VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: SWC.DB) today
announced the results of National Instrument 43-101 compliant,
mineral resource estimates for its high grade Minto copper-gold
mine in Yukon, Canada. New mineral resource estimates were
completed for the Area 118 and the Ridgetop deposits, while those
for the Main Minto and Area 2 deposits were updated to incorporate
the results of 101 new holes drilled across these four deposits in
2007. These estimates do not include results from any of the
drilling conducted in 2008, where more than 51 holes have been
completed to date and results for 16 have been released; assays are
pending for the balance. Mineral resources and reserves were also
updated to account for mining in 2006-07. Net of all adjustments,
contained copper in mineral resources increased by 50% and precious
metals by approximately 40% as a result of drilling in 2007. This
follows on from a 60% gain in contained copper in mineral resources
based on drilling in 2006, for a 140% gain in copper resources in
two years.
Minto Mine - Mineral Resources by Classification for All
Deposits (at a 0.5% copper cut-off)
---------------------------------------------------------------------------
Con- Con- Con-
tained tained tained
Class- Cu Gold Ag
ifica- Tonnes Copper Gold Silver (000's (000's (000's
tion (000's)(i) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
---------------------------------------------------------------------------
Measured
(M) 11,460 1.78 0.66 6.85 448,770 240 2,520
---------------------------------------------------------------------------
Indicated
(I) 7,830 0.91 0.29 3.24 156,460 70 820
----- ---- ---- ---- ------- -- ---
---------------------------------------------------------------------------
Sub-total
(M+I)(ii) 19,280 1.42 0.51 5.38 604,700 320 3,340
---------------------------------------------------------------------------
Additional
Inferred 15,070 0.89 0.25 2.61 294,430 120 1,260
---------------------------------------------------------------------------
(i)Rounded to the nearest ten thousand
(ii)Totals may not add exactly due to rounding
This resource contains 604.7 million pounds of copper ("Cu"),
320,000oz of gold ("Au") and 3.3million oz of silver ("Ag") in the
measured and indicated mineral resource categories using a 0.5%
copper cut-off, with an additional 294.4 million pounds of copper,
120,000oz of gold and 1.26 million oz of silver in the inferred
mineral resource at that same cut-off, representing an increase of
50%, 40% and 38% in total contained copper, gold and silver,
respectively.
"Sherwood's exploration team delivered another stellar year at
the Minto Mine," said Stephen Quin, Sherwood's President & CEO.
"Contained copper in resources increased 50% in one year and 140%
in two years. While most of the gain in 2007 was in the inferred
category, we are already infill drilling the two 2007 discoveries
(at Area 118 and Ridgetop) to upgrade the confidence level in these
areas, as well as continuing to pursue opportunities for yet
further increases in resources at the Minto Mine," he said. "With
these results in hand, not only are we looking to continue to
increase resources, but also to take advantage of the potential to
increase the throughput capacity of the Minto mill by grinding
coarser, which could provide opportunities to increase production
levels well beyond those currently planned. In addition, we also
plan to evaluate the resource potential at cut-offs below 0.5%
copper, to determine the overall potential of this mineralized
system."
Minto Main Deposit
The measured and indicated mineral resource estimate for the
Minto Main deposit using a 0.5% copper cut-off is 7.97 million
tonnes at a grade of 1.84% Cu, 0.66g/t Au and 7.6g/t Ag for a total
contained metal of 323.3 million pounds of copper, 170,000oz of
gold and 1.96 million oz of silver. Approximately 1.24 million
tonnes of mineral resources were removed from the Minto Main
deposit by open pit mining during pre-stripping and production
mining from the Minto open pit up to Dec. 31, 2007. Mineral
resources are not mineral reserves and not all of the mined
resource was processed through the Minto mill; some material was
placed in stockpiles for later processing. Reserve reconciliation
for the Minto Mine is discussed in the section below entitled
"Minto Mine Reserve Reconciliation".
