SLK Silk Road Energy Inc

Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased
to announce the discovery of additional showings near the U Zone. The U Zone is
located 2,100 m west of the deepest drilling of the E Zone, approximately
halfway along the 5.5 km 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.


A new mineralized occurrence was located late in the summer field season
approximately 600 m down slope south of the U Zone. This is in an area which has
no record of any previously known showings or mineralized float samples. The
mineralization occurs on a cliff face well below the tree line in an area of a
recent slide. Grab samples of massive sulphide mineralization were collected
from the base of the cliff where an exposure of in situ massive sphalerite and
galena was located.


The observed attitudes of the geologic units in this area are similar to the
upper showings, so it is likely that it represents a different stratigraphic
horizon than is exposed at the U Showings in the Cirque Valley. No systematic
sampling was carried out in 2007, however the 2 grab samples returned 17.61% Zn,
6.41% Pb, 16.0 ppm Ag and 7.32% Zn, 0.03% Pb. Heavy tree cover in this area is
likely responsible for this showing not having been located prior to this year.
Additional mapping, sampling and prospecting will be carried out in this area
early in the 2008 program in order to further define the attitude and extent of
this mineralization. This lower showing displays a similar orientation and
spatial relationship to the U Zone as the E Zone does to the overlying G and M
Zones.


This new discovery adds significantly to the potential of the Property as it
clearly indicates a new horizon of zinc-lead rich massive sulphides similar to
the overlying U Zone, part of the RCSH that has been the focus of exploration to
date. In 2008, Selkirk will focus on this new discovery as well as the new
thicker zone of mineralization below the U Zone showings as it continues to
build on the Resource now being developed within the E Zone to the east.


The underground development and drilling Program on the E Zone is continuing as
planned with the anticipated commencement of underground diamond drilling in
April when the decline reaches a depth of approximately 800 meters. The decline
will continue beyond this point to a projected length of one kilometer where it
will intersect the E Zone mineralization approximately 1200 meters down dip from
where it outcrops at surface. The Ruddock Creek Project is now a year round
operation that is expected to continue into mining operations as the Project
develops.


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.


Corporate Update

The Company is pleased to announce that Mr. Michael M. Sanderson has joined
Selkirk as Project Manager responsible for the underground development portion
of the Ruddock Creek Project.


Mr. Sanderson has over 25 years experience in mining operations and mine
management of mining projects in British Columbia, Manitoba, Ontario and
Colorado. He has held positions ranging from Mine Manager, Mine Superintendent,
General Mine Foreman, Shaft Captain to Lead Miner/Trainer. He holds a degree in
Business Administration from B.C. Open University and completed Mine Engineering
studies at the University of British Columbia.


The Company has granted incentive stock options to Mr. Sanderson to purchase
150,000 shares of the Company at a price of $0.55 per share. The options expire
on January 18, 2013.


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

Gordon Keevil, President

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.

Silk Road Energy (TSXV:SLK)
Historical Stock Chart
From Jun 2024 to Jul 2024

Silk Road Energy (TSXV:SLK)
Historical Stock Chart
From Jul 2023 to Jul 2024