Selkirk Metals Corp.

Selkirk Metals Corp.

November 23, 2006 09:00 ET

Selkirk Metals Corp.: 22.6 Meters of 13.97% Combined Zinc + Lead in RD-06-152 Continues to Extend E-Zone to the West Ruddock Creek Property, B.C.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 23, 2006) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to release the latest drill results from the summer drilling program on the Ruddock Creek Property, which is located 100 km north of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia (the "Property").

The most recently received assay results are from drill hole RD-06-152, which intersected 22.6 meters of massive and disseminated sulphides averaging 11.70% zinc and 2.27% lead. It intersected the E-Zone massive sulphide zone at the predicted depth approximately 25 meters up dip of the intersection in RD-05-113. The two intervals from RD-06-152 and significant results from previous drilling in this area are shown in the following table.

RD-06-152 648.8 671.4 22.6 11.70 2.27
Including 648.8 652.00 3.2 14.13 2.62
and 655.4 671.4 16.0 13.73 2.68
RD-06-150 685.3 687.8 2.5 15.29 3.15
691.4 703.5 12.1 6.63 0.91
RD-05-112 679.8 683.63 3.8 4.62 0.77
RD-05-113 708.5 722.55 19.12 15.79 3.33
RD-05-115 724.2 728.2 4.0 12.98 2.7
C-75-1 (1975) 609.3 614.79 5.5 7.67 1.53
ED-8 (1964) 594.82 596.32 1.5 28.64 3.89

(i) For reference each 1% grade equals 22 pounds of metal per metric tonne
of ore
At current zinc prices ($1.95/lb) each 1% of grade equals $43.00US
At current lead prices ($0.70/lb) each 1% of grade equals $15.00US

Drill hole 152 is very significant as it continues to extend this thick high grade portion of the E-Zone to the west and as such continues to enhance the development potential of the E-Zone, and on a larger scale, the entire Ruddock Creek Sulphide System. The E-Zone has now been intersected and exhibits continuity for over 1 kilometer down plunge from where it outcrops at surface. The width where defined in sufficient detail, is approximately 400 meters. The zone remains open to the west where the most westerly drill hole to date, RD-06-153, intersected the massive sulphide horizon. Assays are pending on further drill holes both within the E-Zone and as previously reported, all of the drill holes from the Creek Zone.

Exploration on the Ruddock Creek Property is being conducted under the supervision of the Company's Qualified Person (as defined by NI 43-101), Jim Chapman, P.Geo.

Selkirk holds a 70% interest in the Ruddock Creek Property pursuant to an option agreement with Doublestar Resources Ltd. (TSX VENTURE:DSR).

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 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

  • Selkirk Metals Corp.
    Gordon Keevil
    (604) 687-2038
    (604) 687-3141 (FAX)