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February 17, 2004 |
| PRESS RELEASE #04-01 | |
| Trading Symbol: SWM : TSXV | |
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Sherwood Mining Corporation (TSXV:SWM) announces the closing of a private placement of $350,726, consisting of 1,252,572 units with warrants to purchase an aggregate of 626,826 shares at $0.40, exercisable up to February 12, 2006. The units issued will have a hold period expiring June 13, 2004 The proceeds of the private placement will be used for exploration of the Chicago trend recently optioned from Miramar Hope Bay Ltd. and for general working capital. The Chicago trend consists of 11 claims covering 9,162 hectares located in the southwest portion of the Hope Bay Belt, and lies approximately 15 km southwest of Miramar 's Boston Camp. The Hope Bay belt in Nunavut , Canada , is being actively explored by Miramar and contains multiple gold deposits and showings. For more information on the Chicago trend please see the Sherwood news release dated December 29, 2003 . The Company is currently preparing an exploration program designed to drill test portions of the Chicago trend which is scheduled to commence early in the second quarter of this year.
ON BEHALF OF THE BOARD OF
DIRECTORS
“D. Bruce McLeod”
D. Bruce McLeod, President
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Suite 860-625 Howe Street, Vancouver, B.C., Canada V6C 2T6 |
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