Silver Bullion Trust ("SBT") announced that Jason A. Schwandt has been appointed as Lead Trustee and Chair of the Corporate Governance and Nominating Committee of the Board of Trustees of SBT. He is currently president of J.A. Schwandt Engineering Inc. and has served as a Trustee of SBT since 2012. Mr. Schwandt replaces Mr. Ian McAvity who stepped down as Lead Trustee of SBT and Chair of the Corporate Governance and Nominating Committee and as a member of the Special Committee of the Board of Trustees of SBT.

Mr. McAvity will continue to serve as a member of the Board of Trustees of SBT.