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NEWS RELEASE

SELKIRK METALS CORP.

Suite 800 � 1199West Hastings Street, Vancouver, B.C. V6E 3T5

Tel: (604) 687-2038 / Fax: (604) 687-3141

TSX Venture Exchange: SLK

Corporate Update

September 26, 2008 - Vancouver, British Columbia � Selkirk Metals Corp. (�Selkirk� or the

�Company�) wishes to announce that at its Meeting of Shareholders held on July 29, 2008, the

Company received shareholder approval of its rolling stock option plan which sets the number of

common shares which may be issued pursuant to options previously granted, and those granted

under the Plan, to a maximum of 10% of the issued and outstanding common shares at the time of

the grant, in accordance with the policies of the TSX Venture Exchange (the �Exchange�). The

number of shares which may be reserved for issuance to any one individual, may not exceed 5%

of the issued shares on a yearly basis, or 2% if the optionee is engaged in investor relations

activities or is a consultant. The Stock Option Plan was approved by the Exchange on September

12, 2008.

The Company also wishes to announce that it has granted incentive stock options to its directors,

officers, employees and consultants to purchase an aggregate of 2,480,000 common shares of the

Company at a price of $0.22 per common share. The options expire on September 26, 2013. The

options granted to consultants of the Company are subject to the same terms as above except that

they expire on September 26, 2010.

On Behalf of the Board of Directors:

(signed) �Gordon Keevil�

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.Selkir