November 16, 2007 TSX Symbol: ELT

Private Placement
Electra Gold Ltd has arranged for a flow through private placement of 1,800,000 units at a price of
$0.10 a unit. Each unit consists of 1 share and 1 share purchase warrant exercisable at $0.16 for a
period of 1 year.

The foregoing is subject to regulatory acceptance.

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

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