Minto Mine Main Deposit - Mineral Resources by Classification
(at a 0.5% copper cut-off)
----------------------------------------------------------------------------
Con- Con- Con-
Ton- tained tained tained
Class- nes Cu Gold Silver
ifica- (000's) Copper Gold Silver (000's (000's (000's
tion (i) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
----------------------------------------------------------------------------
Measured
(M) 6,790 1.98 0.72 8.11 296,390 160 1,770
----------------------------------------------------------------------------
Indicated
(I) 1,190 1.03 0.30 4.95 27,020 10 190
----- ---- ---- ---- ------ -- ---
----------------------------------------------------------------------------
Sub-total
(M + I)
(ii) 7,970 1.84 0.66 7.65 323,300 170 1,960
----------------------------------------------------------------------------
Additional
Inferred 60 0.73 0.15 3.58 970 0 10
----------------------------------------------------------------------------
(i)Rounded to the nearest ten thousand
(ii)Totals may not add exactly due to rounding
The Mineral Resource estimate for the Minto Mine was originally
completed by Gary Giroux P.Eng of Giroux Consulting Ltd. in April
2006. Ali Shahkar P.Eng. of Lions Gate Geological Consulting Ltd.
(LGGC) updated the Mineral Resource estimate for the Main Zone in
February 2008 to include data from five new drill holes and the
open pit outline as of December 31, 2007. The estimate was
completed in Gemcom Software (Gems) using a three dimensional block
model (5m by 5m by 3m (vertical) block size) and ordinary kriging
method.
Area 2 Deposit
The measured and indicated mineral resource estimate for the
Area 2 deposit using a 0.5% copper cut-off is 11.3 million tonnes
at a grade of 1.13% Cu and 0.40g/t Au for a contained metal total
of 281.4 million pounds of copper, 150,000oz of gold and 1.4
million oz of silver. This represents a more than 33% gain in
contained copper and nearly a 25% gain in ounces of gold and a 31%
gain in ounces of silver in the measured and indicated categories
over the previous resource estimate for Area 2. An additional
inferred mineral resource contains 3.5 million tonnes at a grade of
0.77% Cu, 0.25g/t Au and 2.54g/t Ag or 59.9 million pounds of
copper, 30,000oz of gold and 290,000 oz of silver, inclusion of
which would significantly increase the net gains in contained
copper, gold and silver versus prior estimates. The largest gains
were made in the southwest, where Area 2 transitions into Area 118
in an approximately 100m wide corridor. All of the mineral
resources in this transition corridor were assigned to Area 2. In
addition, some additional gains were made in the south to southeast
side of Area 2. Area 2 and Area 118 are essentially different
segments of a much larger deposit subsequently separated by a zone
of late brittle faulting.
Area 2 Deposit - Mineral Resources by Classification (at a 0.5%
copper cut-off)
----------------------------------------------------------------------------
Con- Con- Con-
Ton- tained tained tained
Class- nes Copper Gold Silver
ifica- (000's) Copper Gold Silver (000's (000's (000's
tion (i) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
----------------------------------------------------------------------------
Measured
(M) 4,670 1.48 0.57 5.00 152,380 90 750
----------------------------------------------------------------------------
Indicated
(I) 6,640 0.88 0.29 2.93 129,440 60 630
----- ---- ---- ---- ------- -- ---
----------------------------------------------------------------------------
Sub-total
(M + I)
(ii) 11,310 1.13 0.40 3.79 281,390 150 1,380
----------------------------------------------------------------------------
Additional
Inferred 3,530 0.77 0.25 2.54 59,920 30 290
----------------------------------------------------------------------------
(i)Rounded to the nearest ten thousand
(ii)Totals may not add exactly due to rounding
Susan Lomas, P.Geo. of LGGC estimated the mineral resources for
Area 2 in June, 2008. The estimate was completed in Gemcom Software
(Gems) using a three dimensional block model (15m by 15m by 3m
(vertical) block size). The mineralization was interpreted into 11
different domains and wireframes were created and geostatistical
analysis was completed on the assay and 3m composite data for each
of the metals.
The grades for copper and gold were interpolated into the block
model using ordinary kriging, inverse distance squared and nearest
neighbour method and the silver grades were interpolated using
inverse distance squared and nearest neighbour method. The copper
and gold tonnage and grade values were tabulated using the ordinary
kriging interpolation results for the measured and indicated
mineral resources and the inverse distance squared results were
reported for the inferred mineral resources. Silver tonnage and
grades were reported using the inverse distance method results.
