PME Sentry Select Primary Metals Corp

Sentry Select Primary Metals Corp. (the "Corporation") (TSX: PME) is pleased to announce that the Board of Directors of the Corporation (the "Board") has approved an increase in the monthly cash dividend per Class A share from $0.05 to $0.07. As the Corporation has available tax losses, the dividends are expected to be treated as a return of capital for tax purposes.

The dividend increase will be effective February 26, 2010, and will remain as such until further guidance is provided by the Corporation. Based on the net asset value per Class A share on January 27, 2010 of approximately $7.70, the dividend represents a cash-on-cash yield of 10.9%.

The Corporation also advises that a Special Meeting of Shareholders (the "Meeting"), to consider the Proposal (as defined below) as announced on November 20, 2009, will be held on March 25, 2010. A management information circular containing details of the Proposal will be sent in due course to the Corporation's shareholders of record as of February 22, 2010. The Proposal to be considered by shareholders is as follows:

a. amend the management agreement between the Corporation and Sentry Select
   Capital Inc., the manager of the Corporation (the "Manager"), to reduce
   the annual management fee payable to the Manager from 1.60% of the
   Corporation's net asset value, to 1.10%;
b. amend the management agreement to eliminate the Manager's right to
   receive a performance fee;
c. amend the management agreement to eliminate the Manager's right to
   receive a termination fee;
d. amend the Corporation's articles of amendment to implement an unlimited
   annual redemption right at the net asset value per Class A Share,
   subject to a declining redemption fee schedule (the "Redemption Fee");
   and
e. amend the Corporation's articles of amendment to terminate the
   Corporation's mandatory market purchase program (collectively, the
   "Proposal").

The Proposal remains subject to review by the Corporation's Independent Review Committee and applicable regulatory approvals.

Sentry Select Primary Metals Corp.

Sentry Select Primary Metals Corp.'s investment objective is to provide shareholders with long- term capital appreciation. The Corporation is invested in an actively managed portfolio consisting primarily of securities of mining and exploration issuers, with a current focus on gold and silver issuers.

Sentry Select Capital Inc.

Sentry Select Capital Inc., the manager of the Corporation, is a Canadian wealth management company that offers a diverse range of investment products including closed-end investment funds, mutual funds, principal-protected notes and flow-through limited partnerships, 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 Corporation. The forward-looking statements are not historical facts but reflect the Corporation'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, including the ability of the Corporation to pay the indicated dividends on the dates specified and the failure to receive all required regulatory and shareholder approvals to implement the Proposal. Although the Corporation 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. Sentry Select undertakes 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 Corporation, please visit the Corporation's profile at www.sedar.com.

The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615

Contacts: Sentry Select Capital Inc. Investor Services (broker/investor/media inquiries) 1-888-730-4623 416-364-1197 (FAX) info@sentryselect.com www.sentryselect.com