Claymore Silver Bullion Trust Files Preliminary Short Form Prospectus

TORONTO, ONTARIO--(Marketwire - Aug. 23, 2011) -

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

Claymore Investments, Inc. is pleased to announce that Claymore Silver Bullion Trust (TSX:SVR.UN) (the "Fund") has filed a preliminary short form prospectus in connection with a follow-on offering (the "Offering") of hedged trust units (the "Offered Units"). The Offered Units will provide investors with an exposure to physical silver bullion with substantially all of the US dollar ("USD") currency exposure hedged back to the Canadian dollar.

The Fund's investment objective is to replicate the performance of the price of silver bullion, less the Fund's expenses and fees. The net proceeds of the Offering will be used to purchase and hold additional physical silver bullion. All of the Fund's physical silver bullion is stored on an allocated basis in the vaults of The Bank of Nova Scotia, a Canadian Schedule I chartered bank, or an affiliate or a division thereof, or a sub-custodian. This strategy will provide investors with the ability to invest in silver bullion in a convenient, tradable and secure manner without the associated inconvenience and high transaction, handling, storage, insurance and other costs typical of direct silver bullion investment.

The Offering is being made on a best efforts agency 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.

About Claymore Investments

Claymore Investments, Inc. is a leader in bringing intelligent, low cost exchange-traded and closed-end funds to Canada through its family of 31 ETFs and two closed-end funds across broad asset classes including core equity, global sectors, fixed income and commodities. Claymore Investments, Inc., which, as at July 31, 2011 had approximately $6.6 billion in assets under management, is a wholly-owned subsidiary of Guggenheim Funds Services Group, Inc., a financial services and asset management company based in the Chicago, Illinois area and is an indirect subsidiary of Guggenheim Partners, LLC, ("Guggenheim") a global, diversified financial services firm with in excess of US$100 billion in assets under supervision. Guggenheim, through its affiliates, provides investment management, investment advisory, insurance, investment banking and capital markets services.

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

A preliminary short form prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The preliminary short form prospectus is still subject to completion or amendment. Copies of the preliminary short form prospectus may be obtained from your IIROC registered financial advisor. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final short form prospectus has been issued.