Sherwood currently has two drills turning at Area 2 and Area
118, infill and step-out drilling in order to upgrade more of this
inferred resource into the measured and indicated categories.
Area 118
Discovered in 2007, there was only one year's drilling at a
relatively wide space available at Area 118 for resource
estimation, thereby only an inferred mineral resource could be
calculated. The inferred mineral resource estimate for the Area 118
deposit, using a 0.5% copper cut-off, is 6.59 million tonnes at a
grade of 0.97% Cu, 0.27g/t Au and 3.07 g/t Ag for a contained metal
total of 141.4 million pounds of copper and 60,000oz of gold and
650,000oz of silver. Area 118 is adjacent to, and contiguous with,
the Area 2 deposit.
Area 118 Deposit - Mineral Resources by Classification (at a
0.5% copper cut-off)
----------------------------------------------------------------------------
Con- Con- Con-
Ton- tained tained tained
Class- nes Cu Gold Silver
ifica- (000's) Copper Gold Silver (000's (000's (000's
tion (i) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
----------------------------------------------------------------------------
Measured
(M) - - - - - -
----------------------------------------------------------------------------
Indicated
(I) - - - - - -
----------------------------------------------------------------------------
Sub-total
(M + I) - - - - - -
----------------------------------------------------------------------------
Inferred 6,590 0.97 0.27 3.07 141,390 60 650
----------------------------------------------------------------------------
(i)Rounded to the nearest ten thousand
As tabulated at the end of this release, using a 1.0% copper
cut-off grade, the Area 118 inferred mineral resource totals 2
million tonnes grading 1.6% copper, 0.5g/t gold and 5g/t
silver.
Susan Lomas, P.Geo. of LGGC estimated the mineral resources for
Area 118 in June, 2008. The estimate was completed in Gemcom
Software (Gems) using a 3 dimensional block model (15m by 15m by 3m
(vertical) block size). The mineralization was interpreted into 11
different domains and wireframes were created and geostatistical
analysis was completed on the assay and 3m composite data for each
of the metals.
The grades for copper and gold were interpolated into the block
model using ordinary kriging, inverse distance squared and nearest
neighbour method and the silver grades were interpolated using
inverse distance squared and nearest neighbour method. The copper,
gold and silver tonnage and grade values were tabulated using the
inverse distance squared method results. The mineral resources in
Area 118 were classified as inferred mineral resources due to the
wide spaced drilling results currently supporting the estimate.
As mentioned earlier drills are currently turning at Area 118
and Area 2, conducting both infill and step out drilling. Sherwood
aims to upgrade the confidence in these mineral resources before
the end of 2008.
Ridgetop
As with Area 118, Ridgetop has only benefited from one year's
relatively wide spaced drilling, resulting in an inferred mineral
resource being estimated. The inferred mineral resource estimate
for the Ridgetop deposit, using a 0.5% copper cut-off, is 4.89
million tonnes at a grade of 0.85% Cu, 0.23g/t Au and 2.0g/t Ag for
a contained metal total of 92.1 million pounds of copper, 40,000oz
of gold and 320,000oz of silver. Ridgetop is a very shallow
resource, locally coming to surface beneath a few metres of
overburden.
Ridgetop Deposit - Mineral Resources by Classification (at a
0.5% copper cut-off)
----------------------------------------------------------------------------
Con- Con- Con-
Ton- tained tained tained
Class- nes Cu Gold Silver
ifica- (000's) Copper Gold Silver (000's (000's (000's
tion (i) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
----------------------------------------------------------------------------
Measured
(M) - - - - - -
----------------------------------------------------------------------------
Indicated
(I) - - - - - -
----------------------------------------------------------------------------
Sub-total
(M + I) - - - - - -
----------------------------------------------------------------------------
Inferred 4,890 0.85 0.23 2.01 92,140 40 320
----------------------------------------------------------------------------
(i)Rounded to the nearest ten thousand
As tabulated at the end of this release, using a 1.0% copper
cut-off grade, the Ridgetop inferred mineral resource totals 1.2
million tonnes grading 1.3% copper, 0.45g/t gold and 3g/t
silver.
