Market Overview

ASA Gold and Precious Metals Limited Reports Financial Results for the Six Months Ended May 31, 2018

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ASA
Gold and Precious Metals Limited
(the "Company") (NYSE:ASA) reported
that the total return for the six months ended May 31, 2018, based on
the Company's net asset value (NAV), was negative 4.1%, including the
reinvestment of distributions paid on the Company' shares. On May 31,
2018, the NAV of the Company was $12.11 per share versus $13.49 per
share on May 31, 2017.

For the six months ended May 31, 2018, the total return based on the
Company's share price was negative 5.7%, including the reinvestment of
distributions paid on the Company's shares. The return for the FTSE Gold
Mines Total Return Index during the same period was negative 1.1%.

The closing price of the Company's shares on the New York Stock Exchange
(NYSE) on May 31, 2018 was $10.40, representing a share price discount
to NAV of 14.1%. The share price of closed-end funds, such as the
Company, is determined by trading activity in the open market and
consequently may reflect a premium (higher than) or discount (lower
than) to its underlying NAV.

           

Six Months Ended

Year Ended

Six Months Ended

May 31, 2018

November 30, 2017

May 31, 2017

           

Amount*

Per Share

Amount*

Per Share

Amount*

Per Share

Net assets $233,624 $12.11 $244,202 $ 12.66 $260,143 $13.49
 
Net investment income (loss) $(567) $(0.03) $ (1,669) $ (0.09) $(699) $(0.04)
 
Ending shares outstanding 19,290 19,290 19,290
*000 omitted
 

The Company is a non-diversified, closed-end, internally managed fund
that seeks long-term capital appreciation primarily through investing in
companies engaged in the exploration for, development of projects or
mining of precious metals and minerals.

It is a fundamental policy of the Company that at least 80% of its total
assets must be (i) invested in common shares or securities convertible
into common shares of companies engaged, directly or indirectly, in the
exploration, mining or processing of gold, silver, platinum, diamonds or
other precious minerals, (ii) held as bullion or other direct forms of
gold, silver, platinum or other precious minerals, (iii) invested in
instruments representing interests in gold, silver, platinum or other
precious minerals such as certificates of deposit therefor, and/or (iv)
invested in securities of investment companies, including exchange
traded funds, or other securities that seek to replicate the price
movement of gold, silver or platinum bullion.

The Company employs bottom-up fundamental analysis and relies on
detailed primary research including meetings with company executives,
site visits to key operating assets, and proprietary financial analysis
in making its investment decisions.

Investors are encouraged to visit the Company's website for additional
information, including historical and current share prices, news
releases, financial statements, tax and supplemental information. The
site may be found at www.asaltd.com,
or you may contact the Company directly at (800) 432-3378.

Certain Tax Information

The Company is a "passive foreign investment company" for United States
federal income tax purposes. As a result, United States shareholders
holding shares in taxable accounts are encouraged to consult their tax
advisors regarding the tax consequences of their investment in the
Company's common shares.

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