Selkirk Metals Financial News

Ruddock Creek Project E Zone Update

March 12, 2008 - Vancouver, British Columbia - Selkirk Metals Corp. ("Selkirk" or the "Company") is pleased to provide the following summary of the results from the 2007 E Zone drilling on the Ruddock Creek Property. The E Zone is located at the eastern end of the 5.5km long Ruddock Creek Sulphide Horizon ("RCSH"). The RCSH is a near continuous zone of zinc-lead bearing massive to semi massive sulphide mineralization which has been traced through numerous surface exposures, and is illustrated on the Overview Figure on the Company's website, www.selkirkmetals.com.

E-Zone:

The E Zone is a planar sheet of massive sulphides dipping to the northwest at 45 degrees and plunging to the west at approximately 40 degrees.

Detailed drilling at the eastern end of the E Zone has shown the mineralized body to be in excess of 1 kilometer down plunge to the west and up to 400m wide with the massive sulphide varying in thickness from less than 5m to over 35m. Sufficient drilling to constrain the width of the mineralized horizon has only been completed over the easternmost 150 m of the deposit. Sulphides occur as a series of semi massive to massive lenses of sphalerite and galena hosted by calc silicates with interlayered pegmatite bodies. The metamorphic event, which produced the pegmatites has also remobilized the sulphides resulting in recrystalization and local thickening of the massive sulphide horizons. The E Zone remains open down plunge to the west. The 2007 drill program was designed to infill some areas of wide spaced drilling and define the northern and southern edges of the eastern E Zone.

Structurally, the deposit is continuous with the exception of the west dipping E fault, which cuts the massive sulphides about 600 m west of the surface outcrop. In the immediate area of the fault, the E Zone shows evidence of thinning due to movement along the fault plane, and a small offset due to rotation of the units.

The following table highlights the significant results from the 2004, 2005 and 2006 drill programs on the E Zone, along with results from the infill holes completed in 2007:

