Selkirk Metals Corp.: Ruddock Creek Underground Development Program Advancing

Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased
to announce that underground mining is progressing as planned at the Ruddock
Creek Property, located 100 km north-northwest of Revelstoke in the Kamloops and
Revelstoke Mining Divisions, British Columbia.


Underground operations commenced in late September with the collaring of the
portal and full 24 hour mining cycle on the decline starting at the end of
November once the camp construction was completed. The decline has been advanced
200m from the collar of the portal, not including re-mucks, safety bays and
water sumps. As expected based on the drilling and geological information, the
ground conditions have been excellent. Procon Mining and Tunnelling Ltd. is
continuing as the contractor on site with support from Selkirk personnel.


The decline will, at a projected length of 1000m, intersect the massive sulphide
mineralization of the E-Zone at the deepest and most westerly point in the area
of drill holes RD-05-113 and RD-06-152. Drill results are tabulated below:




------------------------------------------------------------------------
------------------------------------------------------------------------
                  FROM           TO       INTERVAL      ZINC        LEAD
HOLE NUMBER         (m)          (m)            (m)        %           %
------------------------------------------------------------------------
E Zone
------------------------------------------------------------------------
RD-05-113        708.5       722.55          14.05     15.79        3.33
------------------------------------------------------------------------

------------------------------------------------------------------------
RD-06-152       648.84       671.40          22.56     11.70        2.27
------------------------------------------------------------------------
------------------------------------------------------------------------



To date, over 30,000m of diamond drilling has defined a continuous zone of
zinc-lead rich massive sulphide within the E-Zone along a length of over 1200m,
widths of up to 400m and thicknesses of over 30m. As the Company has previously
reported, the massive sulphide contains excellent grades of zinc and lead. The
decline will allow for immediate access to the Zone at the western end for bulk
metallurgical testing and by way of lateral development and underground diamond
drilling extend the Zone to the west.


Diamond drilling from underground will commence as soon as the decline has
reached a depth of approximately 800 meters. The initial drilling will focus on
the area from the deep holes 113 and 152 up dip towards the near surface
resource at the eastern end. This will provide the detailed information
necessary to finalize a resource calculation of the entire E-Zone as defined to
date and also commence the engineering and design necessary to complete a
scoping and ultimately a feasibility study towards development of the deposit.


Once all the final results have been compiled from the 2007 surface diamond
drilling program on the E-Zone, Selkirk plans to complete an updated resource
calculation of the upper portion of the Zone where sufficient drilling has
already been completed. This will allow for a reasonable estimation of the
potential of the entire E-Zone to the depth defined.


In the summer of 2008, Selkirk will also continue surface exploration over the
balance of the "Ruddock Creek Sulphide Horizon". As a result of previous
exploration and the work of Selkirk over the past two years, this horizon
appears to be a continuous zone of massive sulphide similar in mineralogy and
grade as the E-Zone over a length of greater than five kilometers. As such,
there is the geological environment present to host a much larger deposit of
massive sulphide in this Horizon. Selkirk will strive to evaluate the overall
potential of the Ruddock Creek Property as quickly and as comprehensively as
possible as it moves towards potential development.


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.


On Behalf of the Board of Directors of Selkirk Metals Corp.:

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 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.