ELECTRA GOLD ANNOUNCING PIVOTAL AGREEMENT

Electra Gold Ltd. (the “Company”) announces that it has signed an investor relations agreement effective January 19, 2004 with Pivotal Communications Group Inc. (“Pivotal”), located at 2300 – 1066 West Hastings Street, Vancouver, BC  V6E 3X2.

Pivotal will provide investor relations services to Company for a period of 12 months from the effective date.  This agreement may be renewed at the end of the term by agreement in writing of the parties for a further term of such duration as may agreed by the parties.  Pivotal is owned and operated by Sunita Prasad of Vancouver, British Columbia.

Pivotal will provide investor services with the general objective of expanding the interest and awareness of existing and potential investors and the brokerage and financial community.  Pivotal will also distribute its own report, Microcap Growth Stocks Report ; and has agreed to introduce the Company to funding sources, retail and institutional brokers and other potential sources of business.

In consideration for its services, Pivotal will be paid a fee in the amount of $3,500 per month.  In addition, the Company will pay Pivotal a finder's fee equal of 10% of the gross proceeds raised by the Company from investors introduced by Pivotal.  Lastly, the Company has granted to Sunita Prasad 200,000 stock options exercisable for five years at $0.22 per share.

On behalf of the Board of Directors

DOUGLAS STELLING
Chief Executive Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.