Sherwood Copper Corporation
TSX VENTURE : SWC

Sherwood Copper Corporation

December 20, 2006 11:40 ET

Sherwood Reports Development Progress at Minto Copper-Gold Project

Mine Construction Approximately 50% Complete and on Schedule for Q2-2007 Production Start-up

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 20, 2006) - Sherwood Copper Corporation (TSX VENTURE:SWC) today reported substantial progress in the construction of its high-grade Minto copper-gold project in the Yukon and provided photographs of recent activities. Mine construction is approximately 50% complete while waste pre-stripping in the open pit is more than 60% complete.

In recent weeks, the SAG and ball mills have been placed on their foundations, and flotation cells, water tanks, tailings thickener, concentrate storage tank and other equipment set in place within the mill building. Substantial progress has been made on the mill building itself, as evidenced by the photographs linked to this press release. The MCC electrical room is substantially complete and electrical control panels installed. Three 1.4MW diesel generators have been delivered to site and are operational, providing power during construction. The concentrate storage shed and water retention dam are also substantially complete. More than 60% of the waste pre-stripping has been completed within the open pit.

"Development of a high grade, open pit, copper-gold mine at Minto continues to advance at a rapid rate," said Stephen Quin, President & CEO of Sherwood Copper Corp. "We are very pleased with the progress being made by our construction managers, JDS Energy & Mining, in keeping the project advancing ahead of the schedule laid out in the feasibility study. Substantial credit is also due to our principal contractors, Clark Builders (General Contractor), Pelly Construction (contract mining), Hatch (engineering & procurement), Gisborne (installation) UEE (Electrical) and others for not only maintaining but actually accelerating our development schedule while keeping costs controlled," he said. "We anticipate production commencing during the second quarter of 2007, well ahead of the forecast third quarter 2007 set out in the feasibility study."

Please click www.sherwoodcopper.com/slideshow to view a slide show of the development progress being made at the Minto project.

Minto Project

The Minto Project is a high-grade copper-gold deposit located in the Yukon Territory of Canada. As announced on July 10, 2006 and updated August 28, 2006, Sherwood has completed a feasibility study for the development of the Minto Project as a high grade, open pit copper-gold mine, which study demonstrated robust returns. As noted above, development is now well underway. In parallel with its on-going development activities, Sherwood has made substantial progress on the exploration front, identifying and delineating a significant new area of high grade copper-gold mineralization at Area 2, just south of the open pit currently being developed.

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.

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.

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

Contact Information

  • Sherwood Copper Corporation
    Stephen Quin
    President
    (604) 687-7545 or (888) 338-2200
    or
    Sherwood Copper Corporation
    Brad Kopp
    Investor Relations
    (604) 687-7545 or (888) 338-2200
    or
    Sherwood Copper Corporation
    Kristy Reynolds
    Investor Relations
    (604) 687-7545 or (888) 338-2200
    (604) 689-5041 (FAX)
    Website: www.sherwoodcopper.com