ELECTRA IS PLEASED TO ANNOUNCE THAT IT HAS SIGNED AN OPTION AGREEMENT TO SELL ITS RIGHTS TO THE METALS (COPPER/GOLD) POTENTIAL AT ITS APPLE BAY CLAIMS TO LUMINA COPPER CORP. WHILE RETAINING ITS RIGHTS FOR ALL INDUSTRIAL MINERALS.

Electra also receives the right to develop industrial minerals on Lumina's claims, which are adjacent to the Apple Bay Property.

Electra is pleased to announce that it has signed an option agreement to sell the metals (Copper/Gold) potential to Lumina Copper Corp. while retaining the rights to all industrial minerals on its 584 unit Apple Bay Claim Group near Port Hardy, BC.  The agreement provides Electra the right to explore, develop and mine industrial minerals on Lumina's 144 unit Hushamu Property which Electra's Apple Bay Claims surround.  Electra management believes that the Hushamu Pyrophyllite Deposit, which is known on the Lumina ground from past exploration and other chalky geyserite and geyserite zones west of Hushamu Creek provide excellent targets that will be investigated and explored by Electra in the second quarter of 2005.  Electra's production of geyserite and chalky geyserite, as well as its development of the kaolinite potential on its PEM 100 Quarry will be unaffected by the deal.  Provisions have been agreed to by the parties to cooperate in areas of mutual interest.

The option agreement calls for staged payments by Lumina to Electra Gold totaling $200,000 by 2008 and then a $800,000 payment in cash or Lumina stock upon metals production.

Electra Gold Ltd. is focusing on industrial mineral production primarily on the West Coast of Canada.  The company has been delivering mineral products for over one year to the cement industry.  The company controls a number of other properties hosting numerous types of mineral products.  Electra plans to evaluate and if appropriate to develop the kaolinite potential on its Apple Bay Claims and on the Duck Lake Claims at Lang Bay located near Powell River, BC.

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

On behalf of the Board of Directors.

J. T. Shearer, M.Sc., P.Geo.

President

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 Doug Stelling or Jo Shearer at (604) 647-2227