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RYE, N.Y.–(BUSINESS WIRE)–The Board of Trustees of the GAMCO Natural Resources, Gold & Income
Trust (NYSE:GNT) (the “Fund”) approved the continuation of its policy of
paying monthly cash distributions. The Board of Trustees declared cash
distributions of $0.05 per share for each of July, August, and September
2019.

The distribution for July 2019 will be payable on July 24, 2019 to
common shareholders of record on July 17, 2019.

The distribution for August 2019 will be payable on August 23, 2019 to
common shareholders of record on August 16, 2019.

The distribution for September 2019 will be payable on September 23,
2019 to common shareholders of record on September 16, 2019.

Each quarter, the Board of Trustees reviews the amount of any potential
distribution from the income, realized capital gain, or capital
available. The Board of Trustees will continue to monitor the Fund’s
distribution level, taking into consideration the Fund’s net asset value
and the financial market environment. The distribution rate should not
be considered the dividend yield or total return on an investment in the
Fund.

The Fund makes annual distributions of its realized net long-term
capital gains and monthly cash distributions of all or a portion of its
investment company taxable income (which includes net investment income
and net realized short-term capital gains) to common shareholders. A
portion of the distribution may be a return of capital. Various factors
will affect the level of the Fund’s income, such as its asset mix and
use of covered call strategies. To permit the Fund to maintain more
stable distributions, the Fund may distribute more than the entire
amount of income earned in a particular period. Because the Fund’s
current monthly distributions are subject to modification by the Board
of Trustees at any time and the Fund’s income will fluctuate, there can
be no assurance that the Fund will pay distributions at a particular
rate or frequency.

If the Fund does not generate sufficient earnings (dividends and
interest income, less expenses, and realized net capital gain) equal to
or in excess of the aggregate distributions paid by the Fund in a given
year, then the amount distributed in excess of the Fund’s earnings would
be deemed a return of capital. Since this would be considered a return
of a portion of a shareholder’s original investment, it is generally not
taxable and would be treated as a reduction in the shareholder’s cost
basis. It is expected that the distributions to date will be treated for
tax purposes as a return of capital.

Short-term capital gains, qualified dividend income, ordinary income,
and return of capital, if any, will be allocated on a pro-rata basis to
all distributions to common shareholders for the year. Based on the
accounting records of the Fund currently available, each of the
distributions paid to common shareholders in 2019 would include
approximately 2% from net investment income and 98% would be deemed a
return of capital on a book basis. There are no capital loss
carryforwards for book purposes. Therefore the Fund, on a book basis,
may be distributing short term gains generated from option premiums that
will not be taxable in 2019 because of the capital loss carryforwards
available on a tax basis. The estimated components of each distribution
are updated and provided to shareholders of record in a notice
accompanying the distribution and are available on our website (www.gabelli.com).
The final determination of the sources of all distributions in 2019 will
be made after year end and can vary from the monthly estimates.
Shareholders should not draw any conclusions about the Fund’s investment
performance from the amount of the current distribution. All individual
shareholders with taxable accounts will receive written notification
regarding the components and tax treatment for all 2019 distributions in
early 2020 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks,
charges, and expenses of the Fund before investing.
More
information regarding the Fund’s distribution policy and other
information about the Fund is available by calling 800-GABELLI
(800-422-3554) or visiting
www.gabelli.com.

The Fund’s NAV per share will fluctuate with changes in the market
value of the Fund’s portfolio securities.
Stocks are subject to
market, economic, and business risks that cause their prices to
fluctuate.
Investors acquire shares of the Fund on a securities
exchange at market value, which fluctuates according to the dynamics of
supply and demand.
When Fund shares are sold, they may be worth
more or less than their original cost.
Consequently, you can lose
money by investing in the Fund.

Covered Call and Other Option Transaction Risks. There are
several risks associated with writing covered calls and entering into
other types of option transactions. For example, there are significant
differences between the securities and options markets that could result
in an imperfect correlation between these markets, resulting in a given
transaction not achieving its objectives. In addition, a decision as to
whether, when, and how to use covered call options involves the exercise
of skill and judgment, and even a well-conceived transaction may be
unsuccessful because of market behavior or unexpected events. As the
writer of a covered call option, the Fund forgoes, during the option’s
life, the opportunity to profit from increases in the market value of
the security covering the call option above the exercise price of the
call option, but has retained the risk of loss should the price of the
underlying security decline.

The GAMCO Natural Resources, Gold & Income Trust is a non-diversified,
closed-end management investment company with $152 million in total net
assets whose primary investment objective is to provide a high level of
current income. The Fund invests primarily in equity securities of
natural resources and gold companies and intends to earn income
primarily through a strategy of writing (selling) primarily covered call
options on equity securities in its portfolio. The Fund is managed by
Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).

Contacts

For information:
Molly Marion
David Schachter
(914)
921-5070