Claymore Gold Bullion Trust announces warrant exercise and gold
fully-invested

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Dec. 2 /CNW/ - Claymore Investments, Inc. as manager of Claymore Gold Bullion Trust (the "Fund") is pleased to announce that the Fund has raised additional aggregate proceeds of $397,638,010 pursuant to the exercise of an aggregate 39,763,801 warrants (the "Warrants") for the purchase of units of the Fund (the "Fund Units") prior to the expiry thereof. Warrants not exercised by 4:00 p.m. on November 30, 2009 (Toronto Time) are void and of no value.

The proceeds of all warrant exercises are now fully invested in gold bullion. As at December 1, 2009, the Fund held 706,621 ounces of physical gold bullion at a weighted average cost of U.S.$1,058.28 per ounce on a fully-hedged basis.

As of close of business on December 1, 2009, the Fund Units were trading at a price of $10.52 per Fund Unit. The current fully-diluted net asset value ("NAV") per Fund Unit, as of close of business on December 1, 2009, was $10.88 per Fund Unit. The Fund has an automatic conversion feature whereby it will convert into an exchange-traded fund if, for a period of 10 consecutive trading days after November 28, 2009, the daily weighted average trading price of the Fund Units is greater than a discount of 2% of NAV per Fund Unit for that day.

As at December 1, 2009, the Fund has 83,056,301 Fund Units issued and outstanding. The Fund Units are listed on the Toronto Stock Exchange ("TSX") under the symbol CGL.UN.

About Claymore Gold Bullion Trust

The investment objective of the Fund is to replicate the performance of the price of gold bullion, less the Fund's expenses and fees. The Fund does not anticipate making regular distributions on its Fund Units.

The Fund invests in holdings of pure, gold bullion, in 400 troy ounce international bar sizes, and does not speculate with regard to short-term changes in gold prices. This strategy provides investors with the ability to get exposure to gold bullion in a convenient, tradable and secure manner without the associated inconvenience and high transaction, handling, storage, insurance and other costs typical of direct gold bullion investment. The Fund holds a nominal amount of cash for further gold bullion purchases and working capital purposes.

Given that gold bullion is priced in US dollars, the Fund hedges substantially all of the Fund's US dollar currency value back to the Canadian dollar, providing exposure to gold while reducing the currency risk for Canadian investors.

About Claymore Investments

Claymore Investments, Inc. is a leader in bringing intelligent, low cost exchange traded funds in Canada through its family of 24 ETFs and 3 closed-end funds across broad asset classes including core equity, global sectors, fixed income and commodities. Claymore Investments, Inc., which, as at November 30, 2009 had approximately $4.1 billion in assets under management, is a wholly-owned subsidiary of Claymore Group, Inc., a financial services and asset management company based in the Chicago, Illinois area. In aggregate, Claymore Group Inc. and its affiliates have approximately 175 employees providing supervisory, management, servicing or distribution services on approximately US$13.3 billion in assets as of September 30, 2009. Claymore Group and its associated entities, including Claymore Securities, Inc., Claymore Advisors, LLC and Claymore Investments, Inc. are wholly-owned subsidiaries of Guggenheim Partners, a diversified financial services firm based in Chicago and New York with a global network of offices throughout the United States, Europe and Asia. Guggenheim Partners' businesses include investment management, investment advisory, investment banking and capital markets services with more than $100 billion in assets under supervision.

For further information about any of the Claymore funds or Claymore Investments, Inc., please contact your financial advisor or visit our website at www.claymoreinvestments.ca

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

For more information investors should consult with their investment advisor or visit our website at www.claymoreinvestments.ca.

The securities being offered have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act"), as amended, and such securities may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

This press release is not an invitation nor is it intended to be an inducement to engage in investment activity for the purpose of Section 21 of the Financial Services and Markets Act 2000 ("FSMA") of the United Kingdom. This press release is in any event directed only at persons outside the United Kingdom or persons reasonably believed to be sufficiently expert to understand the risks involved and who are authorised or exempted persons within the meaning of the FSMA or any order made thereunder, or to persons to whom it can otherwise be lawfully directed, including in particular those persons falling within the following Articles of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended: Article 19 (Investment Professionals) and Article 49 (High Net Worth Companies). This press release is not intended to be distributed or passed on, directly, or indirectly, to any other class of persons in the United Kingdom and is being supplied to you solely for your information. In addition, this press release is not directed to the public in any Member State of the European Economic Area (including Members of the European Union plus Iceland, Liechtenstein and Norway) which has implemented Directive 2003/71/EC (the "Prospectus Directive") except (a) to legal entities which are authorised or regulated to operate in the financial markets or, if not so authorised or regulated, whose corporate purpose is solely to invest in securities; or (b) to any legal entity that has two or more of (i) an average of at least 250 employees during the last financial year; (ii) a balance sheet with a total balance of more than EUR 43,000,000; and (iii) an annual net turnover of more than EUR 50,000,000; in the case of (ii) and (iii) as shown in its last annual or consolidated accounts; or (c) in any other circumstances which do not require the publication of a prospectus pursuant to Article 3 of the Prospectus Directive.

SOURCE CLAYMORE INVESTMENTS, INC.

For further information: For further information: For media inquiries, please contact: Sara Beazely, (416) 813-2007, sbeazely@claymoreinvestments.ca or Som Seif, President, Claymore Investments, Inc., (866) 417-4640, info@claymoreinvestments.ca, www.claymoreinvestments.ca

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CLAYMORE INVESTMENTS, INC.

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