Central GoldTrust Enters Into Definitive Agreement for ETF with Purpose; DO NOT TENDER to Sprott's Offer & WITHDRAW your Units if Tendered - Seite 3

At this critical juncture, the future of GoldTrust is in your hands. The only way to ensure that you have a chance to review and approve the unanimously recommended ETF conversion is to reject the Sprott offer. If you have tendered your GoldTrust units to Sprott, withdraw them immediately and thus revoke your power of attorney before December 7^th. Time is of the essence - contact your broker or D.F. King immediately for instructions on how to withdraw your units and preserve your right to consider the superior alternative.

We thank unitholders for their patience and their continued support of Central GoldTrust.

Sincerely,

Bruce Heagle, Chair of the Special Committee of the Board of Trustees

J.C. Stefan Spicer, Founder, Chairman and CEO

For up to date information we strongly encourage unitholders to please visit www.gold-trust.com or www.goldtrust.ca

Unitholders who have already tendered to Sprott's offer can withdraw their units by contacting D.F. King & Co at 1-800-251-7519, or via email at [e-mail]

About Central GoldTrust

GoldTrust (established on April 28, 2003) is a passive, self-governing, single purpose trust, which invests primarily in long-term holdings of gold bullion and does not speculate in gold prices. At November 27, 2015, the GoldTrust units were 99.9% invested in unencumbered, allocated and physically segregated gold bullion. Units may be purchased or sold on the Toronto Stock Exchange and NYSE MKT.

Additional Information and Where to Find It

The recommendation of the Trustees described herein with respect to Sprott's offer is contained in the Trustees' Circular dated June 9, 2015, which has been filed with Canadian securities regulatory authorities and is also contained in the solicitation/recommendation statement filed with the Securities and Exchange Commission ("SEC"). Unitholders are urged to read the Trustees' Circular and the solicitation/recommendation statement and other relevant materials because they contain important information. The Trustees' Circular and other filings made by GoldTrust with Canadian securities regulatory authorities since 2003 may be obtained without charge at http://www.sedar.com and at the investor relations section of the GoldTrust website at http://www.gold-trust.com/news.htm. The solicitation/recommendation statement and other SEC filings made by GoldTrust may be obtained without charge at the SEC's website at http://www.sec.gov and at the investor relations section of the GoldTrust website at http://www.goldtrust.com/news.htm.