July 19, 2007 TSX Symbol: ELT
ELECTRA GOLD ARRANGES 1.25-MILLION-UNIT FINANCING

PRIVATE PLACEMENT
At the Company's recent Annual Meeting, June 22/07, Chief Tom Nelson of the Quatsino
First Nation, was elected a director of the Company as per the ground breaking agreement
signed in 2003 between Quatsino First Nation and Electra Gold Ltd. The existing
directors were all re-elected but Ms. Fran Hunt-Jinnouchi has recently resigned as a
director since she is no longer Chief Councillor at Quatsino.

A total of 58 shareholders were present in person or in proxy representing about 31% of
the outstanding shares.

Electra Gold Ltd. has arranged a private placement of 1.25 million units at a price of
sixteen cents per unit. 625,000 units shall be flow through and 625,000 shall be non flow
through. There will be no warrants attached to the financing and the 1.25 million units are
subject to a 4 month hold period. Funds will be used to advance Electra’s key projects and
general working capital.

The company is actively in discussions with additional customers for its existing products
from the producing PEM100 Quarry. Other Industrial Mineral opportunities in BC and
Ontario are being evaluated.

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.