9.39% Zn and 1.34% Pb Over 14.12 Meters From Ruddock Creek

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9.39% Zn and 1.34% Pb Over 14.12 Meters From Ruddock Creek

posted on Jan 20, 2009 03:14AM

January 20, 2009

Selkirk Metals Corp.: 9.39% Zn and 1.34% Pb Over 14.12 Meters From Ruddock Creek Underground Drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 20, 2009) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to report the assay results for diamond drill holes EUG-08-24 to 32 from the 2008 Ruddock Creek underground exploration and development program. These drill holes were all located at the eastern up dip portion of the E-Zone that was drilled from underground in 2008. The results are summarized in the following table:

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                 From      To   Interval      Zn      Pb       Ag
Drill Hole #       (m)     (m)        (m)      %       %      g/t
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EUG-08-024      88.18   89.88       1.70    6.96    1.54     2.25
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EUG-08-025      73.70   77.45       3.75    5.10    0.97     3.20
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EUG-08-026      92.52   96.85       4.33    9.39    1.49     3.39
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EUG-08-027      58.41   60.05       1.64    8.65    1.37     4.29
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                82.21   86.88       4.67    9.94    1.85     2.19
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               102.72  110.82       8.10   10.58    1.64     1.91
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               116.83  130.95      14.12    9.39    1.34     2.36
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EUG-08-028      85.25   90.78       5.53    3.09    0.46     0.79
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EUG-08-029    Abandoned
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EUG-08-030      99.64  106.69       7.05    6.24    1.05     1.07
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EUG-08-031     112.00  122.67      10.67    2.97    0.55     1.34
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               131.82  140.18       8.36    7.29    1.43     3.07
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               160.34  160.67       0.33   15.68    3.48    18.00
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EUG-08-032     107.74  108.07       0.33   13.13    2.57     8.00
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These are the final drill results from the underground drill program completed during 2008. This drilling was designed to provide additional close spaced drill intercepts of the western extension of the E Zone portion of the Ruddock Creek Sulphide Horizon. All of the 2008 drilling was completed from drill stations located along the northerly trending decline, or on the easterly trending crosscut developed at the 900m point of the decline. The decline, completed in September 2008 reached a length of 982 meters, successfully intersected the target E-Zone as predicted by the geological modeling based on surface diamond drilling. The crosscut was developed to a length of 170 meters east of the main decline and includes four drill stations. The underground diamond drilling program has completed the required number of drill holes necessary to finalize the resource calculation for the portion of the E-Zone from surface outcrop to the point where it has been intersected by the decline, a length of approximately 1.2 kilometers. Previous surface drill programs on the near surface, eastern portion, of the E Zone have shown it to be up to 450m in dip extent from the northern to southernmost intercepts. In the area of the underground drilling the longest defined dip length of the horizon is 300m, however this remains open in both directions.

The Ruddock Creek Sulphide Horizon consists dominantly of calc-silicate rocks, pegmatites and lesser biotite schist. Lenses of massive sulphide, composed of sphalerite, pyrrhotite and galena in order of abundance are hosted by the calc-silicate portions of the package. The Ruddock Creek Sulphide Horizon varies from less than 5m to over 50m in true thickness. Multiple individual massive sulphide lenses are present within the horizon, ranging from less than 1m to greater than 5m in true thickness, separated by variable thicknesses of non mineralized pegmatite, calc-silicate or biotite schist. Locally these stacked lenses of massive sulphide and host rock, attain true thicknesses of over 30m of ore grade material.

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. Acme Analytical Laboratories Ltd. was engaged to carry out the analytical work on all samples. The analytical procedure utilized was the Group 7AR 23 multi-element assay by ICP-AES methods.

On Behalf of the Board of Directors:

Gordon Keevil, President

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