November 27, 2007 TSX Symbol: ELT

ELECTRA REVENUES GROW and PROFITABILITY ACHEIVED

Electra Gold Ltd. (the “Company”) (TSX-V: ELT) announces the release of its 3rd Quarter financial statements and MD&A (the “Quarterly Report”) for the three months ended September 30, 2007.

Jo Shearer, President, states: “We have been working diligently to implement further cost saving strategies to align with our corporate strategy which will increase revenues, giving us a positive bottom line for shareholder value and higher in profitability.”

During the third quarter revenues totalled $916,302 which were up 51% over the same period in 2006. The Company reached a positive net income of $73,676, up over 168% from the same period in the 2006.

Summary of Third Quarter Results
---------------------------------------------------------30-Sept-07 --------------------------------- 30-Sept-06
Sales revenue -------------------------------------$ 916,302 ------------------------------------$ 605,658
Cost of production --------------------------------- 640,024 -------------------------------------- 487,168
Total assets --------------------------------------- 1,545,940 ----------------------------------- 1,413,914
Total liabilities --------------------------------------- 722,802 ------------------------------------- 955,695
Share Capital ------------------------------------ 13,970,738 ------------------------ -------- 13,558,064
General and Administrative expenses ------- 144,656 -------------------------------------- 174,641
Net (Loss) Income for the period ---------------- 73,676 ------------------------------------ (106,822)

Management believes that with the new loading facility now in place and its commitment to the continuous reduction in general and administrative costs, that the Company has the potential to continue to be profitable. The Company’s
CFO is continuing to work on the cost reduction strategy to enable future financial planning which aligns with the corporate mission. Under the management of the directors, the Company is continuing to update its business plan to reflect its growth strategy.

The Company continues to position the PEM100 operation to supply a variety of product grades from new stockpiles in the crushing area. Lafarge Richmond Plant continues to evaluate the material from PEM100.

Construction of the new access road to the Phase II Apple Bay Quarry site has been initiated.

New production opportunities continue to be evaluated.

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 NI43-101 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 responsibilityfor the adequacy or accuracy of the contents herein.