STOCK OPTION GRANTED

The Company announces that 1,450,000 of granted options have lapsed (expired) on April 5, 2005.  The Company is now granting, subject to regulatory approval, incentive stock options to  Directors and Employees  the right to purchase an aggregate of 1,150,000 common shares, exercisable for 2 (two) years at the price of $0.10 per share.  The stock options will have a legend period of 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 mining company, specializing in industrial mineral production, dedicated to sustainable mining and 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 or Jo Shearer at (604) 647-2227