SLK Silk Road Energy Inc

Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased
to announce that through its 97.4% owned subsidiary, Catface Copper Mines
Limited, it has entered into a Memorandum of Understanding with the Ahousaht
First Nation concerning the Catface Porphyry Copper Project (the "Property").
This agreement represents an important event for the Company as it now allows
for further exploration of this important undeveloped copper deposit. This
project adds another advanced stage strategic asset to the active development
portfolio of the Company and provides exposure to another important commodity.
Selkirk is now in the final process of preparing for an initial diamond drilling
program that will commence as soon as possible.


Previous exploration of the Catface deposit was conducted by Falconbridge
Limited from discovery in 1960 through 1989 and included extensive surface
exploration and several phases of surface and underground diamond drilling from
an 825 metre adit through the centre of the deposit. This exploration resulted
in the discovery of three zones of mineralization (Cliff, Irishman Creek and
Hecate Bay Zones) that are thought to reflect a larger porphyry system. Previous
diamond drilling results include; 155.4 metres of 0.63% Cu in hole S-39, 380.98
metres of 0.58% Cu in drill hole S-06 and 349.59 metres of 0.52% Cu in drill
hole S-18.


In 1989, following the completion of the last significant program on Catface,
Falconbridge retained SRK Consulting to complete an independent resource
calculation of the portion of the Cliff Zone that had been drilled in sufficient
detail to warrant such a calculation. This calculation, which was completed
before the implementation of 43-101 standards, is summarized in the following
table:




Cliff Zone Drill Indicated Mineral Resource(i)
(not to 43-101 standards)

---------------------------------------------------------------------------
                    SRK August 1990 estimate       SRK August 1990 estimate
Cutoff Grade % Cu       with no adit samples     with adit samples included
-----------------   ------------------------     --------------------------
                     Tonnage           Grade        Tonnage           Grade
                     Million               %        Million               %
                      tonnes              Cu         tonnes              Cu

0.40                  76.101            0.52         78.282            0.53

0.31                 156.926            0.43        158.442            0.44

0.30                 167.658            0.42        169.168            0.43

0.15                 388.437            0.31        389.686            0.31

0                    607.510            0.21        607.510            0.21
---------------------------------------------------------------------------

(i) Compiled for Falconbridge Limited by SRK in 1990, prior to 
    implementation of National Instrument 43-101, and therefore not to be 
    relied on. While not completed in accordance with NI 43-101, these
    calculations were made using accepted and proven engineering practices 
    and in the opinion of the Company provide an indication of the 
    potential of the property and are relevant to ongoing exploration.



The Cliff Zone has only been partially defined and has the potential to host
additional resource. SRK and Falconbridge also developed a conceptual open pit
development model where the waste to ore stripping ratio was calculated to be a
favourably low 0.7 to 1.0. In this study the "in pit" resource was 123,804,000
tonnes grading 0.46% copper.


In addition to the Cliff Zone, two other zones of copper mineralization have
been discovered to date outlining the potential to define a much larger porphyry
system. The most important zone outside of the Cliff Zone is the Hecate Bay
Zone. It is outlined by a copper soil geochemical anomaly and coincident Induced
Polarization (IP) geophysical anomaly similar in size and intensity as that over
the Cliff Zone. Other than one historic drill hole, which intersected 0.11%
copper over the last 46 metres, it has not been tested by diamond drilling and
in addition to the Cliff Zone the Hecate Bay Zone will be a focus of the planned
2008 program.


With the completion of the Memorandum of Understanding, Selkirk has filed for an
amended permit to allow for exploration to commence as quickly as possible. The
first phase program planned for this spring will consist of a minimum of 3,000
metres of diamond drilling, additional metallurgical testing and recommended
baseline environmental studies. The drilling will focus on the Cliff and Hecate
Bay Zones and will be conducted using surface access.


The Catface Copper Property is owned 100% by Catface Copper Mines Limited which
is owned 97.4% by Doublestar Resources Ltd., a wholly owned subsidiary of
Selkirk Metals Corp. The Property is located on Catface Mountain, on the West
Coast of central Vancouver Island, BC. Exploration work is conducted under the
supervision of the Company's Qualified Person and Vice President of Exploration,
Jim Miller-Tait, P.Geo.


"The Memorandum of Understanding with the Ahousaht First Nation has formed the
basis of a meaningful and positive relationship between Selkirk and the
Ahousaht. Selkirk will work closely with the Ahousaht to assure that any
development of the Catface Property will be to the benefit of the local
communities and in the interests of the region at large," stated Gordon Keevil,
President.


On Behalf of the Board of Directors:

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 the Company 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
our public filings at www.sedar.com for further information.

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