Sherwood Copper Corporation
TSX VENTURE : SWC

Sherwood Copper Corporation

March 28, 2006 08:30 ET

Sherwood Completes Drilling of High Grade Minto Copper-Gold Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 28, 2006) -

7.9% Copper & 2.6g/t Gold over 6.9m in 06SWC-072, and 5.1% Copper & 2.0 g/t Gold over 10.5m in 06SWC-073

Sherwood Copper Corporation (TSX VENTURE:SWC) today announced the results for a further four holes for which complete assay data is available: three from the infill drilling program in the northern portion of the Minto copper-gold deposit, and one from an exploration target located west of the main deposit. Highlights from these most recent drill holes are tabulated below, while complete results are attached.



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Hole ID From To Interval Copper Gold Silver
(m) (m) (m) (%) (g/t) (g/t)
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06SWC-67 105.9 119.0 13.1 1.93 1.23 8.8
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Including 105.9 113.0 7.1 2.62 1.75 12.7
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06SWC-72 78.3 85.2 6.9 7.89 2.57 33.9
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06SWC-73 106.5 129.0 22.5 2.86 1.12 13.9
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Including 111.0 121.5 10.5 5.08 1.96 25.4
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"These results complete a very encouraging resource definition drill program," said Stephen Quin, President & CEO of Sherwood. "The results from this program have generally exceeded expectations, and we have now begun updating our resource estimate for inclusion in the feasibility study, which is due for completion in April."

2006 Drill Program

As announced December 19, 2005, additional drilling was proposed for the northern third of the Minto deposit in order to more accurately define the gold grades in this portion of the deposit. The remaining two-thirds of the deposit was drilled in 2005 and demonstrated higher gold grades than prior resource estimates due to a lack of gold assays and under-reporting of gold grades in the 1970's drilling. Before commencement of this program, Sherwood had anticipated that gold grades could increase 15-20% above those announced February 7, 2006.

This drill program was completed with 4,128.5 metres drilled in 25 holes: nineteen infill holes for assay and one hole for grinding test material were drilled within the resource area. The latter hole cannot be assayed due to the destructive nature of the tests. The remaining five holes tested two exploration targets; two holes on a low priority but limited seasonal access target and three holes on a higher priority target 350-500m south of the planned open pit mine at Minto. Final assay results are pending for two exploration holes drilled into the target south of the main deposit.

Holes, 06SWC-067, -072, & -073 were drilled into the higher-grade, bornite-rich portion of the deposit (see map at www.sherwoodcopper.com/_resources/map_gallery/Fig7_Drill_Hole_Plan.pdf for hole locations). The higher grade interval within hole 06SWC-067 was approximately the thickness but higher in copper and gold than expected, although the overall intercept was significantly thicker than expected. The interval in 06SWC-072 was narrower than expected but much higher grade in both copper and gold. Hole 06SWC-073 returned a thinner overall intercept with somewhat lower copper and gold grades than expected, although a narrower sub-interval of 10.5 metres did return both higher grades of copper and gold at 5.08% and 1.96g/t, respectively. All comparisons are relative to the width weighted average for a minimum of four previous holes immediately adjacent to the new holes.

Exploration Drilling

Hole 06SWC-070 was one of two holes drilled to test a magnetic anomaly approximately 600m west of the main Minto deposit. The results for the other hole, 06SWC-060, were reported March 20, 2006. The target was a low priority geophysical target which did not have supporting geological or geochemical backup and was drilled ahead of more compelling targets because access to the anomaly area is limited to winter time only. Like hole 06SWC-060, which was drilled into the same target, 06SWC-070 returned only geochemically anomalous copper values and no economically significant mineralized intersections. No further work on this target is expected.

Results for the two remaining exploration holes, which were drilled on the same target immediately south of the planned pit (where hole 06SWC-068 intersected multiple zones of copper-gold mineralization as reported March 24, 2006), should be available within the next week.