Susan Lomas, P.Geo. of LGGC estimated the mineral resources at
Ridgetop in April, 2008. The estimate was completed in Gemcom
Software (Gems) using a 3 dimensional block model (25m by 25m by 9m
(vertical) block size). The mineralization was interpreted into 5
different domains and wireframes were created and geostatistical
analysis was completed on the assay and 3m composite data for each
of the metals.
The grades for copper, gold and silver were interpolated into
the block model using inverse distance squared and nearest
neighbour method. The copper, gold and silver tonnage and grade
values were tabulated using the inverse distance squared method
results. The mineral resources at Ridgetop were classified as
inferred mineral resources due to the wide spaced drilling results
currently supporting the estimate.
Infill drilling to increase the confidence in these mineral
resources, plus further step out drilling to the east, will start
at Ridgetop as soon as a drill becomes available from Area 118 /
Area 2 and before the end of 2008.
Maps
The attached location map (To view the Priority Exploration
Corridor map, please visit the following link:
http://media3.marketwire.com/docs/SWCPEC061708.jpg) illustrates the
locations of these high grade copper-gold deposits and their
relative position to the mill infrastructure at the Minto Mine. A
drill program is currently underway infilling these resources areas
and conducting further exploration including stepping out from know
deposits and testing new targets.
A drill hole location map along with an overview of Sherwood's
priority exploration targets can be viewed at (To view the Drill
Hole Location MAP, please visit the following link:
http://media3.marketwire.com/docs/SWC061708DHLM.jpg). Assay results
for the first holes of the 2008 Phase II drill program are expected
to be released soon.
Minto Mine Mineral Reserves
Mineral reserves at the Minto Mine as a whole can be summarized
as follows, representing the previously announced reserve for the
Minto Main deposit and the Area 2 deposit, less mining that has
taken place in 2006 and 2007.
Minto Mine - Mineral Reserves by Classification for All Deposits
(at a 0.62% copper cut-off)
----------------------------------------------------------------------------
Con- Con- Con-
Ton- tained tained tained
Class- nes Cu Gold Silver
ifica- (000's) Copper Gold Silver (000's (000's (000's
tion (i) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
----------------------------------------------------------------------------
Proven 8,219 2.01 0.77 7.98 364,400 203.6 2,110
----------------------------------------------------------------------------
Probable 910 1.24 0.46 5.40 24,800 13.3 159
----------------------------------------------------------------------------
Total (P&P)
(ii) 9,129 1.93 0.74 7.73 389,200 216.9 2,267
----------------------------------------------------------------------------
(i)Rounded to the nearest thousand
(ii)Totals may not add exactly due to rounding
Mineral reserves for the Minto Main deposit alone, including
drilling to the end of 2007, can be summarized as follows;
Minto Main Deposit - Mineral Reserve by Classification (at a
0.62% copper cut-off)
----------------------------------------------------------------------------
Con- Con- Con-
Ton- tained tained tained
Class- nes Cu Gold Silver
ifica- (000's) Copper Gold Silver (000's (000's (000's
tion (i) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
----------------------------------------------------------------------------
Proven 5,416 2.22 0.83 9.16 265,500 145.0 1,595
----------------------------------------------------------------------------
Probable 359 1.27 0.48 6.82 10,000 5.5 79
----------------------------------------------------------------------------
Total (P&P)
(ii) 5,774 2.16 0.81 9.01 275,500 150.5 1,673
----------------------------------------------------------------------------
(i)Rounded to the nearest thousand
(ii) Totals may not add exactly due to rounding
See below for a discussion on reserve reconciliation.
