NEWS RELEASE

SELKIRK METALS CORP.

1255 West Pender Street, Vancouver, B.C. V6E 2V1

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

TSX Venture Exchange: SLK

Ruddock Creek Project Update

March 3, 2008 - Selkirk Metals Corp. (???Selkirk??? or the ???Company???) is pleased to provide this update of operations on the Ruddock Creek Property, located 100 km north-northwest of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia.

Since the New Year, underground operations have been excellent with the ramp now over 350 meters in length.  While the winter has been harsh in some areas of British Columbia, the snow pack at Ruddock Creek has not been a problem for operations or access.  As previously announced, the current plan is to commence underground diamond drilling at or near the 800 meters mark of ramp advance.  Initial drilling will focus on the up dip section of the Deep E-Zone to connect with the detailed drilling that has been completed from surface.  Once the decline reaches the Deep E-Zone mineralization, at a length of approximately one kilometer, samples will be collected for bulk metallurgical testing.  Delineation of the deeper portions of the deposit through drilling and additional underground development are planned.  

As the underground program continues, Selkirk is also commissioning a second important set of metallurgical tests including tailings classification.  These will be focused on environmental and geotechnical characteristics as a follow-up to the successful heavy liquid and floatation tests completed last year.  The proposed tests will be used in the engineering study and in support of the Environmental Assessment process.  Over the past two years, the Company has been collecting baseline data and related information for this Environmental Assessment and is now preparing the necessary initial documentation.  To date, the results of the metallurgical testing have been very positive both from an operating and an environmental perspective.  It is expected that the current program will simply augment the results obtained to date. 

Management and staff are very pleased with the ongoing developments at the Ruddock Creek Project and remain committed to the completion of the initial scoping study late in 2008.  As the summer approaches, Selkirk will also continue to explore, expand and evaluate the balance of the high grade zinc/lead massive sulphide mineralization that has been defined by several discoveries along the 5 kilometer long ???Ruddock Creek Sulphide Horizon???.  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.  

For further information on Selkirk Metals Corp. please visit its 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 management of Selkirk 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 the public filings of Selkirk at www.sedar.com for further information.