Treasury Offering and Waiver of Annual Redemption Fee

Sentry Select Primary Metals Corp. (TSX:PME) (the "Company") is pleased to
announce that a preliminary short form prospectus in connection with a treasury
offering (the "Offering") of shares (the "Shares") has been filed with, and the
receipt issued by, the securities commissions and regulatory authorities in each
of the provinces and territories of Canada. The Offering will be priced at not
less than the most recently calculated net asset value per Share prior to the
date of the final short form prospectus plus the per Share estimated fees and
expenses of the Offering. 


Annual Redemption Fee   

The Company is also pleased to announce that Sentry Investments Inc. ("Sentry"),
the Company's investment manager, has agreed to irrevocably waive the applicable
annual redemption fee associated with the redemption of Shares in respect of the
Company's annual redemption, effective immediately. Prior to this announcement,
shareholders of the Company wishing to redeem their Shares through the Company's
annual redemption would have been subject to an annual redemption fee amounting
to 3% of gross redemption proceeds in 2012, 2% in 2013, 1% in 2014 and 0%
thereafter.  


Sentry Select Primary Metals Corp.  

The Company provides investors with an opportunity to invest in an actively
managed portfolio consisting primarily of securities of issuers that are engaged
in the production and/or exploration of metal and minerals, with a current focus
on gold issuers. 


Agents  

The syndicate of agents, led by CIBC World Markets Inc., and co-led by RBC
Capital Markets, includes Canaccord Genuity Corp., BMO Capital Markets, National
Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Raymond James
Ltd., GMP Securities L.P., Macquarie Private Wealth Inc., Desjardins Securities
Inc., Dundee Securities Ltd., HSBC Securities (Canada) Inc., Manulife Securities
Incorporated, Mackie Research Capital Corporation (the "Agents"). 


Sentry Investments   

Sentry Investments is a Canadian asset management company with approximately $7
billion in assets under management on behalf of Canadian investors. Sentry
Investments offers a diverse range of investment products including mutual
funds, hedge funds, flow-through limited partnerships and other alternative
investment products. Sentry Investments was recognized as Canada's Best Equity
Funds Group at the 2011 and 2012 Lipper Fund Awards and was one of only five
companies in 2011 to receive the prestigious Brendan Wood International TopGun
Asset Management Team Award. 


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 Company and/or Sentry. The forward-looking statements are not historical
facts but reflect the Company's and/or Sentry'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 the Company and/or Sentry
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. The Company and/or Sentry
undertake 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. For a complete disclosure record of the Company, please visit
its profile at www.sedar.com. 


A preliminary short-form prospectus dated March 21, 2012 containing important
information relating to these securities has been filed with the securities
commissions or similar authorities in all of the provinces and territories of
Canada. The preliminary short-form prospectus is still subject to completion or
amendment. Copies of the preliminary short-form prospectus may be obtained from
the Agents or is available electronically at www.sedar.com. 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.




Sentry Investments Inc.                                                     
Commerce Court West                                                         
199 Bay Street, Suite 4100                                                  
P.O. Box 108                                                                
Toronto, ON M5L 1E2                                                         
Tel: [phone]                                                           
Fax: [phone]