ASA Gold and Precious Metals Limited Announces Resignation of Axel Merk as Chief Operating Officer of the Fund

PORTLAND, Maine--(BUSINESS WIRE)--ASA Gold and Precious Metals Limited (NYSE: ASA) (the “Fund”), a registered closed-end management investment company listed on the New York Stock Exchange, today announced that Axel Merk has resigned from his position as Chief Operating Officer of the Fund, effective immediately.

Mr. Merk submitted his resignation letter to the Board of Directors of the Fund this morning without prior notice. Also without prior notice to the Fund or the Board, Mr. Merk announced his resignation through a press release, which included a copy of his resignation letter. In that letter, Mr. Merk expressed concerns regarding what he perceives to be potential risks to the Fund’s control environment.

Despite Mr. Merk’s actions, the Fund’s control environment is sound. Further, the Board takes its governance responsibilities seriously, including seeking to ensure operational and control environment continuity through any changes to management.

The Board will provide further updates regarding the potential transition as appropriate.

About ASA Gold and Precious Metals Limited. ASA Gold and Precious Metals Limited is a publicly-traded registered closed-end management investment company. The Fund’s common shares trade on the New York Stock Exchange under the ticker symbol “ASA”.

Forward-Looking Statements. This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including but not limited to statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including uncertainty as to whether the Fund’s operational and control environment are, and will remain, sound and whether there will, in fact, be changes to management of the Fund. These factors are identified from time to time in the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website. The Fund undertakes no obligation to update such statements to reflect subsequent events, except as may be required by law.