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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ucore Rare Metals Inc</name>
        <lei>54930010QPKRBHZWKG15</lei>
        <title>Ucore Rare Metals, Inc.</title>
        <cusip>90348V301</cusip>
        <identifiers>
          <isin value="CA90348V3011"/>
        </identifiers>
        <balance>297763.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.41825000"/>
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        <pctVal>1.836001057114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Critica Ltd</name>
        <lei>529900J4ZSZJ1KVKZF44</lei>
        <title>Critica, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000352627"/>
        </identifiers>
        <balance>8483074.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44436000"/>
        <valUSD>99845.09000000</valUSD>
        <pctVal>0.178555339374</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Astron Ltd</name>
        <lei>984500AA4D55CDC1FA52</lei>
        <title>Astron, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000ATR7"/>
        </identifiers>
        <balance>54222.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44436000"/>
        <valUSD>20834.98000000</valUSD>
        <pctVal>0.037259688230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Realloys Inc</name>
        <lei>52990036IORVY1M2MY73</lei>
        <title>REalloys, Inc.</title>
        <cusip>75606V101</cusip>
        <identifiers>
          <isin value="US75606V1017"/>
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        <balance>169882.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2454794.90000000</valUSD>
        <pctVal>4.389967863860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Northern Minerals Ltd/australia</name>
        <lei>529900P1SN3GV8TH5097</lei>
        <title>Northern Minerals, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000NTU4"/>
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        <balance>23091959.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44436000"/>
        <valUSD>399691.89000000</valUSD>
        <pctVal>0.714778473975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State Street Institutional Treasury Plus Money Market Fund</name>
        <lei>549300PNASLVKQG64331</lei>
        <title>State Street Institutional Treasury Plus Money Market Fund</title>
        <cusip>857492862</cusip>
        <identifiers>
          <isin value="US8574928623"/>
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        <balance>40510.04000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40510.04000000</valUSD>
        <pctVal>0.072445064051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Viridis Mining And Minerals Ltd</name>
        <lei>529900K7XOK6MDZ0CA55</lei>
        <title>Viridis Mining and Minerals, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000190829"/>
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        <balance>360655.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44436000"/>
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        <pctVal>1.571829005944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ramaco Resources Inc</name>
        <lei>5493001BYUI4TCQOPF70</lei>
        <title>Ramaco Resources, Inc.</title>
        <cusip>75134P600</cusip>
        <identifiers>
          <isin value="US75134P6007"/>
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        <balance>15554.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>205779.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Avalon Advanced Materials Inc</name>
        <lei>254900Z9B2T6649CZP63</lei>
        <title>Avalon Advanced Materials, Inc.</title>
        <cusip>05337L304</cusip>
        <identifiers>
          <isin value="CA05337L3048"/>
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        <balance>311796.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.41825000"/>
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        <pctVal>0.019657754686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Neo Performance Materials Inc</name>
        <lei>984500E2A5I396CB6D96</lei>
        <title>Neo Performance Materials, Inc.</title>
        <cusip>64046G106</cusip>
        <identifiers>
          <isin value="CA64046G1063"/>
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        <balance>117580.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.41825000"/>
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        <pctVal>5.512342288402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Niocorp Developments Ltd</name>
        <lei>5299001QL26XJPOD3A17</lei>
        <title>NioCorp Developments, Ltd.</title>
        <cusip>654484609</cusip>
        <identifiers>
          <isin value="CA6544846091"/>
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        <balance>404470.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1949545.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Victory Metals Ltd</name>
        <lei>391200PV81UOKD0FZ075</lei>
        <title>Victory Metals, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000252645"/>
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        <balance>346809.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44436000"/>
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        <pctVal>0.697773393462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Arafura Rare Earths Ltd</name>
        <lei>52990098Y7ZDAOS75K52</lei>
        <title>Arafura Rare Earths, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000ARU5"/>
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        <balance>10932856.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>American Rare Earths Ltd</name>
        <lei>5299000NZYD6VHPGDR70</lei>
        <title>American Rare Earths, Ltd.</title>
        <cusip>N/A</cusip>
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        <balance>1374147.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>NZ</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Aclara Resources Inc</name>
        <lei>549300V8ITKL5RQLZQ44</lei>
        <title>Aclara Resources, Inc.</title>
        <cusip>00461M103</cusip>
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        <balance>198631.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kendrick Resources Plc</name>
        <lei>213800U66STYS4VQZH68</lei>
        <title>Kendrick Resources PLC</title>
        <cusip>N/A</cusip>
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          <isin value="GB00BNBQZW49"/>
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        <balance>104470.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75389000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>St George Mining Ltd</name>
        <lei>529900ML6RD42UF68N93</lei>
        <title>St George Mining, Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="AU000000SGQ8"/>
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        <balance>9775596.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lindian Resources Ltd</name>
        <lei>984500CHDBDE3657BC83</lei>
        <title>Lindian Resources, Ltd.</title>
        <cusip>N/A</cusip>
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        <balance>3713892.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44436000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Iluka Resources Ltd</name>
        <lei>2549009N2Y1F4YNB0955</lei>
        <title>Iluka Resources, Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="AU000000ILU1"/>
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        <balance>515112.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Defense Metals Corp</name>
        <lei>54930072WL7JZREIPD69</lei>
        <title>Defense Metals Corp.</title>
        <cusip>244633103</cusip>
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          <isin value="CA2446331035"/>
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        <balance>1017522.00000000</balance>
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        <pctVal>0.192454656025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Idaho Strategic Resources Inc</name>
        <lei>N/A</lei>
        <title>Idaho Strategic Resources, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>191456.50000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Energy Fuels Inc/canada</name>
        <lei>529900P0GCATXMGK8I62</lei>
        <title>Energy Fuels, Inc.</title>
        <cusip>292671708</cusip>
        <identifiers>
          <isin value="CA2926717083"/>
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        <balance>85018.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1232761.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>SPROTT FUNDS TRUST</ncom:nameOfApplicant>
      <ncom:signature>Thomas W. Ulrich</ncom:signature>
      <ncom:signerName>Thomas W. Ulrich</ncom:signerName>
      <ncom:title>Chief Compliance Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
