Sherwood Copper Corporation

Sherwood Copper Corporation

December 18, 2007 11:21 ET

Sherwood Reports Phase 2 Mill Expansion at Minto Copper-Gold Mine Completed Ahead of Schedule

Commissioning Underway; Higher Copper and Gold Production in 2008 & Beyond

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 18, 2007) - Sherwood Copper Corporation (TSX VENTURE:SWC)(TSX VENTURE:SWC.DB) today announced that it has completed the Phase 2 mill expansion, from 1,563 tonnes per day to 2,400 tonnes per day, at its high grade Minto copper-gold mine ("Minto Mine") ahead of schedule. Commissioning of the mill expansion is in progress and will continue into January, resulting in significant copper-gold production in 2008 and beyond.

"The completion of the Phase 2 mill expansion at our Minto Mine, ahead of schedule, is a significant achievement in the current construction environment," said Stephen Quin, President & CEO. "This should push our production well over 50 million pounds of copper in 2008, while the recently announced pre-feasibility study illustrates how additional production growth can be achieved. The achievement of this significant milestone is a credit to Sherwood's operating personnel at the Minto Mine, Construction Managers JDS Energy & Mining, General Contractors Clark Builders, key contractors Gisbourne and Rees Electric and engineers Hatch Ltd. Pelly Construction is the mining contractor."

Phase 2 Mill Expansion

As announced August 28, 2006, the detailed feasibility study set out a phased expansion of the process plant at the Minto Mine, with Phase 1 commissioning at a throughput rate of 1,563 tonnes per day followed by an expansion to accommodate increased throughput to 2,400 tpd approximately one year after operations commenced. On April 11, 2007, Sherwood announced its intent to accelerate the expansion of the Phase 2 mill expansion, targeting completion by the end of 2007. On May 31, 2007, Sherwood announced that Phase 1 was essentially complete, ahead of schedule. Commercial production was declared effective October 1, 2007. The Phase 2 mill expansion was completed on December 15, 2007, more than two weeks ahead of the accelerated schedule announced in April, and began processing ore that day. Commissioning of Phase 2 will continue through January 2008, with the principal focus being on ensuring sufficient capacity to handle the filtration of tailings and copper concentrates, since the current crushing, grinding and flotation capacity was sized up during the Phase 2 expansion to accommodate up to the 3,500 tonne per day capacity targeted in a Phase 3 expansion.

The pre-feasibility study, the results of which were announced December 12, 2007, lays out the basis for a Phase 3 mill expansion, to 3,500 tonnes per day of throughput, and incorporates a significant portion of the Area 2 resources, resulting in a more than 40% increase in copper and gold production versus the detailed feasibility study. Exploration subsequent to the resource estimates used in the pre-feasibility study suggests additional potential beyond that laid out in the pre-feasibility study.

Technical Report Filed

A NI 43-101 compliant Technical Report on the Phase 3 mill expansion and mining of the Area 2 deposit will be filed on SEDAR today and should be available for access under Sherwood's profile at within two days.

Minto Project

The Minto Mine is a high-grade open pit copper-gold deposit located in the Yukon Territory of Canada. Sherwood acquired the Minto Project in June 2005 and, in just two years from its acquisition, completed a bankable feasibility study, arranged project financing, and built a $100 million open pit copper-gold mine. Commercial production commenced on October 1, 2007. In parallel with these development activities, Sherwood has been running an exceptionally successful exploration program that has resulted in multiple discoveries of high grade copper-gold mineralization across its Minto Mine property. Sherwood plans to continue this "growth from within" strategy along with further operational optimizations in its relentless pursuit of value.


Sherwood's successful consolidation of the ownership of the Minto Project provides a unique investment opportunity - participation in a high-grade, open pit copper-gold mine located in Canada with tremendous 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 and Ian Berzins, P.Eng., General Manager of the Minto Mine.

Additional Information

Additional information on Sherwood and its Minto Project can be obtained on Sherwood's website at

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.

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 Corp.
    Stephen Quin
    (604) 687-7545 or (888) 338-2200
    Sherwood Copper Corp.
    Brad Kopp
    (604) 687-7545 or (888) 338-2200
    Sherwood Copper Corp.
    Kristy Reynolds
    (604) 687-7545 or (888) 338-2200
    (604) 689-5041 (FAX)