BALTIMORE, MD -- While zinc prices may experience a short-term correction in the next few weeks, the overall long-term trend is bullish.

I'm very glad to see Firestone Ventures (TSX-V: FV) trading just over our buy limit of $0.40. At last look the stock was trading at $0.44 a share.

Now, don't worry if you missed acquiring Firestone under $0.40. You'll most likely get another chance to pick this stock up under our buy limit again. I expect it stock to pull back below the original limit.

So, for those of you who missed the first round of buying I suggest establishing your position then.

But please remember -- while I'm super bullish on this stock and I think Firestone has huge profit potential written all over it, you're going to need patience to let it happen.

Firestone's projects are still in their early stages and will take some time until they actually start pulling zinc out of the ground. In the meantime though, as zinc prices continue to increase, Firestone's valuation should follow.

The explosion in prices over the past few months brings up the reasonable argument that zinc could suffer a severe correction. Generally I would agree. But you have to consider the supply issue as outlined in the chart I showed you yesterday.

LME warehouse stocks have plummeted 63% within a year. And with the growing demand for the base metal, I only expect warehouse stocks to continue to fall.

The bottom line here: Patience is key with Firestone.

Ok, let me tell you about Selkirk Metals (TSX-V: SLK).

Selkrik Metals Corp. (TSX-V: SLK)

Today Selkirk closed at $0.75 per share just over the buy limit if $0.73. We're still going to stick with our original buy limit because I expect this stock to pull back slightly as well. And again, once this stock moves back into our buying range, I suggest that you pick some up.

Like Firestone, Selkirk Metals (TSX-V:SLK) is a mineral exploration and development company. Selkirk is focused on the acquisition and subsequent development of base metal properties, specifically zinc properties, in Canada.

The big difference, however, is that some of Selkirk's properties are a little more advanced. Selkirk actually has a large and diverse portfolio of properties ranging from early to advance stages of exploration and development.

Today, I want to lay out the details on three of Selkirk's seven projects. All three of the projects are located within a short distance from Revelstoke, British Columbia just north of Teck Cominco's Trail Smelter, one of the world's largest fully-integrated, zinc and lead smelting and refining complexes.

These properties are located within the productive Kootenay Arch carbonate belt of zinc-lead-silver mineralization. All three properties have well defined zones of mineralization, geophysical anomalies, and high-grade zinc-lead-silver boulders associated with drill targets.

The LJ Property is located 35 kilometers north of the quiet Canadian city of Revelstoke. LJ was acquired following a review of prospective areas in British Columbia for sulphide deposits. It was assigned to Selkirk in June, 2005, as a result of a plan of arrangement from Cross Lake Minerals Ltd., from which Selkirk was formed.

In October of last year, Selkirk completed a discovery drill hole at LJ that intersected 10.70% Zinc, 4.90% Lead and 9.40 g/t Silver over 5 meters from 132.8 meters to 137.8 meters within 15 meters of 6.81% zinc, 2.69% lead and 3.93 g/t Ag from 122.8 meters to 137.8 meters. (Read the original press release here)

Further exploration at LJ this year will consist of a major airborne electromagnetic and magnetic survey. This will be followed by an aggressive diamond drilling program, prospecting, geological mapping including soil and rock sampling.

Kneb Property
The Kneb Property is located 70 km north northwest of Revelstoke and approximately 30 km south of Selkirk's Ruddock Creek Property.

Previous exploration of the property by Cominco Ltd. in 1998 resulted in the discovery of massive sulphide boulders of sphalerite, galena, and chalcopyrite at the toe of a glacier. The averages of seven samples of the massive sulphide boulders taken by Cominco show 6.9% Zinc, 6.8% Lead and 109.5 g/t Silver.

Selkirk is currently drilling at Kneb now.

