The Gabelli Global Gold, Natural Resources & Income Trust

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1 The Gabelli Global Gold, Natural Resources & Income Trust To Our Shareholders, First Quarter Report March 31, 2006 The Gabelli Global Gold, Natural Resources & Income Trust s (Trust) net asset value (NAV) rose 6.85% in the first quarter of 2006, compared to gains of 4.17%, 10.86%, and 8.59% for the Chicago Board Options Exchange S&P 500 BuyWrite Index, Philadelphia Gold & Silver Index, and the Amex Energy Select Sector Index, respectively, and a decline of (1.01)% for the Lehman Brothers Government/Corporate Bond Index. The Trust s market price, adjusted for distributions, was up 6.54% during the first quarter. On March 31, 2006, the Trust s market price closed at $22.80 on the American Stock Exchange, representing a discount of 1.13% to its NAV of $23.06 at the end of the quarter. Enclosed is the investment portfolio as of March 31, Comparative Results Average Annual Returns through March 31, 2006 (a) Since Quarter 1 Year Inception (3/31/05) Gabelli Global Gold, Natural Resources & Income Trust NAV Return (b) % 30.33% 30.24% Investment Return (c) CBOE S&P 500 BuyWrite Index (BXM) Philadelphia Gold & Silver Index Amex Energy Select Sector Index Lehman Brothers Gov t/corporate Bond Index (1.01) (d) (a) Returns represent past performance and do not guarantee future results. Investment returns and the principal value of an investment will fluctuate. When shares are sold, they may be worth more or less than their original cost. Current performance may be lower or higher than the performance data presented. Visit for performance information as of the most recent month end. Performance returns for less than one year are not annualized. Investors should consider the investment objectives, risks, charges, and expenses of the Trust carefully before investing. The CBOE S&P 500 BuyWrite Index is an unmanaged benchmark index designed to reflect the return on a portfolio that consists of a long position in the stocks in the S&P 500 index and a short position in an S&P 500 (SPX) call option. The Philadelphia Gold & Silver Index is an unmanaged indicator of stock market performance of large North American gold and silver companies, while the Amex Energy Select Sector Index is an unmanaged indicator of stock market performance of large U.S. companies involved in the development or production of energy products. The Lehman Brothers Government/Corporate Bond Index is an unmanaged market value weighted index that tracks the total return performance of fixed rate, publicly placed, dollar denominated obligations. Dividends and interest or income is considered reinvested. (b) Total returns and average annual returns reflect changes in NAV and reinvestment of distributions at NAV on the exdividend date, and are net of expenses. Since inception return is based on an initial NAV of $ (c) Total returns and average annual returns reflect changes in closing market values on the American Stock Exchange and reinvestment of distributions. Since inception return is based on an initial offering price of $ (d) From March 31, 2005, the date closest to the Trust s inception for which data was available. We have separated the portfolio manager s commentary from the financial statements and investment portfolio due to corporate governance regulations stipulated by the SarbanesOxley Act of We have done this to ensure that the content of the portfolio manager s commentary is unrestricted. The financial statements and investment portfolio are mailed separately from the commentary. Both the commentary and the financial statements, including the portfolio of investments, will be available on our website at

