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        <fairValLevel>2</fairValLevel>
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        <name>Bannerman Energy Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Peninsula Energy Ltd</name>
        <lei>213800XBLFMYEQENEZ77</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Skyharbour Resources Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Devex Resources Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Encore Energy Corp</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Boss Energy Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Elevate Uranium Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Denison Mines Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Global Atomic Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Stallion Uranium Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Ur-energy Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Aura Energy Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cgn Mining Co Ltd</name>
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        <name>Atha Energy Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>State Street Institutional Treasury Plus Money Market Fund</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Future Fuels Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Atomic Eagle Ltd</name>
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        <name>Cosa Resources Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Myriad Uranium Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Western Uranium &amp; Vanadium Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Mega Uranium Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Laramide Resources Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="SECLEND"/>
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        <balance>0.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="6697363.75000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eagle Nuclear Energy Corp</name>
        <lei>N/A</lei>
        <title>Eagle Nuclear Energy Corp.</title>
        <cusip>269710109</cusip>
        <identifiers>
          <isin value="US2697101093"/>
        </identifiers>
        <balance>465560.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4474031.60000000</valUSD>
        <pctVal>1.368647041775</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="2760904.95000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Energy Fuels Inc/canada</name>
        <lei>529900P0GCATXMGK8I62</lei>
        <title>Energy Fuels, Inc.</title>
        <cusip>292671708</cusip>
        <identifiers>
          <isin value="CA2926717083"/>
        </identifiers>
        <balance>2540950.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36843775.00000000</valUSD>
        <pctVal>11.27084655852</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>
    </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>
