NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Sherritt International Corporation ("Sherritt", the "Corporation" or the
"company") (TSX:S) announced today that Institutional Shareholder Services
("ISS") has recommended that its clients vote FOR all of Sherritt's director
nominees and resolutions, using only Sherritt's BLUE proxy. ISS has also
recommended that shareholders do NOT vote using the green dissident proxy.


ISS is a leading independent international corporate governance analysis and
proxy voting firm. ISS recommendations are intended to assist shareholders in
making choices regarding proxy voting decisions. In making its recommendations,
ISS meets with both sides of the proxy contest, carefully considers the validity
of the arguments and the outcome that is in the best interests of shareholders.


"This is an important endorsement from a leading independent third party proxy
advisor," said Harold (Hap) Stephen, Chairman of Sherritt. "Sherritt has
positive momentum and a Board with experienced directors. George Armoyan and his
handpicked dissident nominees threaten Sherritt's value creation. We welcome the
ISS recommendation that shareholders vote only the BLUE proxy FOR Sherritt's
director nominees."


ISS concluded that the dissident has NOT made a compelling case for change. In
recommending that shareholders vote FOR Sherritt director nominees, ISS stated:




--  "Analyst Sentiment - Street analysts appear to be generally optimistic
    with the company's current overall outlook. 
--  In light of the...positive changes the board has made in terms of
    director compensation structure, we believe that Sherritt's director
    compensation is now generally aligned with shareholder interest and
    should not constitute a major cause of concern going forward. 
--  The company's recent deterioration in the operating performance appears
    to be largely driven by the discontinuation of the coal division and the
    decrease in the commodity prices which can be proven by the company's
    TSR outperformance against its peer group of nickel producers.
    Management has demonstrated a high level of shareholder responsiveness
    since the debut of the dissident, and a number of positive governance
    changes particularly with respect to the director compensation have been
    implemented as the result of the shareholder engagement. 
--  On the strategic side, management seems to be clear on its current
    priorities, including reducing the total debt which can be achieved by
    leveraging the proceeds from the sale of the coal division and lowering
    cost structure. As the company's flagship project Ambatovy recently
    commenced commercial production and given the recovery of the nickel
    price in 2014 which have already been reflected by the recent increase
    in the company's share price, shareholders may wish to allow some more
    time for management to deliver its plan.



On the basis of the above, the dissident has not made a compelling case for
change to the board level at this stage." (emphasis added)


Proxy Voting Instructions

Regardless of how many Sherritt shares you own, it is important you vote your
BLUE proxy. Even if you have already voted using the Green Dissident form of
proxy, you can still change your vote by voting the BLUE proxy, as only the
latest dated proxy will be counted at the meeting.


We encourage shareholders to vote the control number found on your BLUE proxy
FOR Sherritt's nominees, no later than 5:00 p.m. (Toronto time) on Friday, May
2, 2014.


For more information or assistance in voting your BLUE proxy, please contact
Kingsdale Shareholder Services at 1-800-749-9197 (toll-free), 416-867-2272
(outside North America), or by email at contactus@kingsdaleshareholder.com or go
to www.sherritt.com.


About Sherritt

Sherritt is a world leader in the mining and refining of nickel from lateritic
ores with 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".


Forward-Looking Statements

This press release contains certain forward-looking statements. Forward-looking
statements can generally be identified by the use of statements that include
such words as "believe", "expect", "anticipate", "intend", "plan", "forecast",
"likely", "may", "will", "could", "should", "suspect", "outlook", "projected",
"continue" or other similar words or phrases. Forward-looking statements in this
document include, but are not limited to, statements regarding operating
performance, production, commodity prices, priorities and plans, anticipated
financial performance, business prospects, and certain corporate objectives,
goals and plans. Forward-looking statements are not based on historic facts, but
rather on current expectations, assumptions and projections about future events.
They are based on information available to management and/or assumptions
management believes are reasonable. Many factors could cause results to differ
materially from the results discussed in the forward-looking statements.
Although the forward-looking statements are based on what management believes to
be reasonable assumptions, Sherritt cannot assure investors that actual results
will be consistent with such forward-looking statements and such forward-looking
statements should not be unduly relied upon. All forward-looking statements in
this press release are made as of the date of this press release. Except as
required by applicable securities laws, Sherritt does not intend and does not
assume any obligations to update or revise the forward-looking statements. The
Corporation's risk factors are discussed in disclosure documents filed by
Sherritt with Canadian securities regulators. Reference should be made to the
management discussion and analysis in Sherritt's annual and interim financial
statements and its annual information form for the year ended December 31, 2013
and dated March 26, 2014, all of which are available on SEDAR at www.sedar.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Investor inquiries:
Kingsdale Shareholder Services
North American Toll-Free: 1-800-749-9197
International Collect Calls: 416-867-2272
contactus@kingsdaleshareholder.com


Sherritt International Corporation
416-935-2451
Toll-free: 1-800-704-6698
investor@sherritt.com


Sherritt International Corporation
416-935-2421
Toll-free: 1-888-625-3448
communications@sherritt.com
www.sherritt.com


Media inquiries:
Longview Communications
Joel Shaffer: 416-649-8006
Alan Bayless: 604-694-6035
Sherritt (TSX:S)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Sherritt Charts.
Sherritt (TSX:S)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Sherritt Charts.