2 THE GABELLI GLOBAL GOLD, NATURAL RESOURCES & INCOME TRUST SCHEDULE OF INVESTMENTS March 31, 2006 (Unaudited) Market Shares COMMON STOCKS 94.9% Energy and Energy Services 37.1% 50,000 Alpha Natural Resources Inc $ 1,157, ,600 BG Group plc, ADR ,503, ,000 BJ Services Co ,120,800 71,000 BP plc, ADR ,894,740 71,000 Burlington Resources Inc. (e) ,525,610 99,600 Chevron Corp ,773,812 72,000 ConocoPhillips (e) ,546,800 47,000 Devon Energy Corp. (e) ,874,990 30,000 Diamond Offshore Drilling Inc ,685, ,500 Exxon Mobil Corp. (e) ,481, ,800 GlobalSantaFe Corp ,955, ,500 Halliburton Co. (e) ,017,970 30,000 James River Coal Co ,019,100 20,000 KerrMcGee Corp ,909,600 58,500 Marathon Oil Corp ,455, ,000 Murphy Oil Corp. (e) ,174,080 10,000 Nabors Industries Ltd , ,000 Noble Corp. (e) ,543,000 90,000 Rowan Companies Inc ,956,400 84,400 Suncor Energy Inc ,500,488 60,000 Tesoro Corp ,100,400 60,000 Total SA, ADR ,903,800 75,000 Transocean Inc ,022, ,000 Valero Energy Corp. (e) ,863, ,000 Weatherford International Ltd ,823, ,000 Williams Companies Inc ,272,670 74,500 XTO Energy Inc. (e) ,245, ,044,086 Metals and Mining 52.2% 471,900 AgnicoEagle Mines Ltd ,369, ,000 Anglo American plc ,780, ,000 AngloGold Ashanti Ltd., ADR ,388,600 50,000 Arch Coal Inc ,797, ,864 Barrick Gold Corp., New York (e)... 11,491, ,700 BHP Billiton Ltd., ADR ,889,595 25,000 Cameco Corp , ,828 Compania de Minas Buenaventura SA, ADR ,156, ,000 Eldorado Gold Corp ,931,755 35,000 Falconbridge Ltd ,226,750 98,000 FreeportMcMoRan Copper & Gold Inc., Cl. B (e) ,857, ,600 Glamis Gold Ltd ,647, ,000 Gold Fields Ltd ,051, ,500 Gold Fields Ltd., ADR ,298, ,000 Goldcorp Inc. (e) ,745, ,800 Golden Star Resources Ltd , ,200 Harmony Gold Mining Co. Ltd., ADR 10,849,216 7,000 Highland Gold Mining Ltd ,594 42,500 IAMGOLD Corp., Toronto ,736 2 Market Shares 64,100 Inco Ltd $ 3,197, ,701 Ivanhoe Mines Ltd., New York ,900,311 98,000 Ivanhoe Mines Ltd., Toronto , ,000 Kingsgate Consolidated Ltd ,040 1,087,800 Kinross Gold Corp. (e) ,889,654 4,015,000 Lihir Gold Ltd ,674, ,000 Meridian Gold Inc ,372,150 10,000 MMC Norilsk Nickel, ADR , ,000 Newcrest Mining Ltd ,205, ,400 Newmont Mining Corp. (e) ,130,366 40,000 Peabody Energy Corp ,016,400 26,000 Phelps Dodge Corp ,093, ,000 Randgold Resources Ltd., ADR ,502,260 8,993 Rio Tinto plc, ADR ,861,551 40,000 Teck Cominco Ltd., Cl. B ,573,618 78,519 Xstrata plc ,541, ,666,738 Mutual Funds 2.8% 190,000 Streettracks Gold Trust ,039,000 Paper and Forest Products 1.6% 100,000 Plum Creek Timber Co. Inc ,693,000 37,500 Weyerhaeuser Co ,716,125 6,409,125 Specialty Chemicals 1.2% 26,000 Dow Chemical Co ,055,600 90,000 E.I. du Pont de Nemours and Co ,798,900 4,033 Tronox Inc., Cl. B ,517 4,923,017 TOTAL COMMON STOCKS ,081,966 Principal Amount U.S. GOVERNMENT OBLIGATIONS 5.1% $20,521,000 U.S. Treasury Bills, 4.327% to 4.739%, 04/13/06 to 08/31/06 (e) ,382,884 TOTAL INVESTMENTS 100.0% (Cost $328,625,576) $399,464,850 For Federal tax purposes: Aggregate cost $328,625,576 Gross unrealized appreciation $ 73,126,714 Gross unrealized depreciation (2,287,440) Net unrealized appreciation (depreciation) $ 70,839,274

