Selkirk Metals Corp.
TSX VENTURE : SLK

Selkirk Metals Corp.

December 02, 2008 07:00 ET

Selkirk Metals Corp.: 0.23% Copper Over 328 Meters from Drill Hole CF-08-51, Catface Project, British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2008) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to report the assay results from diamond drill holes CF-08-50 through CF-08-53, the last of the drill holes from the 2008 field program on the Catface Porphyry Copper Project, Vancouver Island, British Columbia. The following table summarizes the results of drill holes CF-08-50 and CF-08-51. The table also includes the results for holes CF-08-46 to 49, which were previously released and serves to emphasize the consistent nature of the Cliff Zone mineralization:



--------------------------------------------------
FROM TO INTERVAL Cu Ag
HOLE No. (m) (m) (m) (%) (g/t)
--------------------------------------------------

--------------------------------------------------
CF-08-46 3.05 355.70 352.65 0.37 2.67
--------------------------------------------------
Including 278.00 355.70 77.70 0.59 4.63
--------------------------------------------------

--------------------------------------------------
CF-08-47 3.05 285.29 282.24 0.32 2.49
--------------------------------------------------
Including 55.00 86.50 31.50 0.59 3.64
--------------------------------------------------

--------------------------------------------------
CF-08-48 3.05 398.37 395.32 0.45 3.6
--------------------------------------------------
Including 51.50 334.50 283.00 0.52 4.3
--------------------------------------------------
Including 186.50 279.50 93.00 0.67 6.2
--------------------------------------------------

--------------------------------------------------
CF-08-50 4.57 35.66 31.09 0.16 0.99
--------------------------------------------------
Abandoned at
35.66m
--------------------------------------------------
CF-08-51 7.62 504.44 496.82 0.19 1.10
--------------------------------------------------
Including 33.00 361.0 328.00 0.23 1.41
--------------------------------------------------

--------------------------------------------------


Drill holes CF-08-46 to 51 were all drilled to further delineate and expand the Cliff Zone, one of four porphyry copper zones defined within the Catface Copper Porphyry Project. Drill hole CF-08-50 was abandoned due to drilling problems at 35.66m and hole CF-08-51 was collared at the same location but had to be drilled at a steeper angle. This drill site is located 100 metres southeast of the collar of drill holes CF-08-46 and 47. Holes CF-08-50 and CF-08-51 were located to better define and extend the southeastern boundary of the Cliff Zone and to further evaluate higher grade mineralization at depth. Due to the steep angle of drill hole CF-08-51, it remained peripheral to the higher grade core of the Cliff Zone.

The 2008 Catface diamond drilling program, which commenced in early July, was finished in the first week of September. In total, 8 holes were completed totaling approximately 2,400 meters. Six holes tested the Cliff Zone and two holes tested the Hecate Bay Zone. The goal of this phase of exploration on the Catface Copper Porphyry Deposit is to confirm and add to the historic information on the Cliff Zone Deposit and to provide fresh samples of the Catface copper porphyry mineralization that can be used for economic, metallurgical and environmental testing. The assay results received to date continue to confirm the copper grades from previous exploration and have expanded the higher grade bornite bearing core zone.

Holes CF-08-52 (abandoned at 55.47m) and CF-08-53 (373.99m) targeted the Hecate Bay Zone from a single drill site. The Hecate Bay Zone, which has not been evaluated by diamond drilling is defined by a large Induced Polarization and magnetic anomaly with associated copper mineralization at surface. The 2008 Hecate Bay drill holes encountered only weakly anomalous copper, molybdenum and silver in the host volcanics, which overlie Hecate Bay Zone. Selkirk intends to undertake further geological studies including mapping and sampling to select the optimum location to properly evaluate by drilling this important target.

ACME Analytical Laboratories Ltd. was engaged to carry out the analytical work on all samples. The analytical procedure utilized was the Group 1DX-MS 36 multi-element assay by ICP methods. Company standards, blanks and duplicates were employed within the 2008 Catface Diamond Drilling program and upon receipt of the final results a detailed QA/QC review will be completed by Company Geologists. Additional assaying including Total Soluble Copper and rhenium analyses will also be conducted.

The Catface Copper Porphyry Property is owned 100% by Catface Copper Mines Limited, which is owned 97.4% by Doublestar Resources Ltd., a wholly owned subsidiary of Selkirk. The Property is located on Catface Mountain, on the West Coast of central Vancouver Island, BC. Exploration work is conducted under the supervision of the Company's Qualified Person, Paul D. Gray, P.Geo., who has reviewed and approved this news release.

Corporate Update

Effective December 1, 2008, Mr. Ed Yurkowski resigned as a director of the Company. Selkirk would like to take this opportunity to express its appreciation for his contributions to the Board and the Company.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of content of this press release.

Contact Information