Sherwood Copper Reports Strong Results From Operations in First Quarter 2008

Sherwood Copper Corporation (TSX VENTURE:SWC)(TSX VENTURE:SWC.DB) today
announced its results for the first three months of 2008 including results of
operations at its high grade Minto copper-gold mine located in the Yukon.
Sherwood generated cash flow from mining operations(i) of $16.9 million based on
sales of 7.1 million pounds of copper, 3,950 ounces of gold and 25,016 ounces of
silver. This material was mostly produced in the fourth quarter of 2007 but sold
in 2008 and, in accordance with Sherwood's revenue recognition policies,
recorded in the first quarter of 2008.


First quarter 2008 production totalled 10.95 million pounds of payable copper at
an estimated cash cost of $1.19(i) per pound of payable copper, a period during
which Sherwood completed commissioning the Phase 2 mill expansion increasing
mill throughput from 1,563 tonnes per day to 2,400 tonnes per day by mid-March.
Since then, production has been sustained at levels equal to or higher than
design capacity of 2,400 tonnes per day for the process plant. Revenue and
expenses for first quarter production will be recognized when this material is
sold.


"Production at our high grade Minto copper-gold mine ramped up to and often
exceeded design capacity by the end of the first quarter of 2008," said Stephen
Quin, President & CEO. "Even though we were commissioning the Phase 2 mill
expansion to 2,400 tonnes per day during the quarter, we still reported very
respectable cash costs(i) of $1.19 per pound on 10.95 million payable pounds of
copper produced. Cash flow from mining operations(i) of $16.9 million was also
strong. Going forward, we expect to benefit from sustained throughput at or
above design levels and, as a result, unit costs should fall below the levels
reported for the first quarter. Later in the year, we will also benefit from
connecting to lower cost grid power as the transmission line is completed from
the Minto mine to the Yukon electrical grid."


During the first quarter, Sherwood continued its project optimization process,
developing a rescheduled open pit mine plan that should result in increased
production in 2009 versus what was previously forecast as a result of bringing
some of 2010's forecast production forward. Production forecasts for 2008 of
approximately 55 million pounds of payable copper and 24,000 oz of payable gold
remain unchanged. "The rescheduled open pit should result in more copper
production sooner, which should increase value to all of our stakeholders," said
Mr. Quin.


Highlights of First Quarter 2008

During the first three months, even though this was a period of commissioning
and ramp up to Phase 2 mill capacity, Sherwood marked a number of notable
achievements, including the following:


- Produced 11.32 million pounds of contained and 10.95 million pounds of payable
copper at an estimated cash cost(i) of $1.19 per pound of payable copper,
including by-product credits, treatment charges and selling costs. Going
forward, unit costs should trend down as a result of increased production and
mill throughput, and conversion to grid electrical power before the end of 2008.


- Mined 321,431 dmt of ore from the main Minto pit, processing 153,368 dmt and
stockpiling the balance for future processing.


- Completed commissioning of Phase 2 mill expansion to 2,400 dmt per day,
achieving design performance in the latter part of March and a one day
throughput record of more than 2,500 dmt/day in that period.


- Shipped 9,158 dmt of concentrate from the Port of Skagway in early March 2008,
the majority of which was produced in 2007.


- Held 10,197 dmt of copper concentrate grading 38.4% copper in inventory at
March 31 2008, 9,849 dmt of which was shipped in early April. Revenue and costs
related to this shipment will be recognized in the second quarter of 2008.


- Generated cash flow from mining operations(i) of $16.9 million and income from
mining operations of $13.0 million on the sale of 7.1 million lbs of copper,
3,950 ounces of gold and 25,016 ounces of silver, most of which was produced in
2007.


- Generated adjusted net earnings(i) of $3.7 million, before the following
non-cash items: unrealized loss on mark-to-market of forward metal sales ($70.4
million), financing fees ($1.5 million), stock based compensation expense ($0.7
million) and future income tax recovery ($2.8 million). Before these
adjustments, Sherwood reported a net loss of $66.1 million.


- Appointed Kevin Weston as Chief Operating Officer and Randall Thompson as
General Manager of the Minto Mine.


- Acquired 93% ownership in Western Keltic Mines, owner of the high grade Kutcho
copper project in BC and commenced a reassessment of the development approach to
the Kutcho project.


- Entered into a memorandum of understanding with Firestone Ventures Inc. for
the creation of an exploration company, Northern Tiger, to own and explore
certain mineral interests in the Yukon currently controlled by Firestone and by
Sherwood, in proximity to, but separate from, the Minto mine property.


Highlights Subsequent to March 31

Subsequent to March 31, Sherwood notes the following significant events:

- Operations personnel continued to push mill performance and optimize
day-to-day activities, achieving single day throughput records of 3,363 and
3,386 dmt per day (141% of design capacity). Overall production averaged at
design capacity in April and May to date, aside from five operating days when
the mill was shut down for scheduled maintenance, including replacement of
liners and grates in the SAG mill. As noted above, Sherwood aims to operate the
mill at above design capacity for the remainder of the year in order to achieve
its production objectives for 2008.


