EXHIBIT 99.1

                ELEMENT 21 GOLF COMPANY FINALIZES PRIVATE EQUITY
                INVESTMENT WITH RECEIPT OF ADDITIONAL $2 MILLION

TORONTO--(MARKET WIRE)--November 30, 2006 -- Element 21 Golf Company ("E21" or
the "Company") (OTC BB), a manufacturer of high-strength scandium alloy golf
equipment, announced today that it has received the final $2 million of its $4
million private equity investment first announced by the Company on July 31,
2006.

"We are extremely pleased to have consummated the second and final closing of
our Series B Preferred Stock financing transaction and to have secured an
additional $2 million in equity capital for the Company. We look forward to
successfully deploying this additional capital to carry out our business plan
and further the growth of the Company," remarked Dr. Nataliya Hearn, President
and Chief Executive Officer of the Company.

At an initial closing held on July 31, 2006, E21 issued 117,648 shares of its
newly designated Series B Convertible Preferred Stock at a per share price of
$17.00 and warrants to purchase an aggregate of 17,647,059 shares of E21's
Common Stock to two private investors in exchange for a $2 million investment in
the Company. At the subsequent closing held on November 30, 2006, the Company
issued an additional 117,648 shares of Series B Convertible Preferred Stock at a
per share price of $17.00 and additional warrants to purchase an aggregate of
17,647,059 shares of E21's Common Stock to the two private investors that
participated in the initial closing, in exchange for an additional $2 million
investment in the Company.

Each share of Series B Convertible Preferred Stock is initially convertible into
100 shares of E21's Common Stock, resulting in a Common Stock price per share to
the investors of $0.17. At the subsequent closing, each investor received two
additional warrants, one warrant to purchase 3,750,000 shares of E21's Common
Stock at an exercise price of $0.22 per share if the warrant is exercised on or
before July 31, 2007, and $0.28 per share if the warrant is exercised on or
after August 1, 2007, and one warrant to purchase 5,073,530 shares of E21's
Common Stock at an exercise price of $0.28 per share. All of the warrants issued
by the Company in the financing are exercisable at anytime prior to January 31,
2009 and may only be exercised through a cash payment to the Company. The
exercise of the warrants issued at the initial closing and the subsequent
closing in full will result in an additional $9,000,000 equity investment in the
Company.

The Company intends to use the proceeds of the financing to further the
execution of its business plan, the critical elements of which include expanding
the Company's retail sales reach and marketing efforts, purchasing additional
inventory, developing new products and increasing the Company's PGA, LPGA,
Nation Wide and Champion tour presence.

         The shares of preferred stock and warrants sold in the Company's Series
B Preferred Stock financing transaction have not been registered under the
Securities Act of 1933, as amended, or state securities laws and may not be



offered or sold in the United States absent registration with the Securities and
Exchange Commission or an applicable exemption from the registration
requirements. This news release is not an offer to sell or the solicitation of
an offer to buy shares of preferred stock, common stock or warrants or any other
securities of the Company.

About Element 21 Golf Company:

E21 holds the exclusive right to manufacture golf products using proprietary E21
Alloys. Through a sophisticated multi-technology production path E21
manufactures shafts, drivers, and other clubs with marked improvements in
distance, accuracy and feel over competing products. In recent months a number
of high profile golf professionals have switched to or began testing E21's Eagle
One shafts. E21 Alloys are 55% lighter and offer 25% strength to weight
advantage over Titanium alloys, the current standard in the golf equipment
industry. The advanced dynamics of E21 Alloys and the material economics offer a
performance-enhanced alternative to manufacturing driver clubs with Titanium,
the largest segment of the annual $4 billion golf equipment marketplace.

E21 recently concluded its "Golf Shot Around the World Mission" in celebration
of the 35th anniversary of Alan B. Shepard Jr.'s historic Apollo 14 Mission.
Just about every single record for distance in the golf industry was shattered
on November 22, 2006 when an astronaut hit a golf ball into orbit around the
earth from the International Space Station using an E21 golf club. It is only
natural that this event took place on the International Space Statement,
considering that E21 Alloys are also used on the International Space Station in
high strength, fatigue resistant applications.

E21 Golf - The Evolution is Inevitable!

Forward-Looking Statements. Statements in this release, other than statements of
historical fact, may be regarded, in certain instances, as "forward-looking
statements" pursuant to Section 27A of the Securities Act of 1933 and Section
21B of the Securities Exchange Act of 1934, respectively. "Forward-looking
statements" are based on expectations, estimates and projections at the time the
statements are made, and involve risks and uncertainties which could cause
actual results or events to differ materially from those currently anticipated,
including but not limited to market acceptance of its products, delays or
difficulties in manufacturing and/or bringing its products to market, changed
strategies, or unanticipated factors or circumstances affecting E21 and its
business and its ability to successfully implement its business plan. A number
of these risks and uncertainties are described in E21's periodic reports filed
with Securities and Exchange Commission. There can be no assurance that such
forward-looking statements will ever prove to be accurate and readers should not
place undue reliance on any such forward-looking statements contained herein,
which speak only as of the date hereof. E21 undertakes no obligation to
republish revised forward-looking statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated events.



Company Contacts:
- ----------------

Investor Relations
Element 21 Golf Company
(416) 362-2121
investors@e21golf.com
http://www.E21Golf.com

Sales
Element 21 Golf Company
888 365-2121
sales@e21golf.com
http://www.E21Golf.com

Media members interested in testing shafts or other E21 products for an
editorial review or receiving further information please contact:

The Media Group
Joe Wieczorek or Bart Henyan
(847) 956-9090
joe@themediagroupinc.com
barthenyan@hotmail.com

Source: Element 21 Golf Company