Selkirk Metals Corp.
TSX VENTURE : SLK

Selkirk Metals Corp.

July 16, 2008 07:00 ET

Selkirk Metals Corp.: Drilling Program Commences on the Catface Copper Project, British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2008) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) provides an update of activities for the Catface Copper Project, British Columbia. The diamond drill has now been mobilized to the Property and drill operations are underway. In addition, the first phase of water sampling under the direction of Knight Piesold Consulting has also been completed before any field operations were underway. The drilling program will consist of a minimum of 3,000 meters as well as metallurgical testing and ongoing recommended baseline environmental studies.

Following the finalization of the Memorandum of Understanding ("MOU") between the Company and the Ahousaht First Nation ("Ahousaht"), Selkirk through its 97.4% owned subsidiary, Catface Copper Mines Limited ("Catface"), has continued to work closely with the leadership of Ahousaht to provide the level of communications and cooperation contemplated in the MOU and necessary to allow for successful ongoing operations. Catface is the current owner of related mineral claims and mining lease that have been in good standing with no interruption since 1960.

The MOU is specifically designed to allow for ongoing exploration of the Catface Copper Property, and represents a cooperative agreement between the Ahousaht and the Company. The MOU reflects the support of the leadership and members of the Ahousaht and the management of Selkirk. The first phase of operations will consist of a surface diamond drilling program using helicopter support, which will result in little or no surface disturbance. This drilling will add to the information on the deposit and will provide fresh samples of the Porphyry Copper mineralization that can be used for metallurgical and environmental testing. In addition to the drilling, sampling of surface waters, outcrop, historic drill core and waste rock, will be completed as part of the ongoing studies to determine the potential impacts of development. Based on nearly 40 years of records since the Catface Copper deposit was discovered in 1959, there is little evidence of serious drainage contamination in large part due to the low sulphide content of the deposit and the surrounding host rocks.

As with any mineral development project, the collection and compilation of information necessary to evaluate the potential for mine development is the first phase of a process of engineering, design, consultation and communication with interested and affected parties. While there have been some preliminary engineering studies completed in the past, they will serve as guidelines to the work that must be carried out in the future in support of any proposed mine development. Formal studies cannot be started until the completion of the data collection phase of the program, with the current drilling program being only one part. Selkirk will continue to work closely with the relevant regulatory agencies, the Ahousaht and the local communities to provide the related information as it becomes available.

The Catface Copper 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 and Vice President of Exploration, Jim Miller-Tait, P.Geo.

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

  • Selkirk Metals Corp.
    Gordon Keevil
    President
    (604) 687-2038
    (604) 687-3141 (FAX)
    Website: www.selkirkmetals.com