3 THE GABELLI GLOBAL GOLD, NATURAL RESOURCES & INCOME TRUST SCHEDULE OF INVESTMENTS (Continued) March 31, 2006 (Unaudited) OPTION CONTRACTS WRITTEN (6.1)% Number of Expiration Date/ Market Contracts Exercise Price Put Options Written (0.1)% 900 AgnicoEagle Mines Ltd. May 06/25 $ 31,500 18,000 Anglo Platinum Ltd.(d).. Jun. 06/479 22,734 1,314 AngloGold Ashanti Ltd., ADR Apr. 06/45 13,140 8,500 Impala Platinum Holdings Ltd.(d) Jun. 06/ ,329 1,500 Ivanhoe Mines Ltd Jun. 06/ , Phelps Dodge Corp Apr. 06/60 2,000 TOTAL PUT OPTIONS WRITTEN (Premiums received $393,033).... $ 135,203 Call Options Written (6.0)% 248 AgnicoEagle Mines Ltd. May 06/20 257,920 1,177 AgnicoEagle Mines Ltd. May 06/25 682, AgnicoEagle Mines Ltd. Aug. 06/25 274,800 1,536 AgnicoEagle Mines Ltd. Aug. 06/30 522,240 1,300 AgnicoEagle Mines Ltd. Nov. 06/30 533, Alpha Natural Resources Inc Jun. 06/ , Anglo American plc(b).. Jun. 06/ , Anglo American plc(b).. Jun. 06/2179 2, Anglo American plc(b).. Jun. 06/2278 1, AngloGold Ashanti Ltd., ADR... Apr. 06/45 420, AngloGold Ashanti Ltd., ADR... Apr. 06/50 235, AngloGold Ashanti Ltd., ADR... Jul. 06/50 211, AngloGold Ashanti Ltd., ADR... Jul. 06/55 129, Arch Coal Inc Apr. 06/75 40, Arch Coal Inc Apr. 06/80 9, Arch Coal Inc May 06/95 4, Arch Coal Inc Jul. 06/80 21, Barrick Gold Corp Apr. 06/25 88,000 1,000 Barrick Gold Corp Apr. 06/ ,000 1,598 Barrick Gold Corp Jul. 06/ ,640 1,220 Barrick Gold Corp Jul. 06/30 103,700 1,227 BHP Billiton Ltd., ADR.. May 06/40 203, BJ Services Co Apr. 06/ , BJ Services Co Apr. 06/35 20, BJ Services Co Apr. 06/ , BJ Services Co May 06/35 70, BJ Services Co Jul. 06/40 57, BP plc, ADR Apr. 06/70 42, BP plc, ADR Apr. 06/75 1, Burlington Resources Inc. May 06/85 288, Burlington Resources Inc. May 06/90 25,500 3 Number of Expiration Date/ Market Contracts Exercise Price 250 Burlington Resources Inc. May 06/95 $ 23, Chevron Corp Apr. 06/60 12, Chevron Corp Jun. 06/60 24, Chevron Corp Jun. 06/65 12, Compania de Minas Buenaventure SA, ADR Jul. 06/27 140, ConocoPhillips May 06/65 126, Devon Energy Corp..... Apr. 06/65 13, Devon Energy Corp..... Jul. 06/65 77, Diamond Offshore Drilling Inc Jun. 06/ , Dow Chemical Co Apr. 06/45 1, Dow Chemical Co Jun. 06/45 4, E.I. du Pont de Nemours & Co Apr. 06/ , E.I. du Pont de Nemours & Co Apr. 06/45 2, E.I. du Pont de Nemours & Co Jul. 06/45 26,000 4,000 Eldorado Gold Corp.(a).. Aug. 06/ , Exxon Mobil Corp Apr. 06/ , Exxon Mobil Corp Apr. 06/65 2, Exxon Mobil Corp Jul. 06/ , FreeportMcMoRan Copper & Gold Inc., Cl. B.... May 06/55 108, FreeportMcMoRan Copper & Gold Inc., Cl. B.... May 06/60 281,750 1,776 Glamis Gold Ltd May 06/30 692, Glamis Gold Ltd Jul. 06/ ,000 1,250 Glamis Gold Ltd Aug. 06/30 612, Glamis Gold Ltd Aug. 06/35 162, GlobalSantaFe Corp..... Apr. 06/65 12,420 1,650 GlobalSantaFe Corp..... Jul. 06/65 453, GlobalSantaFe Corp..... Oct. 06/65 18,480 3,588 Gold Fields Ltd., ADR.. Apr. 06/20 681, Gold Fields Ltd., ADR.. Apr. 06/ , Gold Fields Ltd., ADR.. May 06/ , Gold Fields Ltd., ADR.. Jul. 06/20 230,180 1,500 Gold Fields Ltd., ADR.. Jul. 06/ ,000 1,850 Gold Fields Ltd., ADR.. Jul. 06/25 203,500 1,000 Goldcorp Inc Apr. 06/25 410,000 1,240 Goldcorp Inc Jul. 06/ , Goldcorp Inc Jul. 06/30 191,250 1,858 Golden Star Resources Ltd Jan. 07/5 74, Halliburton Co Apr. 06/70 227, Halliburton Co Apr. 06/80 14, Halliburton Co Jul. 06/85 49, Harmony Gold Mining Co. Ltd., ADR Apr. 06/15 49, Harmony Gold Mining Co. Ltd., ADR Apr. 06/ ,000

4 THE GABELLI GLOBAL GOLD, NATURAL RESOURCES & INCOME TRUST SCHEDULE OF INVESTMENTS (Continued) March 31, 2006 (Unaudited) Number of Expiration Date/ Market Contracts Exercise Price OPTION CONTRACTS WRITTEN (Continued) Call Options Written (Continued) 2,832 Harmony Gold Mining Co. Ltd., ADR May 06/15 $ 481, Harmony Gold Mining Co. Ltd., ADR May 06/ ,000 1,000 Harmony Gold Mining Co. Ltd., ADR Aug. 06/15 255, Harmony Gold Mining Co. Ltd., ADR Aug. 06/ ,000 1,300 Harmony Gold Mining Co. Ltd., ADR Aug. 06/20 110, IAMGOLD Corp.(a).... May 06/9 48, Inco Ltd Apr. 06/50 68, Inco Ltd Jul. 06/55 50,000 2,000 Ivanhoe Mines Ltd May 06/8 316,200 4,000 Ivanhoe Mines Ltd May 06/9 314, Ivanhoe Mines Ltd Jun. 06/10 18, Ivanhoe Mines Ltd Sep. 06/ , KerrMcGee Corp Apr. 06/95 122,000 2,981 Kinross Gold Corp May 06/10 387,530 4,271 Kinross Gold Corp May 06/12 186,215 3,626 Kinross Gold Corp Aug. 06/10 652,680 1,900 Lihir Gold Ltd.(c) Aug. 06/ , Lihir Gold Ltd.(c) Sep. 06/ ,755 2,000 Lihir Gold Ltd.(c) Sep. 06/ , Marathon Oil Corp Apr. 06/70 134, Marathon Oil Corp Apr. 06/75 22, Marathon Oil Corp Apr. 06/80 7, Marathon Oil Corp Jul. 06/80 61, Meridian Gold Inc Apr. 06/ , Meridian Gold Inc Apr. 06/25 438,720 2,316 Meridian Gold Inc Jul. 06/30 694, Meridian Gold Inc Oct. 06/30 327, Murphy Oil Corp Apr. 06/50 107, Murphy Oil Corp Jul. 06/55 68, Murphy Oil Corp Jul. 06/60 4, Nabors Industries Ltd.... Apr. 06/75 10, Newcrest Mining Corp.(c) Sep. 06/ ,950 1,994 Newmont Mining Corp... Jun. 06/55 458, Newmont Mining Corp... Jun. 06/60 28, Newmont Mining Corp... Jun. 06/65 18, Newmont Mining Corp... Sep. 06/55 292, Noble Corp Jun. 06/80 360, Noble Corp Jun. 06/85 200, Noble Corp Sep. 06/85 132, Peabody Energy Corp.... Jun. 06/45 214, Peabody Energy Corp.... Jun. 06/50 38, Phelps Dodge Corp Apr. 06/75 139, Phelps Dodge Corp Jul. 06/ ,200 1,000 Plum Creek Timber Co. Inc Aug. 06/40 62,500 4 Number of Expiration Date/ Market Contracts Exercise Price 2,765 Randgold Resources Ltd., ADR Jun. 06/17.50 $ 497,700 1,030 Randgold Resources Ltd., ADR Jun. 06/20 79,825 1,985 Randgold Resources Ltd., ADR Sep. 06/20 277, Rio Tinto PLC, ADR.... Jul. 06/210 63, Rowan Companies Inc... Apr. 06/40 90, Rowan Companies Inc... Apr. 06/ , Rowan Companies Inc... Jul. 06/45 99, Suncor Energy Inc Apr. 06/75 90, Suncor Energy Inc Apr. 06/80 33, Suncor Energy Inc Jun. 06/85 80, Teck Cominco Ltd., Cl. B(a) Apr. 06/72 18, Teck Cominco Ltd., Cl. B(a) Apr. 06/74 24, Teck Cominco Ltd., Cl. B(a) May 06/74 17, Teck Cominco Ltd., Cl. B(a) May 06/76 27, Teck Cominco Ltd., Cl. B(a) Aug. 06/78 40, Tesoro Corp May 06/65 342, Total SA, ADR May 06/140 7, Total SA, ADR May 06/ , Total SA, ADR Aug. 06/140 39, Transocean Inc May 06/75 111, Transocean Inc May 06/80 168, Transocean Inc May 06/85 62, Valero Energy Corp..... Jun. 06/55 231, Valero Energy Corp..... Jun. 06/60 84, Valero Energy Corp..... Jun. 06/ , Valero Energy Corp..... Jun. 06/65 62, Valero Energy Corp..... Sep. 06/ , Valero Energy Corp..... Sep. 06/65 105, Weatherford International Ltd May 06/40 178, Weatherford International Ltd May 06/45 215, Weatherford International Ltd Aug. 06/50 142, Weyerhaeuser Co Apr. 06/70 10, Weyerhaeuser Co Apr. 06/75 15, Williams Companies Inc. May 06/ , Williams Companies Inc. May 06/25 3, Williams Companies Inc. Aug. 06/ , Williams Companies Inc. Aug. 06/25 19, XTO Energy Inc May 06/45 81, XTO Energy Inc May 06/50 7,000 TOTAL CALL OPTIONS WRITTEN (Premiums received $18,584,036).. $ 24,033,106

5 THE GABELLI GLOBAL GOLD, NATURAL RESOURCES & INCOME TRUST SCHEDULE OF INVESTMENTS (Continued) March 31, 2006 (Unaudited) For Federal tax purposes: Aggregate cost $ 18,977,069 Gross unrealized appreciation $ 2,637,032 Gross unrealized depreciation (7,828,272) Net unrealized appreciation (depreciation) $ (5,191,240) (a) Exercise price denoted in Canadian dollars. (b) Exercise price denoted in British pounds. (c) Exercise price denoted in Australian dollars. (d) Exercise price denoted in South African rand. (e) Securities, or a portion thereof, with a value of $69,287,423 pledged as collateral for options written. Nonincome producing security. Represents annualized yield at date of purchase. ADR American Depository Receipt * Portfolio securities are valued at the last quoted sale price or closing values. If these are unavailable, then the average of the closing bid and asked prices is used. If there is no asked price, the security is valued at the closing bid price on that day. Debt instruments are valued at the average of the closing bid and asked prices. If the security matures in 60 days or less and is not creditimpaired, it is valued at amortized cost. All securities and assets for which market quotations are not readily available or any security that the Board determines does not reflect its fair market value are valued in good faith under procedures established by the Board. 5

6 AUTOMATIC DIVIDEND REINVESTMENT AND VOLUNTARY CASH PURCHASE PLANS Enrollment in the Plan It is the policy of The Gabelli Global Gold, Natural Resources & Income Trust ( Trust ) to automatically reinvest dividends payable to common shareholders. As a registered shareholder you automatically become a participant in the Trust s Automatic Dividend Reinvestment Plan (the Plan ). The Plan authorizes the Trust to issue common shares to participants upon an income dividend or a capital gains distribution regardless of whether the shares are trading at a discount or a premium to net asset value. All distributions to shareholders whose shares are registered in their own names will be automatically reinvested pursuant to the Plan in additional shares of the Trust. Plan participants may send their share certificates to American Stock Transfer ( AST ) to be held in their dividend reinvestment account. Registered shareholders wishing to receive their distribution in cash must submit this request in writing to: The Gabelli Global Gold, Natural Resources & Income Trust c/o American Stock Transfer th Avenue Brooklyn, NY Shareholders requesting this cash election must include the shareholder s name and address as they appear on the share certificate. Shareholders with additional questions regarding the Plan or requesting a copy of the terms of the Plan may contact AST at (888) If your shares are held in the name of a broker, bank or nominee, you should contact such institution. If such institution is not participating in the Plan, your account will be credited with a cash dividend. In order to participate in the Plan through such institution, it may be necessary for you