(i) Compiled for Falconbridge Limited by SRK in 1990, prior to implementation of National Instrument 43-101, and therefore not to be relied on. While not completed in accordance with NI 43-101, these calculations were made using accepted and proven engineering practices and in the opinion of the Company provide an indication of the potential of the property and are relevant to ongoing exploration.

The Cliff Zone has only been partially defined and has the potential to host additional resources. SRK and Falconbridge also developed a conceptual open pit development model where the waste to ore stripping ratio was calculated to be favourably low at 0.7:1.0, waste to ore. In this study the "in pit" resource was 123,804,000 tonnes grading 0.46% copper.

The 2008 diamond drilling program was accomplished and made feasible in part through the cooperative efforts of the Ahousaht First Nation and the Company as reflected in the Memorandum of Understanding ("MOU") that was finalized in April 2008. The completion of the MOU was the culmination of a determined effort by both the management of the Company and the Council, Hereditary Chiefs and peoples of the Ahousaht First Nation. The diamond drilling program and ongoing exploration of the Catface Porphyry Copper Project has been, and will continue to be, conducted on a basis of a mutual and cooperative relationship between the parties as reflected in the MOU. A large majority of the workers in support of the 2008 drilling operation were from the Ahousaht community and their assistance and obvious capabilities were certainly important to the success of the program. "We are very pleased to be working closely with the Council and Hereditary Chiefs of Ahousaht to ensure that ongoing exploration of the Catface Project can be realized. Only through such strong mutual relationships will we be able to pursue this project and meet the needs of the Ahousaht Community and the goals of our Company," stated Gordon Keevil, President of Selkirk.

The results from the first drill hole of the program, CF-08-46, are encouraging as they confirm the known Copper and molybdenum grades and add significant potential economic value through determined gold and silver credits. All logging and sampling of the 2008 drill core is now complete, and additional results and information will be released as it is received and reviewed by the Company. Acme Analytical Laboratories Ltd. was engaged to carry out the analytical work on all samples. The analytical procedure utilized was the Group 1DX-MS 36 multi-element assay by ICP methods. Company standards, blanks and duplicates were employed within the 2008 Catface Diamond Drilling program and upon receipt of all analyses a detailed QA/QC review will be employed by Company Geologists. Additional assaying including Total Soluble Copper and Rhenium analyses will also be conducted once all assay data is received.

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, a director of Doublestar Resources Ltd., Paul D. Gray, P.Geo., who has reviewed and approved this news release.

On Behalf of the Board of Directors:

Gordon Keevil, President

For further information on Selkirk Metals Corp. please visit our website at www.selkirkmetals.com.  

 

Investor Relations: 1.888.807.4526

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.