December 02, 2008
NovaDX Announces Financial Results for the First Three Months of Fiscal 2009

NovaDX Ventures Corp, President & CEO, Neil MacDonald, reports:

(Vancouver, BC, December 02, 2008) NovaDX Ventures Corp ("NovaDX") - TSX-V:NDX - has reported its first quarter fiscal 2009 financial results for the three month period ending September 30, 2008.

With the continuing volatility in the market for junior resource companies for the three months ending September 30, 2008, NovaDX posted a net loss of $3,378,402, or $0.15 per share (basic and fully diluted), driven primarily by an unrealized decrease of $3,096,278 in the value of its investment portfolio.

"The results for our first quarter are disappointing; however, they reflect the unprecedented decline in the overall market as a result of the weak world economic condition. At NovaDX, we believe that now is the time to be proactive. Therefore, as announced on October 22, 2008, we have implemented a new strategic investment plan with the goal of strengthening our overall financial condition to weather these uncertain markets," said NovaDX CEO Neil MacDonald.

A breakdown of Q1 Fiscal 2009 Results, as well as Q4 Fiscal 2008 and YE Fiscal 2008 Results as of June 30, 2008, is as follows (all figures in Canadian dollars and Canadian GAAP):

Outlook

Weak market conditions in the US and Canada continue to put pressure on the junior resource markets in Canada. The recent weakness in financial service and other bellwether stocks on the major markets, coupled with the ongoing debt crisis in the United States and general economic indicators pointing to a world wide recession, has caused investors to convert holdings into cash as quickly as possible and the lack of liquidity has caused the junior resource sector to drift much lower on thin trading volumes.

Despite the decline in the market capitalization of our investee companies, management of most of these companies continues to deliver positive results which by and large have been interpreted by the market as a liquidity opportunity. We believe that these companies are building fundamental value in their projects and although this value is not currently being reflected in their market capitalizations, we are confident that it will become reflected once the current weakness in the financial markets begins to turn around.

With the announcement of our investment in the metallurgical coal business on October 22, 2008, NovaDX has shifted its investment focus towards investing in promising near production projects in the resource sector. We believe that by pursuing this strategy we will be able to stabilize the value of our investment portfolio from cash flow generated by investment in these near production projects. Although we expect the current volatility in these markets to continue at least in the near term, we believe that we will be able to navigate through this unpredictable market condition through a disciplined and focused investment approach. We will endeavor to continue to build our funds under management and administration and grow our investment banking business. Our goal is to preserve capital and maximize our return on capital while mitigating risk through a strategy of investment diversification, fulfilling an active advisory role with management of our portfolio companies, and sound portfolio management.

Complete financial statements for NovaDX may be viewed at www.sedar.com.

About NovaDX: NovaDX is a Vancouver-based investment firm whose primary focus is on providing merchant banking and other business advisory services to micro-cap natural resource issuers, a largely overlooked but important sector of the equity markets. NovaDX's business plan involves seeking out investment opportunities in companies that have quality management and projects that demonstrate an above average opportunity for new resource discoveries. NovaDX works closely with management of these companies with the objective of mitigating risk and enhancing the value of its investments. NovaDX intends to pursue opportunities in North America and abroad. NovaDX seeks a return on its investments supplemented with revenue from investment banking, investment fund administration and advisory services. For more information please visit www.novadx.com.

ON BEHALF OF THE BOARD
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of such jurisdiction.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

For more information, please contact Neil MacDonald at 604-633-2776 or send us an email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .