The Board's Special Committee Retains Financial Advisor to Assist in Company Review

ASA Gold and Precious Metals Limited (the "Company") (NYSE:ASA) announced that the Board of Directors approved the extension of the Company's Investment Advisory Agreement with Merk Investments LLC for a 90 day period, commencing April 1, 2026.

The Company also announced that, on March 31, 2026, in an effort to maximize risk-adjusted investment returns and shareholder value, the Board of Directors approved the engagement of Cantor Fitzgerald & Co. to assist the Company's Special Committee in its review of the Company.

Lastly, the Company announced today that it has declared a distribution of $0.04 per common share of the Company payable on May 13, 2026, to shareholders of record of the Company's common shares as of the close of business on May 1, 2026. This distribution represents a $0.01 per common share increase as compared to last year.

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.

Safe Harbor Statement and Other Disclosures

This press release contains "forward-looking" statements. Such forward-looking statements reflect current views with respect to future events and financial performance, and the Company may make related oral forward-looking statements on or following the date hereof. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including among other things, the Company's ability to pursue and implement a strategic alternative, its ability to maximize shareholder value and its future ability to pay any distribution to shareholders.

The Company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.

Dividends and other distributions may be discontinued at any time. Shareholders should not draw any conclusions about the Fund's investment performance from the amount of the Fund's current distributions, which are subject to change at any time in the discretion of the Fund's Board.

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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James Chekos

Corporate Secretary

(866) 251-6920 ext. 26318

james.chekos@acaglobal.com

ASA Gold and Precious Metals Limited Announces 90-Day Extension of Investment Advisory Agreement