NEWS RELEASE

The Company has amended and reduced its flow through private placements previously announced on September 1, 2005 from an aggregate of $160,000 to an aggregate of $85,000 for the purchase of  1,062,500 units at a price of $0.08 per unit. Each flow-through unit consists of one flow-through share plus one share purchase warrant. Each whole warrant is exercisable to purchase one further common share at a price of $0.10 per share. The warrants are exercisable for one year from closing.

Proceeds of the private placement will be used for to further develop the Company's Lang Bay Kaolin Property, near Powell River .   Work has already started in organizing the large datafile of drill core and processed samples on the Lang Bay Property.

The private placement and the options are subject to regulatory approval.

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”
President

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