Novadx Annouces New Strategic Direction Through Investment in Near Term Metallurgical Coal Production

October 22, 2008
Novadx Annouces New Strategic Direction Through Investment in Near Term Metallurgical Coal Production

(Vancouver, BC, October 22, 2008) NovaDX Ventures Corp. ("NovaDX") -TSX-V: NDX is pleased to announce that it has entered into an agreement to provide capital to a new company established by NovaDX solely to acquire and mine high quality metallurgical coal deposits in the United States. This new company has purchased leased interests on surface, mineral and mining rights for a 173 acre property in the State of Alabama and has entered into negotiations to acquire additional properties contiguous with this first property. The Company intends to use contract miners to strip mine an area which has not been previously mined and use proven highwall mining technology to mine the coals seam exposed by highwalls left from previous strip mining operations in the early 1970's. The Company expects to be in production by the end of June, 2009 subject to final permits being granted.

The subject metallurgical coal deposit is of high quality and in high demand and located in a traditional coal mining area. Infrastructure is excellent with existing road access to the property, skilled labor available locally, power available at the property boundary and close proximity to two major coking facilities who are customers for the product within approximately 40 miles by highway. Waterborne and rail based access to export markets are also close to the deposit.

Neil MacDonald commented, "as a result of weak market conditions for junior resource exploration companies, over the past few months we have been evaluating many projects that are able to generate positive net cash flow from production in the near term. We have been pursuing these projects in an effort to strengthen the financial performance of our overall portfolio. Entering into these agreements to acquire this metallurgical coal mine represents a first step toward allocating investment capital under this new strategic direction. We believe that metallurgical coal prices will continue to be less volatile than thermal coal prices and that the future for metallurgical coal prices, particularly of the quality we intend to mine and sell from this project, remains bright with continuing shortages of metallurgical coal predicted by industry participants."

The Company also announces that it has granted incentive options to certain officers, consultants and employees of the Company, in accordance with its Stock Option Plan, for the purchase of a total of 550,000 common shares of the Company at a price of 20 cents for a period of five years, subject to regulatory approval.

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 or Rick Peterson 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 .