Sprott Physical Bullion Trusts Give Unitholders Access to Direct Registration System

TORONTO, ON--(Marketwired - October 11, 2017) - Each of the Sprott Physical Gold Trust (NYSE ARCA: PHYS) (TSX: PHYS), the Sprott Physical Silver Trust (NYSE ARCA: PSLV) (TSX: PSLV) and the Sprott Physical Platinum and Palladium Trust (NYSE ARCA: SPPP) (TSX: SPPP) announce today that effective October 5, 2017, unitholders of each of these trusts will be able to hold their units through the Direct Registration System (DRS) with the trusts' transfer agent. References to "trust" shall mean the Sprott Physical Gold Trust, the Sprott Physical Silver Trust or the Sprott Physical Platinum and Palladium Trust, as applicable, and references to "trusts" shall mean all three trusts collectively.

DRS is the electronic or book-entry form of security ownership offered by and only through transfer agents and allows a unitholder to hold trust units in that holder's name directly as opposed to electronic security ownership through a broker. If a holder holds units of a trust through DRS, that ownership is evidenced on the books and records of the trust directly, as opposed to holding units of a trust through a broker, who in turn is registered on the books of the trust.

DRS holders will not receive an actual certificate but will instead receive an annual DRS statement directly from the transfer agent. Before a unitholder holding units through DRS can trade the units on NYSE Arca or TSX, the holder will first have to instruct the transfer agent to move the units from DRS to the holder's brokerage account.

If a unitholder desires to redeem units for bullion, and such unitholder holds his, her or its units through DRS, the holder first has to request and then receive a unit certificate before engaging in the redemption process. This process is identical to the process described in the current prospectus and annual information form of each of the trusts, which are available at www.sprottphysicalbullion.com.

The option to hold units through DRS will not be available for investors purchasing units in an offering conducted by one of the trusts, but will be available to such investors after the offering is concluded.

Unitholders interested in holding their units through DRS should contact the trusts' transfer agents as follows:

About Sprott Asset Management LP and the Trusts

Sprott Asset Management LP is the investment manager to the Sprott Physical Gold Trust, Sprott Physical Silver Trust and the Sprott Physical Platinum and Palladium Trust. Important information about each of the trusts, including its investment objectives and strategies, applicable management fees, and expenses, is contained in the current annual information form for such trust, which can be found on www.sprottphysicalbullion.com, in the U.S. on www.sec.gov and in Canada on www.sedar.com. Commissions, management fees, or other charges and expenses may be associated with investing in any of the trusts. The performance of the investment funds is not guaranteed, their values change frequently and past performance is not an indication of future results. To learn more about Sprott Physical Gold Trust, Sprott Physical Silver Trust or Sprott Physical Platinum and Palladium Trust, please visit sprottphysicalbullion.com.

Except for statements of historical fact contained herein, information in this press release may constitute "forward-looking information" within the meaning of applicable securities laws. Other than statements of historical fact, all statements that involve various known and unknown risks, uncertainties and other factors are "forward-looking statements". There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements.