ELECTRA SIGNS AGREEMENT WITH ASH GROVE CEMENT
January 24, 2003
Electra Gold Ltd. and Ash Grove Cement Company of Seattle, Washington have signed an agreement in order to further develop the Chalky Geyserite and Geyserite on our Apple Bay Project located about 15 kilometers south west of Port Hardy, BC. The Apple Bay Project has ten known deposits containing Chalky Geyserite and Geyserite. To date, most of the work has been done with Lehigh Northwest Cement Ltd. (formerly known as Tilbury Cement) on the PEM 100 deposit. Currently a drilling program is underway in conjunction with our agreement with Ash Grove Cement Company. We intend to explore several of the other ten known deposits within the scope of our current program.
On behalf of the Board
"DOUGLAS STELLING"
President
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