January 9, 2006 TSX Symbol: ELT

Total Tonnage for 2006

The Company is pleased to announce that the 72 nd Barge Load was shipped December 29, 2006, bringing the total production of chalky geyserite in 2006 to 121,712.35 tonnes. This was on target and on budget.

The company has had inquiries from another user which will be vigorously followed up in 2007.

The Company is also pleased to report that a 6% increase in price per tonne has been negotiated with its main customer which will take effect immediately.

For further information regarding this news release please contact:

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.