Mr. Jo Shearer reports

JOHN COSTIGAN APPOINTED PRESIDENT AND DIRECTOR OF ELECTRA GOLD LTD.

Electra Gold Ltd. has appointed John Costigan as president and a director of the company.

Mr. Costigan most recently held the position of vice-president of corporate development for Western Potash Corp. During his seven-year period there Western Potash raised over $140-million and delivered a final feasibility study for the construction of potash solution mine in Saskatchewan. He is the former vice-president of AKP Canada. Mr. Costigan's background includes over 30 years of experience in corporate development, technical sales and marketing to the mining, food, and pulp and paper industries. His responsibilities have also included the development and management of supply chains in Thailand, Brazil and Germany, as well as North America. Graduating first in his class, Mr. Costigan holds an honours degree from Concordia University in Montreal, Que.

Jo Shearer, president, stated, "Mr. Costigan's experience in the capital markets and background in industrial minerals represent a positive step forward for Electra and its shareholders."

Mr. Costigan replaces Ron Savelieff, who has resigned as director to make room for the appointment. The board wishes to thank Mr. Savelieff for his service to the company.

We seek Safe Harbor.