STOCK OPTION GRANTS

The Company announces that it has granted, subject to regulatory approval, incentive stock options to  Directors and Employees  the right to purchase an aggregate of 1,700,000 common shares, exercisable for 2 (two) years at the price of $0.40 per share.  The stock options will be legended with the required four (4) month hold from the time of granting, in accordance with the policies of the TSX Venture Exchange.

Electra Gold Ltd. is a Vancouver, British Columbia industrial mineral mining company dedicated to preserving the environment.

ELECTRA GOLD LTD.

DOUGLAS STELLING

Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.

For further information, please contact:

Douglas Stelling

doug@electragoldltd.com

Or view our website at www.electragoldltd.com