Mineral reserves for the Area 2 deposit alone can be summarized
as follows;
Area 2 Deposit - Mineral Reserves by Classification (at a 0.62%
copper cut-off)
----------------------------------------------------------------------------
Con- Con- Con-
Ton- tained tained tained
Class- nes Copper Gold Silver
ifica- (000's) Copper Gold Silver (000's (000's (000's
tion (i) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
----------------------------------------------------------------------------
Proven 2,803 1.60 0.65 5.71 98,900 58.6 515
----------------------------------------------------------------------------
Probable 552 1.22 0.44 4.48 14,800 7.8 80
----------------------------------------------------------------------------
Total (P&P)
(ii) 3,355 1.54 0.62 5.51 113,700 66.4 594
----------------------------------------------------------------------------
(i)Rounded to the nearest thousand
(ii)Totals may not add exactly due to rounding
There has been no adjustment to the Area 2 reserve from that
announced on December 12, 2007, which was based on drilling to the
end of 2007. See that news release for additional details on the
basis for the reserve estimates and disclosure in respect of the
Qualified Persons responsible for those estimates.
Minto Mine Reserve Reconciliation
To date, the block model to mine blast hole reconciliation has
been positive with respect to the total copper metal mined. While
the grade of the ore mined has been approximately similar to that
projected in the block mode, on a bench-by-bench basis the total
tonnes mined exceeded that predicted in the block model by
approximately 20% in the second half of 2007.
To the end of 2007, 746,327 tonnes of ore grading 1.7% copper
were mined from the Main Pit. In total, 238,446 tonnes of ore
grading 2.16% copper were milled during 2007, leaving approximately
510,000 tonnes of ore grading 1.48% copper in surveyed stockpiles
at December 31, 2007.
Despite mining of 746,327 tonnes of ore from the Minto Main
deposit pit at a grade of 1.7% copper in 2006-07, the mineral
reserve was reduced only by a net 325,000 tonnes at 0.89% copper.
This smaller than projected net adjustment represents a significant
gain in the reserve model from the last stated reserve estimate.
This gain (as compared to that announced on December 12, 2007) is
the result of a combination of factors including, but not limited
to, additional diamond drilling within the pit limits since the
last reserve estimate that increased the resource within the pit,
possible gains in ore tonnages along the upper contact of the Minto
Main deposit, and an optimised ultimate pit shell which brought
some additional material into reserves.
Resource and Reserve Estimation Methodology
All mineral resources reported herein were estimated by Lions
Gate Geological Consulting Inc. (LGGC). Susan Lomas, P. Geol. of
LGGC is the Qualified Person under National Instrument 43-101
responsible for the mineral resource estimates. Mineral reserves
were calculated by Minto Explorations Ltd geology and engineering
staff under the supervision of Dan Russell, P. Eng. who is the
Qualified Person under National Instrument 43-101 responsible for
the mineral reserve estimate.
Minto Main deposit reserve estimate was compiled using the
updated mineral resource model provided by LGGC, hereby referred to
as the "Model". The Model was imported into Mintec's MineSight�
software for the reserve calculation. The mineral resource estimate
was verified using MineSight� to ensure the import was successful.
The mineral reserve calculation was bounded by the 2007 year-end
survey surface (122007 YE Pit Surface.msr) and the most current
ultimate pit design surface (ph5 nov1.msr). Furthermore, a cut-off
grade of 0.62% Copper was used and no dilution or recovery factors
were employed. The absence of these factors is justified on account
of historical performance showing good mining reconciliation
against the past model. The mineral reserve summary is based on
measured and indicated mineral resource classifications in the
model only, totalled within ore zones 2, 4, 5, and 8 in the Minto
Main deposit (as established by in the December 2007
Pre-feasibility Study), and bounded by the aforementioned surfaces
and assumptions. Mineral resource categories and definition of ore
zones in the Model were established by the relevant QP's for each
resource model, as defined herein.
Details of the historical Area 2 mineral resource and reserve
estimate are provided in the Technical Report for the Minto
Pre-feasibility study, available on Sedar, the results of which
were announced on December 12, 2007. The current Area 2 mineral
reserves are based on this historic mineral resource and have not
been updated to reflect the increased Area 2 mineral resource
discussed in this release nor the results of drilling in 2008.
Mineral Resources that are not mineral reserves do not have
demonstrated economic viability. Mineral resource estimates do not
account for mineability, selectivity, mining loss and dilution.
