NEWS RELEASE

Electra is pleased to announce that production of chalky geyserite in 2005 totalled 120,600.7 tonnes which was shipped to the Ash Grove Cement Plant in Seattle Washington. This production was 9.6% above the scheduled 2005 production.

On March 23, 2006 Electra delivered the 50th barge load of chalky geyserite to Ash Grove Cement since commencing continuous production in September 2003. Barge #51 is scheduled to be loaded today, April 3/06.

Electra has received, from the Ministry of Mines, a long term permit dated March 13/06 to mine chalky geyserite up to the amount of 249,000 tonnes per year. This permit approves Electra's 5 year Mine Plan and Water Mitigation System.

A non-brokered unit private placement of $225,000 at a price of $0.12 per share (totaling 1,875,000 shares) plus warrants exercisable at $0.20 in the first year and $0.30 in the second year has been arranged.

For further information on this release please contact Mr. Salman Jamal at:

Syndicated Capital Corporation
604-694-1994 Business
604-694-1995 Fax
888-410-1994 Toll Free
www.syndicatedcc.com

On behalf of the Board of Directors,
“J. T. Shearer”
President

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

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 our website at www.electragoldltd.com or contact Jo Shearer / Doug Stelling at (604) 647-2227 or (604) 970-6402.