Nextsource Materials Inc (NSRCF)

[Venturer1]

New Madagascar Commercial Mining Production:

Sherritt International Corporation ("Sherritt") (TSX:S) today announced that commercial production has been achieved at the Ambatovy nickel operations in Madagascar.

"Bringing Ambatovy to commercial status is a key milestone in its development as a long-life, low-cost producer of finished nickel and finished cobalt," said David Pathe, President and CEO of Sherritt. "I want to thank all of the employees who have worked diligently and safely to achieve this major milestone."

Commercial production is defined as 70% of ore throughput of nameplate capacity in the Pressure Acid Leach (PAL) circuit on average over a thirty-day period and is the point at which all revenue and operating costs cease to be capitalized.

For purposes of Sherritt's financial statements, Sherritt's share of earnings (losses) from Ambatovy will begin to be recognized beginning February 1, 2014.

The focus at Ambatovy remains on optimizing operating performance to achieve nameplate capacity (60,000 tpa finished nickel and 5,600 tpa finished cobalt, 100% basis).