The Gabelli Global Gold, Natural Resources & Income Trust Issues $100 Million of 6.625% Series a Cumulative Preferred Shares

The Gabelli Global Gold, Natural Resources & Income Trust (Amex:GGN) is pleased to announce the completion of an offering of 6.625% Series A Cumulative Preferred Shares valued at $100 million. The proceeds raised will be used for investment purposes. The 6.625% Series A Cumulative Preferred Shares are rated "Aaa” by Moody’s Investors Service, Inc. The 6.625% Series A Cumulative Preferred Shares are perpetual, non-callable for five years, and were issued at $25 per share. Distributions will be paid quarterly beginning on December 26, 2007. The 6.625% Series A Cumulative Preferred Shares will begin trading on the American Stock Exchange under the symbol "GGN Pr A” on October 18, 2007. Citi, Merrill Lynch & Co., and Gabelli & Company, Inc. served as underwriters for the offering, which closed on October 16, 2007. The Gabelli Global Gold, Natural Resources & Income Trust is a non-diversified, closed-end management investment company with $638 million in total assets, after giving effect to the issuance of the 6.625% Series A Cumulative Preferred Shares. The Fund’s primary investment objective is to provide a high level of current income. The Fund invests primarily in equity securities of Gold and natural resources companies and intends to earn income primarily through a strategy of writing (selling) covered call options on equity securities in its portfolio. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.