Sherritt Provides an Update on the Moa Joint Venture Operations Following Hurricane Matthew

October 12, 2016

TORONTO, ON--(Marketwired - October 12, 2016) -

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Sherritt International Corporation ("Sherritt") (TSX:S.TO) announced today that the Moa Joint Venture mine and High Pressure Acid Leach operations in eastern Cuba have resumed operations with minimal damage after Hurricane Matthew. Hurricane Matthew was a Category 4 storm when it swept across eastern Cuba late on Monday, October 3 and all day Tuesday before departing the night of Wednesday, October 5.

In accordance with Moa Nickel's standard operating procedures, gradual shutdown measures were implemented ahead of the hurricane and operations have subsequently resumed in a staged process. Production was impacted by the shutdown and by delayed shipments when carriers were unable to dock safely at the Moa port; however the current full year guidance range of 33,500 - 34,500 tonnes finished nickel is expected to remain intact.

Steve Wood, Sherritt's Executive Vice President and Chief Operating Officer commented, "The Cuban Civil Defense, our Joint Venture partner Cubaniquel, our Moa employees and members of the surrounding communities are to be commended for their exemplary emergency preparedness and response. Their efforts and actions prevented what could have been a much more severe loss of production and most importantly, we have no reported fatalities or injuries on or off-site."

About Sherritt

Sherritt is the world leader in the mining and refining of nickel from lateritic ores with projects and operations in Canada, Cuba, and Madagascar. The Corporation is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation's common shares are listed on the Toronto Stock Exchange under the symbol "S".

Source: Sherritt Investor Relations