E ZONE DRILL RESULTS
DRILL HOLE	FROM (m)	TO (m)	INTERVAL (m)	ZINC (%)	LEAD (%)
RD-04-101	86.00	92.07	6.07	15.91	2.02
	97.50	101.50	4.00	14.32	2.90
RD-04-102	69.00	84.50	15.50	11.19	2.09
	92.60	110.00	17.40	16.28	3.31
	115.98	123.00	7.02	17.94	4.50
RD-04-103	87.17	94.75	7.58	10.55	2.08
	108.40	112.25	3.85	14.27	2.69
RD-04-104	62.10	65.00	2.90	12.26	2.36
	74.10	84.43	10.33	11.37	2.51
RD-04-105	132.00	142.30	10.30	7.56	1.56
RD-04-106	116.00	126.79	10.79	4.18	0.59
RD-04-107	142.25	159.32	17.07	15.02	3.37
RD-04-108	133.13	143.83	10.70	13.42	2.56
RD-04-109	180.14	187.17	7.03	20.43	5.49
	191.42	198.05	6.63	7.67	1.70
RD-04-110	184.76	203.92	19.16	8.96	1.96
RD-04-111	197.50	202.00	4.50	6.82	1.37
	213.00	221.03	8.03	12.21	2.95
RD-05-112	679.80	683.63	3.83	3.85	0.77
RD-05-113	708.50	722.55	14.05	15.79	3.33
RD-05-115	724.20	728.20	4.00	12.98	2.70
RD-06-116	125.85	131.95	6.10	9.81	1.92
RD-06-117	130.29 141.07 155.91	136.10 145.10 162.55	5.80 4.00 6.60	12.79 9.47 4.98	2.33 1.44 0.73
RD-06-118	115.80	116.58	0.80	12.39	0.17
RD-06-119	157.00 167.00 178.38 192.50	161.07 174.39 183.36 198.56	4.07 7.39 4.98 6.06	7.20 14.78 4.22 9.33	1.00 3.16 0.76 2.07
RD-06-121	91.08 117.09 124.05	100.84 118.49 129.79	9.76 1.40 5.74	5.80 15.71 6.78	1.32 2.76 1.53
RD-06-122	146.35	152.51	6.16	6.93	1.26
RD-06-123	144.75 157.10 187.75	151.35 167.35 189.50	6.60 10.25 1.75	3.79 16.35 5.16	0.71 3.65 0.88
RD-06-127	244.84	252.10	7.30	4.92	0.92
RD-06-129	283.40	288.78	5.40	3.09	0.81
RD-06-131	259.03	263.21	4.20	6.43	0.86
RD-06-132	294.40	299.51	5.10	4.21	0.98
RD-06-134	221.10 228.94	223.46 235.61	2.36 6.67	4.53 4.45	1.24 0.70
RD-06-135	236.29	248.73	12.44	9.39	1.87
RD-06-138	328.30 328.30	337.10 330.00	8.80 1.70	4.01 13.51	0.76 2.57
RD-06-139	369.18	374.07	4.89	4.70	0.87
RD-06-140	566.63	570.69	4.10	9.22	2.13
RD-06-141	558.45	571.38	12.90	7.48	1.49
RD-06-143	471.80	477.77	6.00	3.05	0.61
RD-06-146	277.71	286.92	9.20	4.32	0.81
RD-06-147	270.3 294.00 305.60	275.73 297.60 308.00	5.40 3.60 2.40	5.04 6.71 11.53	0.49 1.56 0.64
RD-06-148	214.46	241.10	26.60	5.43	0.96
RD-06-150	685.30 711.56	703.50 714.92	18.20 3.40	6.50 8.46	1.03 1.40
RD-06-152	648.80	671.40	22.60	11.70	2.27
RD-06-153	681.22	685.93	4.70	6.43	0.98
RD-07-173	323.14	326.66	3.52	1.25	0.22
RD-07-174	375.95	381.30	5.35	7.52	1.57
RD-07-175	432.65	436.17	3.52	2.70	0.55
RD-07-183	141.25	156.90	15.65	2.50	0.37
RD-07-184	214.58	228.86	14.28	5.73	0.91
RD-07-185	187.35	197.43	10.08	4.25	0.22
	212.38	218.18	5.80	1.76	0.09

Three pads were utilized to drill 9 holes, RD-07-173 to 175 and 180 to 185 which were completed in 2007. Pad F is located along the southeast edge of the mineralization and was used for holes RD-07-180, 181, 182 and 183. Holes 180 to 182 did not intersect the Zone, and confirmed the updip edge of the mineralization. RD-07-183 was sub vertical and intersected a thick section of the Zone consisting mostly of semi-massive sulphides with up to 8.8% Zinc and 1.7% Lead over 0.78m.

Pad K was established at approximately the mid point of the known mineralization in the E Zone. Holes RD-07-173 to 175were drilled from this location to test the E Zone as it approaches the E Fault. Intersections of between 3m and 5.3m were recorded with individual assays up to 14.9% Zinc and 3.5% Lead over widths of up to 0.5m confirming that the Zone has been affected by the fault but appears to be continuous.

The third pad was located along the northeastern edge of the E Zone to provide better control of the limits of mineralization and to tighten the drill spacing in this area. Holes RD-07-184 and 185 also intersected thick sections of mostly semi-massive sulphides likely reflecting the northern edge of the RCSH. Narrow lenses of massive sulphides are present within these intervals, including up to 15.96% Zinc and 3.67% Lead over 1.6m in RD-07-184, and 9.6% Zinc and 0.20% Lead over 1.55m in RD-07-185.

Now that the final results from the 2007 drilling of the E-Zone have been received, they will be compiled with the historic database and utilized to calculate an updated Resource for the E Zone. The underground development and diamond drilling program is continuing with drilling scheduled to commence in late spring. This program will allow for the drilling of the deposit at the density necessary to complete a Resource calculation for the entire E Zone as it is currently known. In addition, work will commence on the engineering and design criteria necessary to complete a scoping and feasibility study towards development of the deposit.

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. 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. The Ruddock Creek Property is located 100 km north-northwest of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia.

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.