Ghost Property
The Ghost Property is located in the northern part of the Kootenay Arc, a 10 to 50 km wide, 400 km long arc-shaped belt of rocks that extends from 50 km south of the US border to 100 km north of Revelstoke.

Previous rock channel sampling reported by Cominco Ltd. in a 1998/99 assessment report assayed up to 6.82% zinc and 0.67% lead over a width of 1.8 meters.

Grab sampling in 2003 by Cross Lake included 11.75% zinc, 1.5% lead and 12.97% zinc, 0.08% lead.

The mineralization consisting of sphalerite and galena is hosted in the Cambrian-aged Badshot Formation a known favorable stratigraphic unit for zinc, lead and silver. The consultants for this phase of exploration are Ted Muraro and Bruce Mawer. Both of these gentlemen are well-known experts in carbonate-hosted base metal deposits and are a huge asset to Selkirk.

The planned exploration program this year on Ghost will consist of geological mapping, prospecting, sampling and location of possible drill sites for a second phase of exploration has been initiated.

Now these are just three of seven of Selkirk's properties. Let quickly give you the highlights from the other four.

Other Selkrik Metals Properties

Ruddock Creek Property

• Selkirk can earn up to a 70% interest.
• Falconbridge and Cominco previously explored the property and reported an inferred resource of approximately 4 million tons grading an average of 10% combined lead and zinc.

Wasi Creek Property, North Central British Columbia

• Bard Ventures Ltd. is currently funding exploration on Wasi Creek. Under the terms of an option agreement Bard can earn a 50% interest in the property with Selkirk being the operator of the program.
• In 1992 the property's former owner, Cominco, intersected 6.35% zinc, 1.07% lead and 16.5gpt silver over 4.8m and 4.98% zinc, 0.68% lead and 18.0gpt silver over 5.0 meters in hole 92-16 north of the high priority area.
• A recent diamond drilling program shows zinc-lead-silver mineralization was intersected in three of the seven drill holes. The significant results from these three holes are: Drill hole WZ-05-5 intersected 3.54% Zinc, 0.41% Lead and 12.1g/t Ag over 1.4 meters; Drill hole WZ-05-6 intersected 2.10% Zinc, 0.14% Lead and 9.21g/t Ag over 14.15 meters including 3.39% Zinc, 0.14% Lead and 11.46g/t Ag over 4.5 meters; Drill hole WZ-05-7 intersected 6.43% Zinc, 0.81% Lead and 14.3g/t Ag over 1.6 meters, and 2.55% Zinc, 0.12% Lead and 7.8g/t Ag over 1.0 meter.
• Selkirk and Bard are planning to conduct further exploration on the Wasi Creek including trenching, prospecting and geological mapping. Once target definition has been completed diamond drilling would be undertaken to test priority targets.

Ingenika-Swannell Property

• The property contains three mineral claims, totaling 54 units and encompassing 1350 hectares.
• Grab sampling assayed up to 64.2% lead and 1,870 g/t silver and at the On-ward south shaft grab sampling assayed up to 25.62% zinc, 16.28% lead and 139.8 g/t silver.
• There was a resource estimate completed in 1969 on the Ingenika Mine of 22,677 tons grading 119.9g/t silver, 9.8% lead and 6.1% zinc.
• Selkirk optioned 100% interest in the adjacent Swannell property from Teck Cominco in late April 2001, which includes seven mineral claims (76 units) encompassing 1,900 hectares and covers the Swannell zinc, lead and silver showings.
• Drilling in the Swannell area intersected several base metal horizons including 5.82% zinc, 3.17% lead, 28.2g/t silver over 3.0 meters and 14.5% zinc, 4.3% lead and 37.7g/t silver over 1.7 meters and 5.83% zinc, 1.29% lead, 15.3g/t silver over 9.6 meters.

