Update on the Impact of Hurricane Ike on Sherritt Operations

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


Sherritt International Corporation ("Sherritt") (TSX:S) reported today that its
Moa Nickel facilities in Cuba have resumed partial operations with further
ramp-up procedures anticipated to occur later tonight. An assessment of the
damage is currently being undertaken to determine when full production can
resume. Management anticipates that finished nickel and cobalt production from
the Fort Saskatchewan refinery is not expected to be impacted in 2008 due to
this hurricane, subject to the timing of the ramp-up to full production at Moa
Nickel.


Sherritt's Oil & Gas and Power operations were shut down last night as a
precautionary measure. No injuries have occurred and damage to equipment has
been minimal. Production is anticipated to begin later tonight.


About Sherritt

Sherritt is a diversified natural resource company that produces nickel, cobalt,
thermal coal, oil and gas and electricity. It also licenses its proprietary
technologies to other metals companies. Sherritt's common shares are listed on
the Toronto Stock Exchange under the symbol "S".


Forward-looking Statements

This news release contains certain forward-looking statements. Forward-looking
statements generally can be identified by the use of statements that include
words such as "believe", "expect", "anticipate", "intend", "plan", "forecast",
"likely", "may" or other similar words or phrases. Similarly, statements in
respect to expectations concerning assets, prices, costs, dividends,
foreign-exchange rates, earnings, production, market conditions, capital
expenditures, commodity demand, risks, availability of regulatory approvals,
corporate objectives and plans or goals, are or may be forward-looking
statements. These forward-looking statements are not based on historical facts,
but rather on current expectations, assumptions and projections about future
events. These forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that are beyond the Corporation's ability to
control or predict. Actual results and developments may differ materially from
those contemplated by this news release depending on, among others, such key
factors as business and economic conditions in Canada, Cuba, Madagascar and the
principal markets for Sherritt's products. Key factors that may result in
material differences between actual results and developments and those
contemplated by this news release also include the supply, demand and prices for
Sherritt's products; dependence on significant customers; deliveries; production
levels; production and other anticipated and unanticipated costs and expenses;
energy costs; premiums or discounts realized over London Metals Exchange ("LME")
cash and other benchmark prices; interest rates; foreign exchange rates; rates
of inflation; changes in tax legislation; the timing, capital costs and
financing arrangements associated with development projects; the timing of the
receipt of government and other approvals; political unrest or instability in
the countries where Sherritt operates; risks related to collecting accounts
receivable and repatriating profits and dividends from Cuba; risks related to
foreign exchange controls on Cuban government enterprises to transact in foreign
currency; risks associated with the United States embargo on Cuba and the
Helms-Burton Act; risks associated with mining, processing and exploration
activities; market competition; developments affecting labour relations and the
market for skilled workers; environmental and utility industry regulation; and
other risk factors listed in this news release and from time to time in
Sherritt's continuous disclosure documents such as its annual information form
and management information circular.

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