Outlook

Sherwood is considering another round of infill drilling in late April and May to further define and upgrade the high-grade bornite-rich core area of the resource, post-feasibility study but pre-production, to assist in mine plan optimization.

Upon completion of the current feasibility study, Sherwood will focus on exploration in areas both north and south of the planned open pit mine, as well as the possible gold-focused program within the current resource limits noted above.

Minto Project

The Minto Project is a high-grade copper-gold deposit located in the Yukon Territory of Canada. In the late 1990's, a feasibility study was completed by prior owners, permits obtained and construction of an open pit mine commenced. Construction was suspended after expenditures of approximately $10 million, due to depressed copper prices. During that period, the mill foundations were poured, the ball and SAG mills were purchased and moved to site, the mine accommodations were constructed and the site was connected to a permitted Yukon River crossing by a 29km production standard access road. All of this infrastructure has been well maintained and would be available for future operations. Sherwood recently commenced mobilization of a mining contractor to site to begin waste stripping, and it has also selected its preferred EPCM and general contractors for the construction of a mining operation at Minto.

Sherwood

Sherwood's successful consolidation of the ownership of the Minto Project provides a unique investment opportunity - participation in an already permitted, partially constructed, high-grade, open pit copper-gold project located in Canada with infrastructure and exploration potential on the property.

Quality Assurance

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Stephen P. Quin, P. Geo., President & CEO for Sherwood Copper Corporation. The exploration activities at the Minto project site are carried out under the supervision of Brad Mercer, P. Geo., Exploration Manager with Sherwood.

The analytical method for the copper, gold and silver analyses is multistage acid digestion of the samples followed by atomic absorption spectroscopy for copper and fire assay with a gravimetric finish for gold and silver carried out by ALS Chemex in North Vancouver. When visible gold is noted in drill core samples or regular fire assay values appear abnormally high, the pulp and screen metallic assay method is used to determine the total gold content and gold contents of different size fractions. This is considered industry best practice when dealing with coarse gold mineralization where a nugget effect is suspected. This determination is accepted as the most representative value and is used in the assay database for resource calculations. Blank and standard samples are used for quality assurance and quality control, and all check samples were within expected ranges. Check assays are carried out by Acme Analytical of Vancouver.

Assay intervals reported herein are drill core lengths. Because the deposit is essentially flat lying and most drill holes reported to date are vertical, true widths are generally expected to be the same as reported core lengths.

Additional Information

Additional information on Sherwood and its Minto Project can be obtained on Sherwood's website at http://www.sherwoodcopper.com.

On behalf of the board of directors
SHERWOOD COPPER CORPORATION

Stephen P. Quin, President & CEO

This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See the Company's filings for a more detailed discussion of factors that may impact expected results.



Details of Drill Results
To accompany Sherwood Copper News Release Dated March 28, 2006
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Hole ID Hole Type From To Interval Copper Gold Silver
(m) (m) (m) (%) (g/t) (g/t)
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06SWC-67 Infill 105.9 119.0 13.1 1.93 1.23 8.8
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Including 105.9 113.0 7.1 2.62 1.75 12.7
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06SWC-68 Exploration Previously released
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06SWC-69 Geotechnical Material for grinding tests - destructive
testing - not assayed
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06SWC-70 Exploration No significant intersection
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06SWC-71 Exploration Results pending, incomplete assay data
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06SWC-72 Infill 78.3 85.2 6.9 7.89 2.57 33.88
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06SWC-73 Infill 68.1 71.5 3.4 2.31 1.49 12.9
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and 106.5 129.0 22.5 2.86 1.12 13.9
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including 111.0 121.5 10.5 5.08 1.96 25.4
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06SWC-74 Exploration Results pending, incomplete assay data
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Contact Information

  • Sherwood Copper Corp.
    Stephen Quin
    President
    (604) 687-7545 or (888) 338-2200
    or
    Sherwood Copper Corp.
    Investor Relations
    (604) 687-7545 or (888) 338-2200
    (604) 689-5041 (FAX)
    www.sherwoodcopper.com