its previously announced non-brokered private placement. Further to the Company�s news releases of October 8 and

Share, for aggregate gross proceeds to the Company of $1,007,100.

Selkirk paid Finders' Fees in the aggregate amount of $19,280, being 5% of the gross proceeds raised by the Finders.

As subscribers to the private placement, Gordon Keevil, Jim Miller-Tait, Ted Muraro and Brian Kynoch, directors

of Selkirk, acquired directly an aggregate of 516,666 FT Shares. No Finders' Fees were paid for their participation.

The participation by insiders in the private placement is considered to be a �related party transaction� as defined

minority shareholder approval requirements of the Rule as neither the fair market value of the securities being issued

nor the consideration being paid exceeds 25% of Selkirk�s market capitalization.

The FT Shares are subject to a hold period that expires on March 8, 2009.

On Behalf of the Board of Directors:

Gordon Keevil, President

888-807-4526.

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 forwardlooking

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