August 7, 2007 TSX Symbol: ELT

Closing of Private Placement

Electra is pleased to report that the Private Placement announced on July 19, 2007 has
been closed with all funds received.

The Private Placement consisted of 1.25 million shares at a price of $0.16 per share,
625,000 are flow-through and 625,000 are non-flow-through. No warrants were
issued.

Funds will be used to advance Electra’s key projects and general working capital.
Insider Participation: J.T. Shearer (President) $100,000 (625,000 NFT units)

The foregoing is subject to regulatory acceptance

For further information call:
A. Salman Jamal
Director, VP Finance and Corporate Communications
604-694-1994 Business
604-694-1995 Fax
888-410-1994 Toll Free

J. T. Shearer, M.Sc., P.Geo, President, is the Qualified Person as defined by NI 43-101 who
supervised the preparation of the technical material of this release.

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.