Results elsewhere meant that even victory for Cowdenbeath would not have spared them a dreaded relegation play-off.
Gaining from Elgin’s pain were Montrose who clinched fourth spot courtesy of a 1-1 draw with Clyde for whom a point was more than sufficient to secure safety. A close-range finish by former Scotland striker David Goodwillie handed Clyde a 25th minute breakthrough in front of an impressive 1,324 attendance at Links Park.
Chris Templeman found the target four minutes later, firing home after a goalmouth scramble to secure a valuable point for the Gable Endies who now face Peterhead in the play-off semi-final.
Berwick Rangers edged a five-goal thriller against already safe Edinburgh City to also confirm their place in League Two next season.
Darren Lavery opened the scoring for Berwick in the 16th minute and the Borderers doubled their lead thanks to Greg Rutherford’s header. City fought back through Lewis Allan in the 74th minute before Ryan Porteous netted a leveller with five minutes remaining.
Amid frenetic closing stages, David Verlaque pounced to net a winner for Berwick and spark scenes of relieved jubilation.