Selkirk Metals Corp.
TSX VENTURE : SLK

Selkirk Metals Corp.

November 26, 2008 07:00 ET

Selkirk Metals Corp.: E-Zone Extended to West by Ruddock Creek Underground Drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2008) - 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:



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HOLE FROM TO INTERVAL ZINC LEAD
NUMBER (m) (m) (m) % %
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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
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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
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EUG-08-14 28.92 32.59 3.67 2.12 0.32
and 37.99 40.76 2.77 12.27 2.30
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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
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EUG-08-16 28.53 32.32 3.79 6.56 1.41
64.38 70.10 5.72 6.05 0.91
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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.

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

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