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.


The most recent results compiled by the Company include holes EUG-08-17 to 23.
These holes were located in the central portion of the area drilled during 2008,
except for holes EUG-21 and 23, which contain the westernmost intercepts
drilled. 




----------------------------------------------------------------
                 From       To   Interval      Zn     Pb      Ag
Drill Hole #       (m)      (m)        (m)      %      %     g/t
----------------------------------------------------------------
EUG-08-017      20.21    26.85       6.64    8.03   1.74    2.35
----------------------------------------------------------------
                73.47    78.25       4.78    4.48   1.22    7.51
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-018      52.00    54.64       2.64    9.24   2.14    2.35
----------------------------------------------------------------

----------------------------------------------------------------
                26.96    33.09       6.13   12.70   2.84    3.00
EUG-08-019    --------------------------------------------------
                84.10    88.71       4.61    9.31   1.73    2.92
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-020      70.28    75.73       5.45   11.72   2.40    3.26
----------------------------------------------------------------

----------------------------------------------------------------
               179.01    194.3      15.29   12.19   2.18    3.06
EUG-08-021    --------------------------------------------------
               227.58   238.41      10.83   10.23   1.96    2.33
----------------------------------------------------------------

----------------------------------------------------------------
                58.00    61.21       3.21    6.67   1.15    3.21
EUG-08-023    --------------------------------------------------
               175.65   183.52       7.87    7.30   1.20    1.96
----------------------------------------------------------------



Results from holes EUG-08-1 to 16, which are among the most westerly holes
completed, have been previously released and are included in the following
table.




----------------------------------------------------------------
                 From       To   Interval      Zn     Pb      Ag
Drill Hole #       (m)      (m)        (m)      %      %     g/t
----------------------------------------------------------------
               350.60   364.11      13.51    3.10   1.05    8.88
              --------------------------------------------------
EUG-08-001     386.49   391.63       5.14   12.77   1.86    1.75
              --------------------------------------------------
               397.10   398.29       1.19    9.02   2.64    4.00
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-002     232.00   236.24       4.24    4.39   0.92    0.00
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-003     230.20   231.20       1.00   16.32   3.36    5.00
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-004     142.15   144.81       2.66   13.72   3.12    2.88
----------------------------------------------------------------

----------------------------------------------------------------
               251.37   262.79      11.42    7.51   0.86    1.19
EUG-08-005    --------------------------------------------------
               313.10   331.97      18.87    8.38   1.52    2.10
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-007     129.57   134.20       4.63   12.71   2.87    4.14
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-008      32.61    40.15       7.54    3.27   0.58    0.76
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-009      61.44    71.15       9.71    4.65   0.96    2.63
----------------------------------------------------------------

----------------------------------------------------------------
                70.79    73.96       3.17    4.81   0.97    2.08
EUG-08-010    --------------------------------------------------
               107.00   108.60       1.60   11.37   2.87    2.55
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-011      90.64    94.18       3.54    7.59   1.61    2.44
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-012      51.44    55.02       3.58   10.42   2.39    1.85
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-013      56.85    58.75       1.90   16.71   3.58    5.54
----------------------------------------------------------------

----------------------------------------------------------------
                69.29    98.51      29.22    3.18   0.77    0.46
EUG-08-015    --------------------------------------------------
Incl.           78.65    82.19       3.54   11.54   2.25    2.32
----------------------------------------------------------------

----------------------------------------------------------------
EUG-08-016      64.38    70.10       5.72    6.05   0.91    1.51
----------------------------------------------------------------



The underground drill program completed during 2008 was designed to provide
additional close spaced drill intercepts of the western extension of the E Zone
portion of the Ruddock Creek Sulphide Horizon. This zone has been traced from
surface outcrops, at the east end, for in excess of 1.2 kilometers, down dip to
the west. The Ruddock Creek Sulphide Horizon consists dominantly of
calc-silicate rocks, pegmatites and lesser biotite schist. Lenses of massive
sulphide, composed of sphalerite, pyrrhotite and galena in order of abundance
are hosted by the calc-silicate portions of the package. The Ruddock Creek
Sulphide Horizon varies from less than 5m to over 50m in true thickness.
Multiple individual massive sulphide lenses are present within the horizon,
ranging from less than 1m to greater than 5m in true thickness, separated by
variable thicknesses of non mineralized pegmatite, calc-silicate or biotite
schist. Locally these stacked lenses of massive sulphide and host rock, attain
true thicknesses of over 30m of ore grade material.


Previous surface drill programs on the near surface, eastern portion, of the E
Zone have shown it to be up to 450m in dip extent from the northern to
southernmost intercepts. In the area of the underground drilling the longest
defined dip length of the horizon is 300m, however this remains open in both
directions. 


All of the 2008 drilling was completed from drill stations located along the
northerly trending decline, or on the easterly trending crosscut developed at
the 900m point of the decline. The crosscut was developed to a length of 170
meters east of the main decline and includes four drill stations. The
underground diamond drilling program has completed the required number of drill
holes necessary to finalize the resource calculation for the 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.
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