FANDORA

Selkirk Metals Corp. announce a summary of the recently completed exploration program on the Fandora Gold Property, British Columbia, Canada. The 100% owned Fandora Gold Property is located 20 km northeast of Tofino, BC, at the head of Tranquil Inlet. In early June a field crew completed a program of stream and soil sediment sampling, surface and underground geological mapping and prospecting on the property and surrounding area. Soil and stream sampling results indicate that the original Fandora vein system extends to both east and west of the area of the existing development, indicating a potential strike length of at least 5 kilometres. Geological mapping has confirmed that the Fandora vein system is mesothermal in character and as such should continue to significant depth. With the extensions to the Fandora vein and the discovery of additional mineralized structures, the prospective area for gold mineralization within the Fandora Property is now in excess of 25 square kilometers.

Selkirk Metals reported that soil and stream sampling results indicate that the original Fandora vein system extends to both east and west of the area of the existing development, indicating a potential strike length of at least 5 kilometres. In addition to the positive Fandora results there are numerous widespread gold anomalies in both stream sediments (22,903ppb) and soil (807ppb) associated with the Fandora vein system and new areas indicating the presence of at least two other parallel vein systems. These are located to the north and south of the Fandora structure.

In Nov-Dec/01, an economic scoping study was conducted to determine whether the deposit could be made economic by conducting further drilling and drifting with a view to increasing the known mineral resource. The study suggested that if the resource could be increased to 500,000 tonnes at a grade of >10 grams per tonne that an internal rate of return of 17.57% would be achievable. At the same time, Mr. Mark reduced the Campbell resource quoted above to an indicated and inferred resource of 109,000 tonnes at 13.5 grams per tonne (0.43 oz. per tonne).