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September 7, 2011

Claymore Silver Bullion Trust Completes $38 Million Offering

Claymore Silver Bullion Trust (the “Fund”) has completed its follow-on offering (the “Offering”) of 1,477,580 U.S. dollar hedged units (the “Hedged Units”) at an offering price of $25.80 per Hedged Unit for gross proceeds of $38,121,564. The Hedged Units commenced trading on the Toronto Stock Exchange under the symbol “SVR.UN” on September 7, 2011. The Offering was made on a best efforts basis in each of the provinces and territories in Canada through a syndicate of investment dealers co-led by GMP Securities L.P., Canaccord Genuity Corp. and TD Securities Inc., and including BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Macquarie Private Wealth Inc., Haywood Securities Inc., Mackie Research Capital Corporation and Rothenberg Capital Management Inc.

Wildeboer Dellelce LLP acted for the Fund in connection with the Offering with a team that included Perry Dellelce, Ronald Schwass, Peter Simeon, Geoff Cher, Patrick Magee and Andrea Kim (corporate/securities) and Kevin Fritz (tax).