Elgin's hope of a play-off place were all but ended after a 1-1 draw at Stirling.
Ross Jack's men remain three points behind fourth-placed Berwick and will need to beat East Stirling with the Borderers losing to Rangers - with an eight-goal swing in goal difference - to overtake them in the standings.
They took the lead after just 12 minutes against seventh-placed Stirling as Craig Gunn poked in from close range to score his 13th league goal of the campaign.
The lead lasted until the 57th minute when Stephen Day finished from close range after good work by Alexander Cunningham.
Both sides came close to a late winner as first Mark Ferry headed against the crossbar for the home side before Gunn went within inches of a second goal less than a minute later but his shot bounced back off the post.