December 5, 2007 TSX Symbol: ELT

Financing Has Closed
The Company is pleased to announce the closing of its non‐brokered flow through
private placement of 1,800,000 units at $0 .10 a unit. Each unit consists of one share
and one share purchase warrant exercisable into one share at $0.16 for a period of
one year. Warrants will expire December 5, 2008. Insider participants include Salman
Jamal at 600,000 units, Jo Shearer at 200,000 units and Deborah Brand at 65,000
units.

For further information please contact:
A. Salman Jamal
Director, VP Finance and Corporate Communications
604‐694‐1994 Business
604‐694‐1995 Fax
888‐410‐1994 Toll Free
On behalf of the Board of Directors,
“Johan Shearer”
President

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the adequacy or accuracy of the contents herein.