- Reported copper-gold discoveries in previously untested areas as part of a
20,000m $4.4 million exploration program underway at the Minto Mine which is
focused on better defining and expanding known mineralized areas, as well as
evaluating new targets.


- Commenced a major drill program at the Kutcho copper project with the
objective of better defining the higher grade near surface mineralization and
providing samples for metallurgical testing.


- On May 21, Western Keltic shareholders voted in favour of completing an
amalgamation with a wholly owned subsidiary of Sherwood Copper, which
amalgamation was effective May 27, 2008. 99.9% of all votes cast at the meeting
were in favour of the amalgamation.


Financial Results

Sherwood reported a net loss of $66.1 million in the quarter ended March 31,
2008, primarily as a result of non-cash unrealized losses on forward metal sales
of $70.4 million, as compared with a net loss of $1.6 million for the period
ended March 31, 2007. The non-cash unrealized losses on forward metal sales of
$70.4 million were attributable to a notable increase in the future prices of
copper on March 31, 2008 versus future prices at the beginning of the period.


In the first three months of 2008, Sherwood recorded net revenue of $28.6
million on the sale of 9,158 dmt of copper concentrate, most of which was
produced in the fourth quarter of 2007. Cash operating costs of $11.8 million
and non-cash operating costs of $3.8 million resulted in income from mining
operations of $13.0 million.


Sherwood's net income or loss may vary significantly from quarter to quarter
based on revenue recognition timing. In addition, the mark-to-market of forward
metal sales, expenses for stock based compensation and foreign exchange
adjustments, all of which are non-cash adjustments, can swing significantly from
period to period and therefore affect reported net income without any impact on
cash or the financial strength of the Company.


Additional details on the financial results for first quarter 2008 are available
in the Company's unaudited consolidated interim financial statements and
management discussion and analysis for the three month period ended March 31,
2008 filed on SEDAR at www.sedar.com, while additional information on production
results is set out in the Company's news release dated April 17, 2008.


Prior to October 1, 2007, the Company capitalized or classified as inventory all
revenue and costs related to the Minto Project as commercial production had not
yet been achieved.


Concentrate Shipments

10,196 dmt of copper concentrate were held in inventory at March 31, 2008, of
which 9,849 dmt grading approximately 39% copper were shipped in early April of
2008 and will be recognised as revenue in the second quarter of 2008. Sherwood
expects to settle 2,668 tonnes of forward copper sales in June 2008, matching
these sales to the final price settlement of the March 2008 concentrate
shipment, which totalled 9,158 dmt of concentrate. These forward copper sales
have an average strike price of $6,385 per tonne of copper. In addition, these
concentrates contain significant gold and silver credits. Forward sales account
for approximately 50% of 2008 forecast production providing Sherwood with
significant exposure to current high spot prices for copper, gold and silver in
2008.


Updated Outlook

Given that the mill has demonstrated capacity significantly in excess of design,
for the balance of 2008 Sherwood aims to average mill throughput in excess of
2,400 tonnes per day in order to achieve its production forecast of
approximately 55 million pounds of payable copper and 24,000 oz of payable gold
in 2008.


As part of its optimization plan, Sherwood has rescheduled mine production from
the main pit at Minto in order to accelerate the mining of high grade ore
currently scheduled for production in 2010. This rescheduling involves
developing the pit northward from the current pit walls, as opposed to the prior
plan of developing the southern portion of the pit first. This rescheduled mine
plan will expose the largest amount of high grade copper-gold ore (greater than
4% copper and 2g/t gold) in the main Minto pit 12-18 months earlier than
previously planned, resulting in increased copper production in 2009 while
reducing the forecast production for 2010 below that set out in the February 17,
2008 press release. Given current very high copper and gold prices, this change
in pit scheduling should result in several million pounds of copper production
being brought forward from 2010 into 2009, without reducing Sherwood's forecast
production of approximately 55 million pounds of copper in 2008. Additional
details will be provided in respect of the rescheduled production outlook for
2009 and 2010 in the near future.


About Sherwood Copper

Sherwood Copper's current focus is 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
resource and 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 March 2008,
Sherwood acquired more than 93% ownership in Western Keltic Mines, 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. The operational activities carried out at the Minto Mine has been
carried out under the supervision of Randall Thompson, General Manager of the
Minto Mine, and Kevin Weston, Chief Operating Officer for Sherwood Copper, who
have reviewed and approved the information contained herein.


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 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.

(i)These are non-GAAP performance measures and readers should refer to notes on
non-GAAP performance measures on page 12 of the Company's management discussion
and analysis for the three month period ended March 31, 2008 as filed on Sedar
for further details.