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          <loanByFundCondition isLoanByFund="Y" loanVal="3143927.38000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Skeena Resources Ltd</name>
        <lei>549300DCWSQFVVZ21289</lei>
        <title>Skeena Resources, Ltd.</title>
        <cusip>83056P715</cusip>
        <identifiers>
          <isin value="CA83056P7157"/>
        </identifiers>
        <balance>383549.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.43905000"/>
        <valUSD>3867340.25000000</valUSD>
        <pctVal>2.694816047562</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="54448.42000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Endeavour Silver Corp</name>
        <lei>549300IF2E29780PPV02</lei>
        <title>Endeavour Silver Corp.</title>
        <cusip>29258Y103</cusip>
        <identifiers>
          <isin value="CA29258Y1034"/>
        </identifiers>
        <balance>1157720.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.43905000"/>
        <valUSD>4939648.24000000</valUSD>
        <pctVal>3.442015050645</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="3222765.26000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Westgold Resources Ltd</name>
        <lei>2549003AMX9BL7CKBQ74</lei>
        <title>Westgold Resources, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000WGX6"/>
        </identifiers>
        <balance>3425444.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.60038000"/>
        <valUSD>6164335.17000000</valUSD>
        <pctVal>4.295393801636</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="4555167.36000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bellevue Gold Ltd</name>
        <lei>N/A</lei>
        <title>Bellevue Gold, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000019374"/>
        </identifiers>
        <balance>6430262.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.60038000"/>
        <valUSD>4600563.61000000</valUSD>
        <pctVal>3.205736201788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1700762.45000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seabridge Gold Inc</name>
        <lei>9845003FEO1A66376A92</lei>
        <title>Seabridge Gold, Inc.</title>
        <cusip>811916105</cusip>
        <identifiers>
          <isin value="CA8119161054"/>
        </identifiers>
        <balance>474191.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5533808.97000000</valUSD>
        <pctVal>3.856034445508</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1535351.88000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>West African Resources Ltd</name>
        <lei>529900XLO8GMJNTUL013</lei>
        <title>West African Resources, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000WAF6"/>
        </identifiers>
        <balance>3295917.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.60038000"/>
        <valUSD>4777944.89000000</valUSD>
        <pctVal>3.329337925190</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>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"/>
        </identifiers>
        <balance>39995.99000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39995.99000000</valUSD>
        <pctVal>0.027869757694</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Regis Resources Ltd</name>
        <lei>213800XH9YUXBLYBD749</lei>
        <title>Regis Resources, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000RRL8"/>
        </identifiers>
        <balance>2722520.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.60038000"/>
        <valUSD>6668590.21000000</valUSD>
        <pctVal>4.646765671193</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>Firefinch Ltd</name>
        <lei>52990065EGEF8FEI8S51</lei>
        <title>Firefinch, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000114522"/>
        </identifiers>
        <balance>6635363.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.60038000"/>
        <valUSD>290228.20000000</valUSD>
        <pctVal>0.202235014313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="78668.40000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vault Minerals Ltd</name>
        <lei>5299008TF8KHQ8CIQG34</lei>
        <title>Vault Minerals, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000355588"/>
        </identifiers>
        <balance>18023850.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.60038000"/>
        <valUSD>5011693.00000000</valUSD>
        <pctVal>3.492216833483</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>Novagold Resources Inc</name>
        <lei>529900587LVZTJ2BHS60</lei>
        <title>Novagold Resources, Inc.</title>
        <cusip>66987E206</cusip>
        <identifiers>
          <isin value="CA66987E2069"/>
        </identifiers>
        <balance>1143199.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3338141.08000000</valUSD>
        <pctVal>2.326062764043</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>Greatland Gold Plc</name>
        <lei>213800KMN7LDF4VRPQ10</lei>
        <title>Greatland Gold PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B15XDH89"/>
        </identifiers>
        <balance>37693488.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414000"/>
        <valUSD>5833156.61000000</valUSD>
        <pctVal>4.064624011443</pctVal>
        <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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>State Street Navigator Securities Lending Government Money Market Portfolio</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SECLEND"/>
        </identifiers>
        <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="12231193.85000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-04-30</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>
  <documents>XXXX</documents>
</edgarSubmission>
