May 11, 2007 TSX Symbol: ELT

Marcy Kiesman appointed as CFO

The Company is pleased to announce the appointment of Ms. Marcy Kiesman as Chief
Financial Officer effective immediately. Ms. Kiesman is a Certified Management Accountant with varied work experience holding accounting positions ranging from Controller of a multinational non for profit to the CFO of a TSX Venture listed company. Most recently, Mrs. Kiesman has taken on contract management accounting and CFO duties for both private and publicly listed companies.

Mr. Eric Sauvé has resigned effective today to pursue other business opportunities. The Company is also pleased to announce that Barge #79, containing 8,064.0 tonnes of Chalky Geyserite, was shipped on May 4, 2007 using the new loadout system. This is a substantially larger barge than previous and even larger barges are planned for the future.

Other potential customers have expressed interest in the lower cost potential of using the new loadout capabilities. The next load is scheduled for June of over 9,000 tonnes of product.

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
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