to have your shares taken out of street name and reregistered in your own name. Once registered in your own name your distributions will be automatically reinvested. Certain brokers participate in the Plan. Shareholders holding shares in street name at participating institutions will have dividends automatically reinvested. Shareholders wishing a cash dividend at such institution must contact their broker to make this change. The number of common shares distributed to participants in the Plan in lieu of cash dividends is determined in the following manner. Under the Plan, whenever the market price of the Trust s common shares is equal to or exceeds net asset value at the time shares are valued for purposes of determining the number of shares equivalent to the cash dividends or capital gains distribution, participants are issued common shares valued at the greater of (i) the net asset value as most recently determined or (ii) 95% of the then current market price of the Trust s common shares. The valuation date is the dividend or distribution payment date or, if that date is not an American Stock Exchange ( ASE ) trading day, the next trading day. If the net asset value of the common shares at the time of valuation exceeds the market price of the common shares, participants will receive common shares from the Trust valued at market price. If the Trust should declare a dividend or capital gains distribution payable only in cash, AST will buy common shares in the open market, or on the ASE, or elsewhere, for the participants accounts, except that AST will endeavor to terminate purchases in the open market and cause the Trust to issue shares at net asset value if, following the commencement of such purchases, the market value of the common shares exceeds the then current net asset value. The automatic reinvestment of dividends and capital gains distributions will not relieve participants of any income tax which may be payable on such distributions. A participant in the Plan will be treated for Federal income tax purposes as having received, on a dividend payment date, a dividend or distribution in an amount equal to the cash the participant could have received instead of shares. Voluntary Cash Purchase Plan The Voluntary Cash Purchase Plan is yet another vehicle for our shareholders to increase their investment in the Trust. In order to participate in the Voluntary Cash Purchase Plan, shareholders must have their shares registered in their own name. Participants in the Voluntary Cash Purchase Plan have the option of making additional cash payments to AST for investments in the Trust s common shares at the then current market price. Shareholders may send an amount from $250 to $10,000. AST will use these funds to purchase shares in the open market on or about the 1st and 15th of each month. AST will charge each shareholder who participates a pro rata share of the brokerage commissions. Brokerage charges for such purchases are expected to be less than the usual brokerage charge for such transactions. It is suggested that any voluntary cash payments be sent to American Stock Transfer, th Avenue, Brooklyn, NY such that AST receives such payments approximately 10 days before the investment date. Funds not received at least five days before the investment date shall be held for investment until the next purchase date. A payment