Selkirk Metals Corp.
TSX VENTURE : SLK

Selkirk Metals Corp.

June 25, 2008 07:00 ET

Selkirk Metals Corp.: Important Milestone Reached at Ruddock Creek; Underground Diamond Drilling Commences

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 25, 2008) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to announce that the Ruddock Creek Zinc-Lead Deposit will be explored for the first time in history by underground diamond drilling and bulk sampling. The Ruddock Creek Property is accessible year round by the completion of an all season main haul road, has an established 40-man camp facility including mine dry, shops and offices. The project is located 100 km north-northwest of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia.

The decline has advanced to approximately 730 meters with a final planned depth of just over 1000 meters where it will intersect and cross the massive sulphide zinc-lead mineralization of the targeted E-Zone. At a depth of 650 meters the first drill station was built to allow for diamond drilling as the decline continues to its target depth. Underground diamond drilling which has started from this location will initially be directed down the projected path of the decline to intersect the E-Zone massive sulphide mineralization and to acquire related geotechnical information.

The decline will intersect the massive sulphide mineralization of the E-Zone at the deepest and most westerly point in the vicinity of drill holes RD-05-113 and RD-06-152. The results are tabulated below:



----------------------------------------------------------------------
FROM TO INTERVAL ZINC LEAD
HOLE NUMBER (m) (m) (m) % %
----------------------------------------------------------------------
E-Zone
----------------------------------------------------------------------
RD-05-113 708.5 722.55 14.05 15.79 3.33
----------------------------------------------------------------------

----------------------------------------------------------------------
RD-06-152 648.84 671.40 22.56 11.70 2.27
----------------------------------------------------------------------


These widths and grade of mineralization are characteristic of the massive sulphide throughout the E-Zone. Approximately 24,000 meters of surface diamond drilling by Selkirk over the past 3 years has defined the E-Zone continuously for 1.2 kilometers down the plunge from where the Zone is exposed at surface. Based on this length and the average dip and thickness of the zone as defined to date, the indicated size of the zone is sufficient to contain a tonnage of the target mineralization that would justify development. The planned 10,000 meter underground diamond drilling, in conjunction with the surface drilling, will complete the necessary drilling to complete a resource calculation for the entire E-Zone as defined to date and extend the zone down dip to the west.

Once the decline reaches a depth of 900 meters lateral development to the east will provide additional drill stations to continue the detailed drilling of the E-Zone. At that time a second drill will be commissioned. The decline will also continue through the E-Zone at 1,000 meters into the hanging wall allowing the collection of the bulk sample for final metallurgical testing.

In the summer of 2008, Selkirk will also continue surface exploration over the balance of the "Ruddock Creek Sulphide Horizon". As a result of previous exploration and the work of Selkirk over the past two years, this horizon appears to be a continuous zone of massive sulphide similar in mineralogy and grade as the E-Zone over a length of greater than five kilometers. As such, there is the geological environment present to host a much larger deposit of massive sulphide in this Horizon. Selkirk will strive to evaluate the overall potential of the Ruddock Creek Property as quickly and as comprehensively as possible as it moves towards potential development.

Operations on the Ruddock Creek Property are being conducted under the supervision of the Company's Qualified Persons (as defined by NI 43-101), Jim Miller-Tait, P.Geo., Vice President of Exploration and Tom Colbourne, P.Eng., Vice President of Mining.

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