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Press release from Marketwire

Sentry Select Primary Metals Corp. (TSX:PME) Treasury Offering Raises Approximately $47,414,085

Thursday, June 23, 2011

Sentry Select Primary Metals Corp. (TSX:PME) Treasury Offering Raises Approximately $47,414,08509:33 EDT Thursday, June 23, 2011TORONTO, ONTARIO--(Marketwire - June 23, 2011) - Sentry Select Primary Metals Corp. (the "Company") (TSX:PME) is pleased to announce that its treasury offering (the "Offering") closed today. The Offering raised aggregate gross proceeds of $47,414,085 and resulted in the issuance of an additional 4,537,233 Class A shares ("Shares"), of which, $6,184,446 (591,813 Shares) was attributable to the Agents' (as defined below) over-allotment option which also closed today. Shares were issued at a price of $10.45 per Share, which reflects the Company's net asset value per Share of $9.94 as at June 13, 2011, plus the per Share fees and expenses of the Offering. Use of proceedsSubject to the Company's investment restrictions, the Company intends to use the estimated net proceeds of the Offering to invest in securities in accordance with the investment objective and investment strategy of the Company.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.AgentsThe syndicate of agents, includes CIBC World Markets Inc., RBC Capital Markets, Canaccord Genuity Corp., BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research Capital Corporation, Macquarie Private Wealth Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc. (the "Agents").Sentry InvestmentsSentry Investments ("Sentry") is a Canadian asset management company that offers a diverse range of investment products including mutual funds, hedge funds, flow-through limited partnerships and other alternative investments, 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 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 their profiles at offering is only made by prospectus. The final short form prospectus, dated June 14, 2011, contains important detailed information about the securities being offered. Copies of the final short form prospectus may be obtained from the Agents or is available electronically at Investors should read the prospectus before making an investment decision.Sentry Select Primary Metals Corp.The Exchange Tower130 King Street WestSuite 2850, P.O. Box 104Toronto, Ontario M5X 1A4Telephone: (416) 861-8729Fax: (416) 364-5615FOR FURTHER INFORMATION PLEASE CONTACT: Investor Relations (broker/investorSentry Select Primary Metals Corp.inquiries and media inquiries)1-888-730-4623416-364-1197 (FAX)