SelectCore completes asset acquisition of Canquest Communications

For Immediate Release 08/01/2007

WINDSOR, ON: Further to the news release dated July 9th, 2007, SelectCore Ltd. (the "Company") (TSX-V: SCG), today announced that it has closed its acquisition of substantially all of the assets of Canquest Communications (Canada) Inc. and its subsidiary, Canquest Communications (Wireless) Inc. (collectively, "Canquest").

Pursuant to an asset purchase agreement dated July 6, 2007 (the "Asset Purchase Agreement"), the Company agreed to pay an aggregate amount of $5,722,353 of which $1.5 million was satisfied through the issuance of 5 million common shares at a deemed price of $0.30 per share, the assumption of $2,422,353 in liabilities and the payment of $1,800,000. In addition, the Company issued an aggregate 500,000 common share purchase warrants (the "Warrants") which entitles the holder thereof to purchase one (1) common share (a "Warrant Share") in the capital of the Company for a period of eighteen (18) months from the date of issuance at an exercise price of $0.30 per Warrant Share. The purchase price is subject to adjustments pursuant to the terms and conditions of the Asset Purchase Agreement. The shares, Warrants, Warrants Shares (which are subject to a four-month hold period) and $291,167.12 have been paid into escrow pursuant to the terms of the Asset Purchase Agreement.

Canquest, based in Chatham, Ontario, is a prepaid telecommunications and transaction-based technology company. It is a well-respected leader in the industry, servicing many of Canada's largest incumbent phone companies and national-chain retailers.

Keith McKenzie, CEO of the Company stated "This acquisition provides us with people, resources and technology that will allow us to capitalize on the Company's product pipeline and retail distribution channel. With this new team, we believe we can establish a solid foundation for continued growth."

Ryan Deslippe, President of the Company further commented "This has been an exciting and transformational event for SelectCore. The hard work and dedication of our transaction team and advisors made this acquisition possible. We expect a seamless integration of our operations, and look forward to working with our new colleagues."

The Company would also like to announce that it has granted an aggregate 2,575,000 stock options to its directors, officers and certain service providers of the Company. Each option is exercisable at $0.20 per share until August 1, 2009.

About SelectCore:
SelectCore Ltd. is in the business of providing prepaid telecommunication solutions to credit-challenged consumers across Canada. The offerings, which include wireless, home phone, long distance and broadband internet, are marketed through the company's nation-wide retail distribution channel. In addition to its long-term partnerships with Canada's major carriers, the company also maintains its own telecom network infrastructure. Profit 100 ranked SelectCore one of Canada's fastest-growing companies in 2006 and again in 2007.



Forward Looking Statements: This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". SelectCore is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. SelectCore cannot assure investors that actual results will be consistent with these forward looking statements and SelectCore assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

 The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this release.

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