may be withdrawn without charge if notice is received by AST at least 48 hours before such payment is to be invested. Shareholders wishing to liquidate reinvested shares held at AST must do so in writing or by telephone. Please submit your request to the above mentioned address or telephone number. Include in your request your name, address and account number. The cost to liquidate shares is $1.00 per transaction as well as the brokerage commission incurred. Brokerage charges are expected to be less than the usual brokerage charge for such transactions. For more information regarding the Dividend Reinvestment Plan and Voluntary Cash Purchase Plan, brochures are available by calling (914) or by writing directly to the Trust. The Trust reserves the right to amend or terminate the Plan as applied to any voluntary cash payments made and any dividend or distribution paid subsequent to written notice of the change sent to the members of the Plan at least 90 days before the record date for such dividend or distribution. The Plan also may be amended or terminated by AST on at least 90 days written notice to participants in the Plan. 6

7 TRUSTEES AND OFFICERS THE GABELLI GLOBAL GOLD, NATURAL RESOURCES & INCOME TRUST One Corporate Center, Rye, NY Trustees Anthony J. Colavita AttorneyatLaw, Anthony J. Colavita, P.C. James P. Conn Former Chief Investment Officer, Financial Security Assurance Holdings Ltd. Mario d Urso Chairman, Mittel Capital Markets SpA Vincent D. Enright Former Senior Vice President & Chief Financial Officer, KeySpan Energy Corp. Frank J. Fahrenkopf, Jr. President & Chief Executive Officer, American Gaming Association Michael J. Melarkey AttorneyatLaw, Avansino, Melarkey, Knobel & Mulligan Salvatore M. Salibello Certified Public Accountant, Salibello & Broder, LLP Anthonie C. van Ekris Chairman, BALMAC International, Inc. Salvatore J. Zizza Chairman, Hallmark Electrical Supplies Corp. Officers Bruce N. Alpert President Carter W. Austin Vice President Peter D. Goldstein Chief Compliance Officer Molly A.F. Marion Assistant Vice President and Ombudsman James E. McKee Secretary Agnes Mullady Treasurer Investment Adviser Gabelli Funds, LLC One Corporate Center Rye, New York Custodian Mellon Trust of New England, N.A. Counsel Skadden, Arps, Slate, Meagher & Flom LLP Transfer Agent and Registrar American Stock Transfer and Trust Company Stock Exchange Listing Common Amex Symbol: GGN Shares Outstanding: 17,851,705 The Net Asset Value appears in the Publicly Traded Funds column, under the heading Specialized Equity Funds, in Sunday s The New York Times and in Monday s The Wall Street Journal. It is also listed in Barron s Mutual Funds/Closed End Funds section under the heading Specialized Equity Funds. The Net Asset Value may be obtained each day by calling (914) For general information about the Gabelli Funds, call 800GABELLI ( ), fax us at , visit Gabelli Funds Internet homepage at: or us at: closedend@gabelli.com Notice is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940, as amended, that the Trust may, from time to time, purchase its common shares in the open market when the Trust s shares are trading at a discount of 7.5% or more from the net asset value of the shares.

8 THE GABELLI GLOBAL GOLD, NATURAL RESOURCES & INCOME TRUST One Corporate Center Rye, NY (914) First Quarter Report March 31, 2006 GGN 1Q/2006