Sherwood Copper Corporation
TSX VENTURE : SWC

Sherwood Copper Corporation

October 03, 2005 09:00 ET

Sherwood Confirms High Grade Copper & Gold at Minto Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 3, 2005) -

Intercepts Include 5% Copper over 10.5m and 2.5% Copper over 36.6m

Sherwood Copper Corporation (TSX VENTURE:SWC) is pleased to announce further results from its resource confirmation and expansion drill program currently underway at the 100% owned, high-grade Minto copper-gold project in the Yukon. Highlights of these results are provided below and complete results are attached.



Inter- Inter- Cop- Sil-
Hole ID Hole Type From To val val per Gold ver
--------- ------------ ---- --- ----- ----- --- ----- ----
(m) (m) (m) (feet) (%) (g/t) (g/t)
---- --- ----- ----- --- ----- ----
05SWC-013 Confirmation 45.8 68.9 23.1 75.8 3.33 1.51 14.2
including 54.1 63.6 10.5 34.4 5.05 1.71 22.6
05SWC-015 Confirmation 53.2 78.9 25.7 84.5 2.42 0.94 9.9
including 62.0 78.9 19.9 65.3 2.93 1.12 11.9
05SWC-017 Confirmation 48.2 84.8 36.6 120.2 2.52 0.45 8.1
including 58.1 84.8 26.7 87.6 3.16 0.84 10.0


"These results are part of our due diligence leading up to completion of an updated feasibility study in early 2006," said Stephen Quin, President & CEO of Sherwood. "These results continue to confirm the high grade nature of the Minto deposit, which is an outstanding project - a permitted, high grade copper-gold deposit amenable to open pit mining that is located in one of the best mining jurisdictions in Canada. In addition, the main deposit is open to further resource additions and the overall property has excellent exploration potential."

2005 Drill Program

The 2005 drill program is designed with three objectives (1) to independently confirm the existing resource, (2) to upgrade the approximately 8% of inferred resource within the proposed pit boundaries to the indicated category and (3) to expand the overall resource on the margin of the existing resource. Approximately 4,900m drilling has been completed to date. Assays for approximately 20 completed holes are pending and approximately 10-12 more holes will be drilled prior to completion of the 2005 program.

Confirmation drill holes are drilled within the resource limits as part of the first objective noted above. Mineralized intervals are generally comparable to those anticipated from adjacent older holes with the exception of gold, which continues to return significantly higher values than indicated by prior drilling.

Some of the shallower intercepts, above the main mineralized zone, exhibit varying degrees of oxidation, which is typical of historic intercepts in the Minto deposit.

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. As announced June 27, 2005, the Minto Project contains measured and indicated resources of 9.2 million tons at a grade of 1.8% copper, 0.016oz/t gold and 0.2oz/t silver, and an additional inferred resource of 0.8 million tons grading 1.4% copper, 0.013oz/t gold and 0.2oz/t silver. The mineral resources for the Minto Project were estimated by Giroux Consulting. Gary Giroux, P.Eng. is the Qualified Person under National Instrument 43-101 responsible for the estimate.

To view the Minto Project Drill Hole Location Map, please click the following link: http://www.ccnmatthews.com/docs/Drill1.pdf

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 carried out by ALS Chemex in North Vancouver. Blank and standard samples are used for quality assurance and quality control, and all check samples were within expected ranges.

Assay intervals reported are drill core lengths. Because the deposit is essentially flat lying and all drill holes are vertical, true widths are 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 www.sherwoodcopper.com.

ON BEHALF OF THE BOARD OF DIRECTORS

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.



Sherwood Copper Corporation
---------------------------
Table of Results to Accompany News Release #05-18

Inter- Inter- Cop- Sil-
Hole ID Hole Type From To val val per Gold ver
--------- ------------ ---- --- ----- ----- --- ----- ----
(m) (m) (m) (feet) (%) (g/t) (g/t)
---- --- ----- ----- --- ----- ----
05SWC-013 Confirmation 45.8 68.9 23.1 75.8 3.33 1.51 14.2
including 51.2 69.9 18.7 61.4 3.86 1.74 16.6
including 54.1 63.6 10.5 34.4 5.05 1.71 22.6
05SWC-015 Confirmation 53.2 78.9 25.7 84.5 2.42 0.94 9.9
including 62.0 78.9 19.9 65.3 2.93 1.12 11.9
05SWC-016 Confirmation 30.8 67.0 36.2 118.6 1.33 0.42 5.2
including 43.8 67.0 23.2 76.3 1.55 0.46 5.7
05SWC-017 Confirmation 48.2 84.8 36.6 120.2 2.52 0.45 8.1
including 58.1 84.8 26.7 87.6 3.16 0.84 10.0



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Contact Information

  • Sherwood Copper Corporation
    Stephen Quin
    President
    (604) 687-7545 or 1-888-338-2200
    or
    Sherwood Copper Corporation
    Investor Relations
    (604) 687-7545 or 1-888-338-2200
    www.sherwoodcopper.com