Selkirk Metals Corp.
TSX VENTURE : SLK

Selkirk Metals Corp.

November 14, 2006 09:00 ET

Selkirk Metals Corp.: 24.9% Combined Zn + Pb Over 2.6 Metres From the E-Zone, Ruddock Creek Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2006) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to provide this latest series of assay results from 2006 diamond drilling of 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 results include holes in various locations throughout the E-Zone. All of the drill holes except RD-06-130 intersected the mineralization at or near the predicted depth, and continue to confirm the continuity and excellent grade of the Ruddock Creek Sulphide Horizon. Significant results from these holes follow:



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FROM TO INTERVAL ZINC% LEAD%
HOLE NUMBER (m) (m) (m) (i) (i)
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RD-06-134 221.1 223.46 2.36 4.53 1.24
228.94 235.61 6.67 4.45 0.7
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RD-06-138 328.3 336.1 7.8 4.34 0.82
328.3 330 1.7 13.51 2.57
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RD-06-139 369.18 374.07 4.89 4.7 0.87
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RD-06-140 566.63 570.69 4.1 9.22 2.13
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RD-06-141 558.4 560.9 2.4 10.4 1.93
563.5 566.1 2.6 20.6 4.3
568.3 571.4 3.1 5.37 1.0
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RD-06-146 125.85 131.95 6.1 9.81 1.92
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RD-06-147 270.3 286.9 5.4 5.04 0.49
294 297.6 3.6 6.71 1.56
305.6 308 2.4 11.53 0.64
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RD-06-150 685.3 687.8 2.5 15.29 3.15
691.4 703.5 12.1 6.63 0.91
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(i) For reference each 1% grade equals 22 pounds of metal
per metric tonne of ore
At current zinc prices ($2.00/lb) each 1% of grade
equals $44.00US
At current lead prices ($0.75/lb) each 1% of grade
equals $16.50US


The 2006 field program has now been completed on the Ruddock Creek Project, and all personnel and equipment have been demobilized. Over the past 5 months, a total of 14,551 meters of diamond drilling was completed in 38 holes, along with the construction of 5 kilometers of new access road, and a survey of all existing drill collars. Twenty five holes totalling 12,606 meters confirmed the continuity of mineralization in the E-Zone from surface to the westernmost intersection, RD-06-153, a total distance of 1.2 km. Massive sulphide mineralization has been intersected in 23 holes. Assay results from the remainder of the 2006 drilling program are anticipated before year end.

The results of the 2006 drilling program confirm the re-interpretation of the E-Zone as a continuous mineralized body dipping 45 degrees to the north and plunging 40 degrees to the west. The zone has now been intersected for over 1 kilometer down plunge from surface expression of the E-Zone, with a width of approximated at 400 meters.

As a result of the success of the 2006 drilling program, the Company has made the decision to proceed with planning for the development of an underground decline. This will facilitate underground diamond drilling to fully delineate the E-Zone mineralization and allow for bulk sampling. This decline is expected to be collared proximal to Light Lake. 2006 road building has extended access to within approximately 400 meters of the Lake. The road is expected to be completed in early 2007 as soon as conditions permit. The location, direction and final details of the decline will be finalized once all the data from current field operations have been received and compiled.

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

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.

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
    President
    (604) 687-2038
    (604) 687-3141 (FAX)
    Website: www.selkirkmetals.com