These mineral resource estimates include inferred mineral resources
that are normally considered too speculative geologically to have
economic considerations applied to them that would enable them to
be categorized as mineral reserves. There is also no certainty that
these inferred mineral resources will be converted to measured and
indicated categories through further drilling, or into mineral
reserves, once economic considerations are applied.
About Sherwood Copper
Sherwood's objective is the profitable production of base and
precious metals from high grade, open pit mines in Canada.
Sherwood's first operating mine, the high grade Minto copper-gold
mine in Yukon, Canada, was built on budget and ahead of schedule.
The Minto Mine is one of the highest-grade open pit copper-gold
mines in the world, and is forecast to be a low cost producer.
Aggressive exploration on the Minto property has yielded
significant success, providing Sherwood the opportunity to 'grow
from within' by expanding the mineral resource and mineral reserve
base, potentially leading to further production increases. To
further accelerate its production growth, Sherwood intends to
pursue merger & acquisition opportunities that fit its business
model and, in May 2008, Sherwood acquired 100% ownership in Western
Keltic Mines Ltd., owner of the high-grade Kutcho
copper-zinc-gold-silver deposit in northwestern British Columbia.
Sherwood expects to lever off its successful development of the
Minto Mine and rapidly advance the Kutcho Project to a production
decision.
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, who has
reviewed the content of this press release. The exploration
activities at the Minto project site are carried out under the
supervision of Brad Mercer, P. Geol., V.P. Exploration with
Sherwood. The mineral resources discussed in this new release were
estimated by Lions Gate Geological Consulting Inc. (LGGC). Susan
Lomas, P. Geol. of LGGC is the Qualified Person under National
Instrument 43-101 responsible for the estimates and has reviewed
the information in this release in respect of mineral resource
estimates.
The basis of and responsibility for the mineral reserve
estimates for the Minto Main and Area 2 deposits as at the end of
2006 were detailed in the Technical Report for the Minto
Pre-feasibility study, the results of which were announced on
December 12, 2007. The update to the mineral reserve estimate for
the Minto Main deposit and the reserve reconciliation were under
the supervision of Dan Russell, P.Eng., Manager of Mining at the
Minto Mine. Dan Russell is the Qualified Person under National
Instrument 43-101 responsible for these estimates.
The analytical method for copper and silver performed by SGS
Laboratories under a contract arrangement at the Minto Mine Site,
Yukon includes digestion in aqua regia followed by absorption
spectroscopy. Gold is measured using fire assay with atomic
absorption spectroscopy; analysis is performed by SGS Laboratories
at Red Lake, Ontario. When visible gold is noted in drill core
samples or regular analytical values exceed 5 grams per tonne, the
pulp and screen metallic assay method is used to determine total
gold content and gold content of different size fractions. This is
considered industry best practice when dealing with coarse gold
mineralization where a nugget effect is suspected. The result of
the pulp and screen metallic assay is accepted as the most
representative value and used in the assay database for resource
calculations. Blank and standard samples are added to all sample
shipments prior to submittal to the lab for quality assurance and
quality control. If more than two check samples assay outside of
expected ranges, the work order is re-assayed. After the completion
of planned drill programs, random check assays will be carried out
by ALS Chemex of North Vancouver, BC.
Additional Information
Additional information on Sherwood and its Minto & Kutcho
projects 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
Forward-Looking Statements
This document may contain "forward-looking statements" within
the meaning of Canadian securities legislation and the United
States Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made as of the date of this document
and the Company does not intend, and does not assume any
obligation, to update these forward-looking statements.
