THE COMPANY HAS ARRANGED PRIVATE PLACEMENTS IN THE AGGREGATE OF $125,000 FOR THE PURCHASE OF 500,000 UNITS AT A PRICE OF $0.25 PER UNIT.

The Company has arranged private placements in the aggregate of $125,000 for the purchase of 500,000 units at a price of $0.25 per unit.  Each unit consists of one previously unissued common share in the capital of the Company  and a one year warrant to purchase one further common share at a price of $0.35 per share.

320,000 of the units being issued for a total of $ 80,000 will be flow through units.  These funds will be used to incur Canadian Exploration Expense (“CEE”) as defined by the Income Tax Act, Canada, on the Apple Bay Claims, located near Port Hardy, BC. The CEE will be renounced by the Company in favour of the flow through subscribers. The private placement is subject to the acceptance of the Exchange.

Electra Gold Ltd. is a mining company, specializing in industrial minerals and dedicated to preserving the environment.

On behalf of the Board of Directors,

“Douglas Stelling”

Chairman and 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 see website at www.electragoldltd.com or contact Douglas Stelling at (604) 647-2227