Mr. John Costigan of Electra reports

MGX MINERALS TO PROVIDE TECHNICAL SERVICES AT ELECTRA GOLD LTD'S APPLE BAY ALUMINA-SILICA QUARRY

Electra Gold Ltd. has reached its first technical services agreement with MGX Minerals Inc. for engineering work at the Apple Bay alumina-silica quarry. The quarry is located near Port Hardy on Vancouver Island and has been in operation since 2004. As part of the company's agreement with MGX, signed Dec. 1, 2014, MGX will provide technical support to Electra. The objectives of the engineering work at Apple Bay include a planned increase in production and optimization of grade. The scope of work by MGX senior engineer includes:

• Compare current production with original mine plan;
• Check previous geological mapping and drill data;
• Representative sampling;
• Review mine layout;
• Recommend production plan and implementation.

Work is planned for a one-week period commencing Feb. 20, 2015. The work is being completed to increase efficiency, increase profitability and grow production in an anticipation of increased sales volumes to the cement industry. The quarry has year-round operations and had sales of $1.2-million in 2014.

Electra is also pleased to announce that it will change its name to Electra Stone Ltd. from Electra Gold; this change reflects Electra's current business operations and focus toward revenue-generating industrial mineral projects. The company's shares will trade on the TSX Venture Exchange under the new name at market open on Monday, Feb. 2, 2015. The trading symbol of the company will remain ELT.

We seek Safe Harbor.