Sherwood Copper Corporation

SUITE 860-625 HOWE STREET ? VANCOUVER, BC ? V6C 2T6 ? CANADA ? TEL: (604-687-7545) ? FAX: (604-689-5041)

PRESS RELEASE

FOR IMMEDIATE RELEASE

August 21, 2008                                                                                                                                                                                   #08-31

Sherwood Reports Further High Grade Copper-Gold Results From Areas 2 & 118 at Minto Mine

Multiple high grade intercepts including 4.7% copper & 1.2g/t gold over 8.5m in 08SWC-316

and 3.1% copper & 1.4g/t gold over 8.1m in 08SWC-313

VANCOUVER, BRITISH COLUMBIA - Sherwood Copper Corporation (SWC: TSX-V) today announced results for 15 further drill holes from its 2008 exploration program at the high grade Minto copper-gold mine in the Yukon.  Highlights from this latest batch of results include continued high grade intercepts in the Area 118 deposit, including a hole that equals the prior highest grade intercept in Area 118, returning 4.7% copper and 1.2g/t gold over 8.5m.  Also of significance is the discovery of further high grade mineralization in wide spaced drilling on the south margin of the Area 2 deposit, expanding the mineralization in that direction, and a strong intercept from the Copper Keel prospect.  Highlights from this latest batch of 15 holes are summarized in the table below while complete assay results for the fifteen holes reported herein are attached.

?Our in-fill and step-out drill program in the high grade Area 2 and Area 118 copper-gold deposits at the Minto Mine continues to reap considerable rewards,? said Stephen Quin, President & CEO of Sherwood Copper and Minto Explorations Ltd.  ?The Area 2 deposit is being expanded to the south, at relatively shallow depths, while Area 118 is returning consistent, very high grade copper and gold values,? he said.  ?The results from the Copper Keel area, an early stage prospect, are particularly encouraging since they suggest that the Area 2 and Copper Keel mineralization may link up, providing considerable additional opportunities for further resource increases.?

2008 Drill Program

The 2008 drill program has evaluated the Area 2, Area 118 and Ridgetop deposits and several other targets in a program comprised of a balance of infill, step-out and exploration drilling.  To date, 116 holes have been completed in 2008, with the primary objective of expanding the known resources at Area 2, Area 118 and Ridgetop, and increasing confidence in those resources in support of future feasibility studies geared to increasing high grade production at the Minto Mine over and above the levels already achieved.

In addition, as announced on August 5, 2008, Sherwood plans to explore the possibility of linking the Area 2, Area 118 and Ridgetop mineralized systems together, into one large deposit following the release of resource estimates at cut-offs lower than the current mining operation that suggested potential for a much larger, more moderate grade scenario with a lower strip ratio.  As part of this evaluation, Sherwood has completed a substantial part of the wide spaced pattern designed to evaluate this potential, and results are pending for these drill holes.

As of August 20, 2008 a total of 23,057 metres of drilling has been completed in 116 holes in 2008.  Seventeen holes for 4,470 metres were completed during the winter, the results of which were reported on May 14, 2008. A further 99 holes for 18,587 metres have been completed since then and drilling is still ongoing, but nearing completion of the program. Copper and gold assay results have been received for only 51 of the 116 holes completed to date, results for a further 15 of which are reported herein.

Please follow the link below to a map identifying the priority exploration areas for 2008: www.sherwoodcopper.com/i/pdf/2008-08-21PriorityExplorationCorridor.pdf.

2008 Discussion of Results to Date

The 2008 drill program is proceeding very well and is nearing completion. A drill statistics table attached to this release details how the drilling in 2008 is distributed thus far, while a synopsis of results is discussed below. It is anticipated that drilling will resume early in 2009.

Area 118: Infill and partial step-out drilling at Area 118 has returned excellent results with 5 of 7 holes reported in this latest batch of assay data grading better than 2% copper over significant intervals and 3 holes reporting greater than 3% copper.  Results from hole 08SWC-316 matched exactly the previous highest grade intersection reported at Area 118 (08SWC-310 reported on July 21)grading an impressive 4.71% copper and 1.19g/t gold over 8.5m (27.9ft).  This hole is located more than 120m north-northeast of hole 08SWC-310.  Hole 08SWC-313 also intersected very high grade mineralization, grading 3.12% copper and 1.37g/t gold over 8.1m (26.6ft).  Hole 08SWC-307 intersected even higher grades, with 6.53% copper and 2.48g/t gold over an interval of 2.4 metres (7.9ft).

Area 2: Three of the four holes drilled on the east perimeter of the previously known limit of the Area 2 deposit intersected between 1% and 2% copper over significant intervals.  Three holes drilled on the south perimeter of the deposit also intersected similar grades of copper mineralization at shallower depths. These results indicate potential to increase the Area 2 mineral resource beyond that announced June 17, 2008. The details of these intersections are in the table appended to this news release.

Copper Keel:  Preliminary geological interpretations suggest there is probable continuity between the Area 2 deposit and the Copper Keel prospect located to the east of Area 2.  Hole 08SWC-312 graded 2.13% copper and 0.80g/t gold over 11.6 metres (38.1ft) and supports that postulation. More drilling would be required to conclusively prove a link between these two deposits.

For current drill hole locations, please view the accompanying map: (www.sherwoodcopper.com/i/pdf/2008-08-212008DHLocationMap.pdf).

About Sherwood Copper

Sherwood Copper?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 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 May 2008, Sherwood acquired 100% ownership in Western Keltic Mines (now Kutcho Copper Corp.), 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 exploration activities at the Minto project site are carried out under the supervision of Brad Mercer, P. Geol., V.P. Exploration for Sherwood.

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.

Assay intervals reported herein are drill core lengths unless otherwise stated.  Because the known deposits are essentially flat lying and most drill holes reported to date are vertical, true widths are generally expected to be the same as reported core lengths unless otherwise stated. 

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

Investor Contacts:

Stephen P. Quin 604.687-7545 or Neil MacRae 604-687-7545

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

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.

2008 Drill Statistics ? Minto Property

To Accompany Sherwood Copper News Release SWC-08-31

Details of Drill Results

To accompany Sherwood Copper News Release SWC-08-31