Saba Capital Files Lawsuit Against ASA Gold And Precious Metals And Its Legacy Directors Over Latest Unlawful Poison Pill; Says "ASA's Poison Pill Has Remained in Continuous Effect for More Than 474 Days, Harming Shareholders and Violating Federal Law"

 ASA's Readoption of the Poison Pill Followed the Court's March 28th Ruling that the Pill Violates the Investment Company Act of 1940

ASA's Poison Pill Has Remained in Continuous Effect for More Than 474 Days, Harming Shareholders and Violating Federal Law

Saba Believes the Anti-Shareholder Actions and Unlawful Steps Taken by Chair Mary Joan Hoene and Director William Donovan Underscore the Need for Immediate Board Change

Saba Capital Management, L.P. (together with certain of its affiliates, "Saba"), the largest common shareholder of ASA Gold and Precious Metals Limited (NYSE:ASA) ("ASA" or the "Fund") with 17.2% ownership of the Fund's outstanding shares, today announced that it has filed a lawsuit in the United States District Court for the Southern District of New York (the "Court") against ASA and the legacy members of its Board of Directors (the "Board") – Mary Joan Hoene and William Donovan – regarding their readoption of an unlawful shareholder rights plan after the Court ruled that the previous shareholder rights plan violated the Investment Company Act of 1940 (the "'40 Act").