SLK Silk Road Energy Inc

Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased
to provide this update of operations on the Ruddock Creek Property, located 100
km north-northwest of Revelstoke in the Kamloops and Revelstoke Mining
Divisions, British Columbia.


The decline, which is now at a length of 972 meters, has intersected the lower
portion of massive sulphide mineralization at the Deep E-Zone. The decline,
which is being driven at grade of -15%, is entering the mineralization from the
footwall of the Zone and will continue until the Zone has been crossed
completely and the upper contact or hanging wall has been intersected.
Geological mapping and visual examination of the massive sulphide mineralization
confirm the high percentages of sphalerite (Zn) with galena (Pb) with accessory
pyrite and pyrrhotite that characterize the E-Zone. Similar massive sulphide
mineralization has been defined to date throughout not only the E-Zone but
overall throughout the five kilometer long "Ruddock Creek Massive Sulphide
Horizon". "We are very pleased that this major underground development and
exploration program continues to meet our expectations and confirm not only the
location but most importantly the character of the E-Zone massive sulphides as
known from the surface diamond drilling programs in 2004 to 2007," stated Gordon
Keevil, President.


In addition to completing the decline, which is expected to ultimately reach a
length of approximately 1000 meters, the 900E crosscut will be completed. This
crosscut will be 200 meters in length and is inclined upward at 10%. Four drill
stations will be established at a 50 meter spacing along the crosscut to provide
the drilling spacing necessary to complete a scoping study level resource
calculation on the entire 1.2 kilometer length of the E-Zone as outlined to
date. Approximately 10,000 meters of drilling is planned. It is important to
note that the decline was located to encounter the E-Zone at the deepest most
westerly known point. As indicated by the previous drill results, the E-Zone is
thick and high grade at this location and is open to the west. The planned
underground diamond drilling program will extend the Zone to the West.


To date, five drill holes have been completed from a drill station located 650m
from the portal entrance. A total of 1554.1m of NQ drilling has been completed
to date. All holes have now been sampled and sent in for assay. A second drill
has been mobilized and is set up at a drill station 785m from the portal
entrance. This drill will evaluate the western extension of the E-Zone horizon.
Drilling from this location is scheduled to commence by the weekend of August
23, 2008. Once the current drill hole is completed from the 650m drill station,
this rig will be moved to the first drill station located along the 900m east
crosscut. Drilling with both drills will continue throughout the fall.


"We are very pleased with the continued excellent progress of the underground
program and would like to acknowledge the work of our Project Management and
Procon Mining and Tunneling Ltd., the prime contractor on site. We look forward
to the completion of the decline, underground development program and the
ongoing results from the diamond drilling program," stated Gordon Keevil,
President. Operations on the Ruddock Creek Property are being conducted under
the supervision of the Company's Qualified Person (as defined by NI 43-101), Jim
Miller-Tait, P.Geo., Vice President of Exploration.


Corporate Update

Mr. Edward Yurkowski was recently appointed to the Board of Directors. Also,
Alan Savage resigned as a director of the Company. The Company thanks Mr. Savage
for his contributions to the Company.


Edward Yurkowski is the President of Procon Mining & Tunnelling Ltd., a
Burnaby-based company involved in mining contracting. As a founder of the Procon
Group of Companies in 1992, Mr. Yurkowski guides the corporate governance and
business development functions of the company. Prior to that, he was President
of Tonto Mining from 1981 - 1991. Mr. Yurkowski received his Bachelor of Science
in Civil Engineering in 1971 from the University of Saskatchewan and he
currently serves as a board member of Imperial Metals Corporation, a TSX-listed
company, and serves on the advisory boards of Madison Minerals Inc.,
International Bethlehem Mining Corporation and Columbia Yukon Explorations Inc.,
all of which are Exchange-listed companies.


On Behalf of the Board of Directors:

Gordon Keevil, President

For further information on Selkirk Metals Corp. please visit our website at
www.selkirkmetals.com.


This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, exploration and development activities and events or developments
that the Company expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include market
prices, exploration and development successes, continued availability of capital
and financing, and general economic, market or business conditions. Please see
our public filings at www.sedar.com for further information.

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