November 10, 2008 - TSX Symbol: ELT

Electra Doubles Production

Electra is very pleased to announce a major order by LaFarge Canada Inc. in the amount of 20,000 tonnes that will be delivered in the fourth quarter of 2008.  A long term, multi-year contract with Lafarge is being negotiated and scheduled to be signed before the end of 2008 that will approximately double the production of the PEM100 Mine in 2009.  Unit cost of production is expected to decrease due to the increased through-put.

The shares for debt originally announced on June 24, 2008 has been approved by the TSX-V as follows:
1,741,073 shares at a price of $0.08 per share.  Insider participants include Deborah Brand 25,000 shares, Homegold Resources Ltd. 1,318,292 shares, Kiesman Capital 145,875 shares and Lana Eagle 225,000 shares.  All of these shares are subject to a four month hold period. 

The non-brokered placement private placement announced on October 20, 2008 has also been approved by the TSX-V as follows: 1,875,000 flow-through units at a price of $0.08 per unit for gross proceeds of $150,000.  Each flow-through unit consists of one flow-through share and a full non flow-through share purchase warrant at $0.10 exercisable for 24 months from the date of closing the transaction.  The Funds will be used to target zones of high alumina geyserite and other silica-alumina products. 

For further information please contact:

Randy Buhler
Phone: 778-389-7712 or 604-696-1022 Loc 1
rbuhler@electragoldltd.com

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) 696-1022 Loc 4 or (604) 970-6402.

Unit 5 – 2330 Tyner Street, Port Coquitlam, B.C.  V3C 2Z1
Phone: 604-970-6402 Fax: 604-944-6102