November 25, 2008 - TSX Symbol: ELT

Electra Gold acquires rights to Suquash coal field
The TSX Venture Exchange has accepted for filing an option agreement dated May 16, 2008, between Electra Gold Ltd. and Hanam Canada Marketing Corp. whereby the company will acquire the rights to obtain coal licences covering the Suquash coal field.
The considerations for the acquisition are:
A         $8,800 cash on execution of agreement; and
B         3,000,000 shares of the company on the following schedule;
1.         500,000 shares on issue of a mine exploration permit for a decline, and the support in writing of the Fort Rupert Band Council,
2.         500,000 shares by April 30, 2009,
3.         1,000,000 shares on completion of an acceptable National Instrument 43-101 report documenting in situ reserves of at least five million tonnes of 11,000 BTU coal
4.         1,000,000 shares on the extraction and sale of a 10,000-tonne bulk sample with 50,000 tonnes developed

For further information please contact: Jo Shearer - jo@electragoldltd.com or call 604 696 1022 x1

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 which has been prepared by management.  We seek safe harbour.

For further information, please see website at www.electragoldltd.com

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