Forward-looking statements relate to future events or future
performance and reflect management's expectations or beliefs
regarding future events and include, but are not limited to,
statements with respect to the estimation of mineral reserves and
resources, the realization of mineral reserve estimates, the timing
and amount of estimated future production, costs of production,
capital expenditures, success of mining operations, environmental
risks, unanticipated reclamation expenses, title disputes or claims
and limitations on insurance coverage. In certain cases,
forward-looking statements can be identified by the use of words
such as "plans", "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 statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology. By their very nature
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, among others, risks related to actual results of
current exploration activities; changes in project parameters as
plans continue to be refined; future prices of resources; possible
variations in ore reserves, grade or recovery rates; accidents,
labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities; as well as those factors
detailed from time to time in the Company's interim and annual
financial statements and management's discussion and analysis of
those statements, all of which are filed and available for review
on SEDAR at www.sedar.com. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such
statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
Details of Minto Project Mineral Resource Estimates at 0.5% Cu
cut-off
To accompany Sherwood Copper News Release Dated June 17,
2008
--------------------------------------------------------------------------
Con- Con- Con-
tained tained tained
Class- Copper Gold Silver
ifica- Cut-off Tonnes Copper Gold Silver (000's (000's (000's
tion (% Cu) (000's) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
--------------------------------------------------------------------------
Measured Resources (M)
--------------------------------------------------------------------------
Minto
Mine 0.5% 6,790 1.98 0.72 8.11 296,390 160 1,770
--------------------------------------------------------------------------
Area 2 0.5% 4,670 1.48 0.57 5.00 152,380 90 750
--------------------------------------------------------------------------
Area 118 0.5% - - - - - - -
--------------------------------------------------------------------------
Ridgetop 0.5% - - - - - - -
--------------------------------------------------------------------------
Total
Measured
(ii) 0.5% 11,460 1.78 0.66 6.85 448,770 240 2,520
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Indicated Resources (I)
--------------------------------------------------------------------------
Minto
Mine 0.5% 1,190 1.03 0.30 4.95 27,020 10 190
--------------------------------------------------------------------------
Area 2 0.5% 6,640 0.88 0.29 2.93 129,440 60 630
--------------------------------------------------------------------------
Area 118 0.5% - - - - - - -
--------------------------------------------------------------------------
Ridgetop 0.5% - - - - - - -
--------------------------------------------------------------------------
Total
Indicated
(ii) 0.5% 7,830 0.91 0.29 3.24 156,410 70 820
---- ----- ---- ---- ---- ------- -- ---
--------------------------------------------------------------------------
Total
Measured
+ Indi-
cated(i) 0.5% 19,290 1.42 0.51 5.38 604,220 310 3,3408
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Additional Inferred Resources
--------------------------------------------------------------------------
Minto
Mine 0.5% 60 0.73 0.15 3.58 970 0 10
--------------------------------------------------------------------------
Area 2 0.5% 3,530 0.77 0.25 2.54 59,920 30 290
--------------------------------------------------------------------------
Area 118 0.5% 6,590 0.97 0.27 3.07 141,390 60 650
--------------------------------------------------------------------------
Ridgetop 0.5% 4,890 0.85 0.23 2.01 92,140 40 320
--------------------------------------------------------------------------
Total
Inferred
(ii) 0.5% 15,080 0.89 0.25 2.48 294,590 120 1,260
--------------------------------------------------------------------------
(i)Rounded to the nearest ten thousand
(ii)Totals may not add exactly due to rounding
Details of Minto Project Mineral Resource Estimates at 1.0% Cu
cut-off
To accompany Sherwood Copper News Release Dated June 17,
2008
--------------------------------------------------------------------------
Con- Con- Con-
tained tained tained
Class- Copper Gold Silver
ifica- Cut-off Tonnes Copper Gold Silver (000's (000's (000's
tion (% Cu) (000's) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
--------------------------------------------------------------------------
Measured Resources (M)
--------------------------------------------------------------------------
Minto
Mine 1.0% 4,890 2.46 0.90 10.10 264,880 140 1,590
--------------------------------------------------------------------------
Area 2 1.0% 3,080 1.90 0.78 6.58 129,010 80 650
--------------------------------------------------------------------------