Sheraton-Timmins Property

• The Sheraton Timmins Property consists of two surface and mining rights leases (20 units), 28 unpatented mining claims (286 units) and three patented lots (12 units) totaling 5094 hectares.
• A significant amount of work has been carried out on the Sheraton-Timmins Property. From January 1997 to December 2001, Cross Lake completed 80 diamond drill holes totaling 30,974 meters; geochemical surveys, including humus, soil and Mobile Metal Ions sampling; geological surveys, such as lithogeochemistry and petrographic studies; preliminary environmental and metallurgical studies; and geophysical surveys, including airborne and ground magnetometer, induced polarization, self-potential, surface and borehole pulse electromagnetic and mise-a-la-masse.
• Selkirk granted Kakanda Development Corp. an option to earn a 50% undivided interest in the Property in consideration of 1,000,000 treasury shares and $1,750,000 (in stages) of work expenditures.
• Only about one-third of the Property has been explored in any detail
  

Selkirk's properties represent a huge upside for the company. But like I said yesterday with any venture class investment, management is a key factor.

Let me tell you about Selkirk's management team.

Gordon Keevil , B.Sc. (Hon), P.Geo. (Alta.)
President, Director
Gordon Keevil graduated from Queen's University with a Bachelor of Science (Hon.) in Geology and is a designated Professional Geologist in the Province of Alberta. He brings to the Company over 25 years of technical and corporate expereince related to the management and operation of resource companies. Mr. Keevil has focused his professoinal efforts towards junior listed companies involved in mineral exploration and development.

Jim Miller-Tait, B.Sc., P.Geo.
Vice President, Exploration
Vice President, Exploration of Cross Lake since November 1998; Project Geologist of Cross Lake since January 1998 to November 1998; President, Sikanni Mine Development Ltd. since January 1997.

Theodore Muraro B.Sc., P.Geo
Director
Mr. Muraro has over 40 years of experience in the mineral exploration industry. Between 1956 and 1990, Mr. Muraro worked at Cominco Ltd. in various positions including Chief Geologist and internal Consulting Geologist to the Exploration Division. Mr. Muraro has exploration experience in North America, Europe, Africa and Asia and in the last 10 years has worked as a geological consultant. He holds a bachelor of Applied Science Degree in Geological Engineering from the University of British Columbia and a Masters Degree in Geological Engineering from Queens University and completed post-graduate studies at Stanford University.

J. Brian Kynoch, B.A.Sc., P.Eng.
Director
Interim President of Cross Lake from January 2002 to December 2003; Chief Operating Officer of Cross Lake from October 1999 to January 2002 and Director since April 1996; Senior Vice President and Chief Operating Officer, Imperial Metals Corporation, since February 1995, Director since May 1996 and appointed President in January 2003; Colony Pacific Explorations Ltd., Director from March 1996 to April 2001.

Don Sheldon
Director
Don Sheldon is a Director of Selkirk Metals Corporation and is also the President and owner of D.S. Management Ltd. D.S. Management has operated since 1980 and is responsible for the management of a number of other resource exploration companies including Cross Lake Minerals (CRN), Bard Ventures (CBS), and Desert Gold Ventures Inc. (DGV). A 1969 MBA Graduate from the University of Western Ontario, Don Sheldon has an extensive knowledge of the finance and management fields. He has experience in financing and operating junior resource exploration ventures.

At the beginning of today's letter I mentioned that making a profit with Firestone will require patience. The same thing is true with Selkirk. Fact is, no one ever made any real money acting hasty.

The two companies we've talked about this week, Firestone Ventures (TSX-V: FV) and Selkirk Metals (TSX-V: SLK), represent a unique opportunity to take advantage of higher zinc prices.

While zinc prices may experience a short-term correction in the next few weeks, the overall long-term trend is bullish.

I wanted to bring you these opportunities now because I think the overall metals market has stabilized and we should see our buyers come back soon.

Once again: We're sticking to our buy limit of $0.73 for Selkirk. Watch the stock closely over the next few days and buy once it slips below that level.

- Luke Burgess