In my opinion Leopard just doesn't have /usr/bin/shasum.
Take a look at shasum manpage - this manpage is only for Snow Leopard. Other manpages, like ls manpage (can't link to it, not enough reputation), are for previous versions of MacOS X.
Workaround: Use OpenSSL to calculate sha256 checksums.
Leopards' OpenSSL (0.9.7) doesn't handle sha256. Upgrade OpenSSL. I've used MacPorts (can't link to it, not enough reputation). OpenSSL's dependecy zlib 1.2.5 required to upgrade XCode to 3.1. Can I get Xcode for Leopard still? is helpful.
Alias sha256sum to OpenSSL and correct the way it formats an output. I've put in my .bash_profile:
function sha256sum() { openssl sha256 "$@" | awk '{print $2}'; }