A
NORTHAIR GROUP COMPANY
SUITE
860
- 625
HOWE STREET Ÿ
VANCOUVER, BC Ÿ
V6C 2T6 CANADA Ÿ TEL:
(604) 687-7545 FAX: (604) 689-5041
PRESS
RELEASE
FOR IMMEDIATE
RELEASE
October 25, 2007
#07-30
Sherwood Ships first Minto
Mine Concentrates from Skagway
- 6,615 wet tonnes of copper-gold concentrates loaded on
a ship bound for Asia
-
VANCOUVER, BRITISH COLUMBIA -
Sherwood Copper Corporation (SWC: TSX-V)
today reported that 6,615 wet metric tonnes of copper-gold concentrates produced
at its high grade Minto copper-gold mine in the Yukon have been loaded on a ship
bound for smelters in Asia. This
represents the first of many such shipments planned through the recently refurbished Skagway Ore Terminal in Alaska, which was refurbished with funding
from the Alaska Industrial Development & Export Agency
(?AIDEA?).
?Loading our first ship with concentrates bound for
smelters in Asia represents yet another milestone for Sherwood Copper?s high
grade copper-gold mine in the Yukon,? said Stephen P. Quin, President &
CEO of Sherwood Copper. ?This
shipment represents the culmination of 28 months of intensive work since our
acquisition of the Minto project in June 2005 and is credit to all those involved in the construction and operation of the Minto Mine and related facilities. Particular credit for
this portion of the Minto story belongs to Canadian Lynden Transport for trucking the concentrates to Skagway, to AIDEA for funding the refurbishment
of the Skagway Ore Terminal, R&M Consultants Inc. for management and engineering design and Hamilton Construction, general contractors for the
refurbishment.?
As announced September 5, 2007, the construction of the
Minto mine was completed ahead of schedule and essentially on budget, with first
concentrates produced at the end of May, 2007, less than two years from
acquisition of the undeveloped Minto project. Commercial production was declared on October 1, 2007 and the
official mine opening, attended by representatives of the Yukon Government, Selkirk First
Nation, people involved in the financing, construction and operation of the mine
and others, was held on October 11, 2007 at the Minto Mine
site.
This shipment totalled 6,615 wet metric tonnes of
copper-gold-silver concentrates and typical moisture content for the
concentrates is 8-10%. Additional
concentrates have been and will continue to be stockpiled at Skagway (and at the mine site during freeze-up and break-up
of the Yukon River) as production continues and shipped on a regular basis from
Skagway to
smelters overseas.
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
Sherwood?s successful consolidation of the ownership of
the Minto Project provides a unique investment opportunity ? participation in a
fully permitted, operating, high-grade, open pit copper-gold mine located in
Canada with tremendous exploration potential on the 100% owned
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?
Stephen P. Quin
President &
CEO
For further information
please contact Stephen Quin,
President of Sherwood Copper Corp.
or Brad Kopp or Kristy
Reynolds at (604) 687-7545 or (888) 338-2200
**
INTERNET ADDRESS: www.sherwoodcopper.com **
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this press release. 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.