Cliffs: Agreement cancelled because of 'multiple and material breaches'

NEWS RELEASE CLIFFS NATURAL RESOURCES ************************* CLEVELAND, OH - Cliffs Natural Resources Inc. today announced that, effective October 5, 2015, it has terminated its Pellet Sale and Purchase Agreement with Essar Algoma.

NEWS RELEASE

CLIFFS NATURAL RESOURCES

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CLEVELAND, OH - Cliffs Natural Resources Inc. today announced that, effective October 5, 2015, it has terminated its Pellet Sale and Purchase Agreement with Essar Algoma.

Cliffs' decision was made as a result of Essar Algoma's multiple and material breaches under the agreement.

While the agreement has been terminated, Cliffs remains open to discussing supplying Essar with pellets on commercially reasonable terms consistent with a just-in-time iron ore supply arrangement.

About Cliffs Natural Resources Inc.

Cliffs Natural Resources Inc. is a leading mining and natural resources company in the United States.

The Company is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota.

Cliffs also operates an iron ore mining complex in Western Australia.

Additionally, Cliffs produces low-volatile metallurgical coal in the U.S. from its mines located in Alabama and West Virginia.

Driven by the core values of safety, social, environmental and capital stewardship, Cliffs' employees endeavor to provide all stakeholders operating and financial transparency.

News releases and other information on the Company are available at www.cliffsnaturalresources.com

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