Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased
to report the latest set of assay results from the underground diamond drilling
program at the Ruddock Creek Property, located 100 km north-northwest of
Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia.


All of the drill holes completed during the underground program successfully
intersected the target E-Zone massive sulphide horizon. Multiple intersections
have been encountered in all holes confirming the nature of the E-Zone as
interpreted from the surface drilling. The character of the E-Zone continues to
consist of a stratigraphic section up to 30 to 40 meters thick including
intervals of high grade massive sulphide up to 15 meters thick intermixed with
pegmatite and calc silicates. The attitudes of the mineralized intervals are
variable so the true thickness will be calculated as more drill intersections
pierce the entire mineralized section.


Of particular interest in this group of holes are the results from hole
EUG-08-15. This is the most westerly drilled hole which was designed to test the
E-Zone down dip to the west of the decline. Three separate mineralized intervals
were encountered, with the widest being 29.22m of 3.18% Zn and 0.77% Pb. Within
this interval is a higher grade section of 3.54m of 11.54% Zn and 2.25% Pb.
These are not true widths as additional intercepts will be required to
adequately define the attitude of the mineralization in this area.


The following table summarizes the results received from drill holes 12 to 16
from the underground diamond drilling program:




--------------------------------------------------------------------
HOLE              FROM         TO     INTERVAL       ZINC       LEAD
NUMBER              (m)        (m)          (m)         %          %
--------------------------------------------------------------------
EUG-08-12        39.26      40.55         1.29      22.64       4.89
and              51.44      55.02         3.58      10.42       2.39
                 81.76      84.55         2.79       2.15       0.74
                126.11     128.60         2.49       7.72       1.62
--------------------------------------------------------------------
EUG-08-13        34.41      34.56         0.15      27.32       0.00
and              45.23      48.91         3.68       3.90       0.45
                 56.85      58.75         1.90      16.71       3.58
                 76.74      78.20         1.46      17.27       2.81
                 87.96      92.39         4.43       3.15       0.27
--------------------------------------------------------------------
EUG-08-14        28.92      32.59         3.67       2.12       0.32
and              37.99      40.76         2.77      12.27       2.30
--------------------------------------------------------------------
EUG-08-15        69.29      98.51        29.22       3.18       0.77
including        78.65      82.19         3.54      11.54       2.25
and             142.09     150.27         8.18       4.68       1.99
and             182.63     189.43         6.80       2.93       0.60
--------------------------------------------------------------------
EUG-08-16        28.53      32.32         3.79       6.56       1.41
                 64.38      70.10         5.72       6.05       0.91
--------------------------------------------------------------------



All reported drill holes were completed from drill stations in the vicinity of
or along the 900 meter incline, which was developed to a length of 170 meters
east of the main decline and includes four drill stations. "The excellent
results from drill hole EUG-08-15 are significant as it is the first drill hole
to confirm the projected extension of the E-Zone down plunge to the west,"
stated Gordon Keevil, President.


The underground diamond drilling program has successfully completed the pattern
of drill holes necessary to finalize the resource calculation for this portion
of the E-Zone from surface outcrop to the point where it has been intersected by
the decline, a length of approximately 1.2 kilometers. 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. Acme Analytical Laboratories Ltd. was engaged to carry
out the analytical work on all samples. The analytical procedure utilized was
the Group 7AR 23 multi-element assay by ICP-AES methods.


On Behalf of the Board of Directors:

Gordon Keevil, President

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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