If it was a safe landing, he might have delayed triggering it for quite a while, while he explored other possibilities of escape. But surely he'd have eventually done so?
True, I'd have expected he'd have triggered the ELT manually by now too if he could and that does not seem to bode well.
The optimist that I am, however, recognizes that there are still some viable scenarios by which that is NOT an option (snapped ELT antenna? left the plane not seeing a need and then couldn't get back?) and he could still be alive, were he to be sufficiently resourceful.
Since my understanding is that he's the sort who IS that resourceful, I figure it's worth some time to keep participating in the Mechanical Turk search. Especially since I'm unfamiliar with the exact type of ELT on board and the current capabilities of these devices these days. Used to be 121.5Mhz was all there was and you kinda gotta be in range...