Developing GOLD Assets in
North America

Ely Appoints John Brownlie as Chairman and Trey Wasser as CEO and President

October 28, 2010

Ely Gold & Minerals Inc. (the "Company") is pleased to announce that all the resolutions proposed at its Annual General Meeting of shareholders of the Company held on October 22, 2010 were duly passed. Shareholders approved the Company's new stock option plan, which allows for the grant of options equal in number to 10% of the shares of the Company outstanding from time to time, and elected John Brownlie, Trey Wasser, and Ronald Husband to the board of directors.

At a meeting of the board of directors following the AGM, John Brownlie was appointed Executive Chairman of the Board, Trey Wasser was appointed CEO and President, and Scott Kelly was appointed Corporate Secretary and was re-appointed as CFO, while Stephen Kenwood was appointed to the Company's board of directors.

Ely is focused on acquisition and development of gold resources in the Americas. The Company is currently evaluating near term production assets with a partnership business model focused on cash flow.

On Behalf of the Board of Directors

Signed "Trey Wasser"

Trey Wasser, President

For further information, please contact Ely Gold & Minerals Inc. at 604-488-1104.

E-mail: [email protected]; Website: www.elygoldandminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.