of operations on the Ruddock Creek Property, located 100 km north-northwest of Revelstoke in the

Kamloops and Revelstoke Mining Divisions, British Columbia.

The decline, which is now at a length of 972 meters, has intersected the lower portion of massive sulphide

mineralization at the Deep E-Zone. The decline, which is being driven at grade of -15%, is entering the

mineralization from the footwall of the Zone and will continue until the Zone has been crossed

completely and the upper contact or hanging wall has been intersected. Geological mapping and visual

examination of the massive sulphide mineralization confirm the high percentages of sphalerite (Zn) with

galena (Pb) with accessory pyrite and pyrrhotite that characterize the E-Zone. Similar massive sulphide

mineralization has been defined to date throughout not only the E-Zone but overall throughout the five

kilometer long �Ruddock Creek Massive Sulphide Horizon�. �We are very pleased that this major

underground development and exploration program continues to meet our expectations and confirm not

only the location but most importantly the character of the E-Zone massive sulphides as known from the

surface Diamond drilling programs in 2004 to 2007,� stated Gordon Keevil, President.

In addition to completing the decline, which is expected to ultimately reach a length of approximately

1000 meters, the 900E crosscut will be completed. This crosscut will be 200 meters in length and is

inclined upward at 10%. Four drill stations will be established at a 50 meter spacing along the crosscut to

provide the drilling spacing necessary to complete a scoping study level resource calculation on the entire

1.2 kilometer length of the E-Zone as outlined to date. Approximately 10,000 meters of drilling is

planned. It is important to note that the decline was located to encounter the E-Zone at the deepest most

westerly known point. As indicated by the previous drill results, the E-Zone is thick and high grade at

this location and is open to the west. The planned underground Diamond drilling program will extend the

Zone to the West.

To date, five drill holes have been completed from a drill station located 650m from the portal entrance. A

total of 1554.1m of NQ drilling has been completed to date. All holes have now been sampled and sent in

for assay. A second drill has been mobilized and is setup at a drill station 785m from the portal entrance.

This drill will evaluate the western extension of the E-Zone horizon. Drilling from this location is

scheduled to commence by the weekend of August 23, 2008. Once the current drill hole is completed

from the 650m drill station, this rig will be moved to the first drill station located along the 900m east

crosscut. Drilling with both drills will continue throughout the fall.

�/Cont�d

Selkirk Metals Corp.

News Release � August 25, 2008

Page 2 of 2

�We are very pleased with the continued excellent progress of the underground program and would like to

acknowledge the work of our Project Management and Procon Mining and Tunneling Ltd., the prime

contractor on site. We look forward to the completion of the decline, underground development program

and the ongoing results from the Diamond drilling program,� stated Gordon Keevil, President. 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.

Mr. Edward Yurkowski was recently appointed to the Board of Directors. Also, Alan Savage resigned as

a director of the Company. The Company thanks Mr. Savage for his contributions to the Company.

Edward Yurkowski is the President of Procon Mining & Tunnelling Ltd., a Burnaby-based company

involved in mining contracting. As a founder of the Procon Group of Companies in 1992, Mr. Yurkowski

guides the corporate governance and business development functions of the company. Prior to that, he

was President of Tonto Mining from 1981 - 1991. Mr. Yurkowski received his Bachelor of Science in

Civil Engineering in 1971 from the University of Saskatchewan and he currently serves as a board

member of Imperial Metals Corporation, a TSX-listed company, and serves on the advisory boards of

Madison Minerals Inc., International Bethlehem Mining Corporation and Columbia Yukon Explorations

Inc., all of which are Exchange-listed companies.

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 forwardlooking

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