March 21, 2007 TSX Symbol: ELT

The Company is pleased to announce that the third payment of $60,000 has been received from Western Copper, pursuant to the agreement signed in 2005 that allows Western to conduct exploration for metals in the Hushamu--North West Expo areas while retaining the Industrial Mineral rights to Electra.

The Company is also pleased to announce that the high-speed articulating radial Stacker Loadout system is being installed at Jensen Cove in Port Hardy. This loadout system will be used to load larger barges (up to 12,000 ton capacity), in a more efficient, safe and lower cost manner.

The Company has received assay results from the recent core drilling at it's Lang Bay Kaolin Property, near Powell River, B.C.

Sand, gravel and till overburden was slightly thicker than expected, However, all four holes encountered the Cretaceous-Age Nanaimo Group kaolinized sandstone--shale sequence and then into the underlying kaolinized granitic basement.

Preliminary results show that the Cretaceous sedimentary rock averages:

Hole 06--01 Silica-61.3%, Alumina-15.8%, MgO-1.3%, Na2O-1.4% and K2O-1.5%

Hole 06-02 Silica-59.6%, Alumina-15.9%, MgO-1.2%, Na2O-1.1% and K2O-1.3%

Hole 06-03 Silica-62.9%, Alumina-14.4%, MgO-1.01%,Na2O.99% and K2O-1.3%

Hole 06-04 Silica-62.0%, Alumina-16.2%, MgO-1.01% Na2O-1.1% and K2O-1.3%

This chemistry is within the specifications for Cement Raw Materials. Further work is planned to investigate the suitability the Lang Bay Cretaceous sedimentary rock to fulfill the cement raw materials requirements and to complete a comprehensive update of the Company's 1989 Market Study on the Lang Bay deposit.

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

Electra Gold Ltd. is a mining company, specializing in industrial minerals and dedicated to preserving the environment.

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.

For further information, please see website at www.electragoldltd.com or contact Jo Shearer
at (604) 647-2227 or (604) 970-6402.