Area 118 1.0% - - - - - - -
--------------------------------------------------------------------------
Ridgetop 1.0% - - - - - - -
--------------------------------------------------------------------------
Total
Measured
(ii) 1.0% 7,970 2.24 0.86 8.74 393,900 220 2,240
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Indicated Resources (I)
--------------------------------------------------------------------------
Minto
Mine 1.0% 500 1.47 0.44 7.62 16,180 10 110
--------------------------------------------------------------------------
Area 2 1.0% 1,500 1.67 0.61 5.63 55,230 30 270
--------------------------------------------------------------------------
Area 118 1.0% - - - - - - -
--------------------------------------------------------------------------
Ridgetop 1.0% - - - - - - -
--------------------------------------------------------------------------
Total
Indicated
(ii) 1.0% 2,000 1.62 0.57 6.00 71,400 40 390
---- ----- ---- ---- ---- ------- -- ---
--------------------------------------------------------------------------
Total
Measured
+ Indi-
cated(i) 1.0% 9,970 2.12 0.80 8.19 465,900 260 2,630
--------------------------------------------------------------------------
Additional Inferred Resources
--------------------------------------------------------------------------
Minto
Mine 1.0% 10.4 1.42 0.31 8.07 330 0 0
--------------------------------------------------------------------------
Area 2 1.0% 460 1.41 0.57 4.91 14,300 10 70
--------------------------------------------------------------------------
Area 118 1.0% 1,990 1.60 0.50 5.09 70,200 30 330
--------------------------------------------------------------------------
Ridgetop 1.0% 1,223 1.34 0.45 3.24 36,200 20 130
--------------------------------------------------------------------------
Total
Inferred
(ii) 1.0% 3,683 1.49 0.49 4.46 121,000 60 530
--------------------------------------------------------------------------
(i)Rounded to the nearest ten thousand
(ii)Totals may not add exactly due to rounding
Details of Minto Project Mineral Resource Estimates at 1.5% Cu
cut-off
To accompany Sherwood Copper News Release Dated June 17,
2008
--------------------------------------------------------------------------
Con- Con- Con-
tained tained tained
Class- Copper Gold Silver
ifica- Cut-off Tonnes Copper Gold Silver (000's (000's (000's
tion (% Cu) (000's) (%) (g/t) (g/t) lbs)(i) oz)(i) oz)(i)
--------------------------------------------------------------------------
Measured Resources (M)
--------------------------------------------------------------------------
Minto
Mine 1.5% 3,700 2.85 1.04 11.84 232,600 120 1,410
--------------------------------------------------------------------------
Area 2 1.5% 2,090 2.19 0.95 7.63 100,900 60 510
--------------------------------------------------------------------------
Area 118 1.5% - - - - - - -
--------------------------------------------------------------------------
Ridgetop 1.5% - - - - - - -
--------------------------------------------------------------------------
Total
Measured
(ii) 1.5% 5,790 2.61 1.01 10.32 333,500 190 1,920
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Indicated Resources (I)
--------------------------------------------------------------------------
Minto
Mine 1.5% 170 1.96 0.58 9.33 7,350 0 50
--------------------------------------------------------------------------
Area 2 1.5% 690 2.23 0.78 7.33 33,920 20 160
--------------------------------------------------------------------------
Area 118 1.5% - - - - - - -
--------------------------------------------------------------------------
Ridgetop 1.5% - - - - - - -
--------------------------------------------------------------------------
Total
Indicated
(ii) 1.5% 860 2.18 0.74 7.73 41,270 20 210
---- ----- ---- ---- ---- ------- -- ---
--------------------------------------------------------------------------
Total
Measured
+ Indi-
cated(ii) 1.5% 6,650 2.56 0.98 9.98 374,740 210 2,130
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Additional Inferred Resources
--------------------------------------------------------------------------
Minto
Mine 1.5% 10 1.97 0.58 11.54 430 0 0
--------------------------------------------------------------------------
Area 2 1.5% 160 1.85 0.70 6.62 6,520 0 30
--------------------------------------------------------------------------
Area 118 1.5% 810 2.24 0.91 6.66 40,000 23.7 170
--------------------------------------------------------------------------
Ridgetop 1.5% 310 1.79 0.75 4.46 12,220 10 40
--------------------------------------------------------------------------
Total
Inferred
(ii) 1.5% 1,290 2.08 0.84 6.16 59,180 35.0 260
--------------------------------------------------------------------------
(i)Rounded to the nearest ten thousand
(ii)Totals may not add exactly due to rounding
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press
release.
Contacts: Sherwood Copper Corporation - Investor Contacts
Stephen P. Quin (604) 687-7545 Sherwood Copper Corporation -
Investor Contacts Brad Kopp (604) 687-7545 Website:
www.sherwoodcopper.com
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