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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="42108.80000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Denison Mines Corp</name>
        <lei>529900JWGSW17LJK6586</lei>
        <title>Denison Mines Corp.</title>
        <cusip>248356107</cusip>
        <identifiers>
          <isin value="CA2483561072"/>
        </identifiers>
        <balance>19402291.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35312169.62000000</valUSD>
        <pctVal>11.48908564398</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>Global Atomic Corp</name>
        <lei>529900EY4VQEZUOEO166</lei>
        <title>Global Atomic Corp.</title>
        <cusip>37957M106</cusip>
        <identifiers>
          <isin value="CA37957M1068"/>
        </identifiers>
        <balance>8892685.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.36175000"/>
        <valUSD>4048808.30000000</valUSD>
        <pctVal>1.317310882207</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>Ur-energy Inc</name>
        <lei>5493004ZEMNWEC7T6X93</lei>
        <title>Ur-Energy, Inc.</title>
        <cusip>91688R108</cusip>
        <identifiers>
          <isin value="CA91688R1082"/>
        </identifiers>
        <balance>9729054.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10215506.70000000</valUSD>
        <pctVal>3.323693577483</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>Aura Energy Ltd</name>
        <lei>5493003D06RIWBKIKA27</lei>
        <title>Aura Energy, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000AEE7"/>
        </identifiers>
        <balance>16306978.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51941000"/>
        <valUSD>1878177.15000000</valUSD>
        <pctVal>0.611079363379</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="460565.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cgn Mining Co Ltd</name>
        <lei>529900LQYG057CZAZT41</lei>
        <title>CGN Mining Co., Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2029E1052"/>
        </identifiers>
        <balance>47973800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84995000"/>
        <valUSD>14850583.00000000</valUSD>
        <pctVal>4.831751257036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="13365488.31000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Atha Energy Corp</name>
        <lei>984500456F2FA62CBC64</lei>
        <title>Atha Energy Corp.</title>
        <cusip>046824108</cusip>
        <identifiers>
          <isin value="CA0468241082"/>
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        <balance>9062627.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.36175000"/>
        <valUSD>4059630.97000000</valUSD>
        <pctVal>1.320832121028</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>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>42281.55000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42281.55000000</valUSD>
        <pctVal>0.013756627087</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>Uranium Royalty Corp</name>
        <lei>5493005KEPCD7QSX6305</lei>
        <title>Uranium Royalty Corp.</title>
        <cusip>91702V101</cusip>
        <identifiers>
          <isin value="CA91702V1013"/>
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        <balance>3268598.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8171495.00000000</valUSD>
        <pctVal>2.658658669367</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>Western Uranium &amp; Vanadium Corp</name>
        <lei>549300B2LQ6T4OJHXL41</lei>
        <title>Western Uranium &amp; Vanadium Corp.</title>
        <cusip>95985D100</cusip>
        <identifiers>
          <isin value="CA95985D1006"/>
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        <balance>1597851.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.36175000"/>
        <valUSD>938704.46000000</valUSD>
        <pctVal>0.305414706923</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>Uranium Energy Corp</name>
        <lei>549300VD69WD2USLIP04</lei>
        <title>Uranium Energy Corp.</title>
        <cusip>916896103</cusip>
        <identifiers>
          <isin value="US9168961038"/>
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        <balance>5280874.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35909943.20000000</valUSD>
        <pctVal>11.68357587016</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mega Uranium Ltd</name>
        <lei>529900ETMWH20UOMS233</lei>
        <title>Mega Uranium, Ltd.</title>
        <cusip>58516W104</cusip>
        <identifiers>
          <isin value="CA58516W1041"/>
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        <balance>11400784.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.36175000"/>
        <valUSD>2344203.80000000</valUSD>
        <pctVal>0.762704713841</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>Laramide Resources Ltd</name>
        <lei>2549000L2B3P9LPA0G54</lei>
        <title>Laramide Resources, Ltd.</title>
        <cusip>51669T101</cusip>
        <identifiers>
          <isin value="CA51669T1012"/>
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        <balance>6617531.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.36175000"/>
        <valUSD>3110130.23000000</valUSD>
        <pctVal>1.011904761472</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>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"/>
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        <balance>0.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1127443.05000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </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>2530842.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14552341.50000000</valUSD>
        <pctVal>4.734716094004</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>2025-07-30</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>
