August 31, 2009
Mcoal Corporation Appoints New Chief Operating Officer
Vancouver, BC, August 31, 2009. NovaDX Ventures Corp.'s ("NovaDX") (TSXV:NDX) wholly-owned subsidiary, MCoal Corporation ("MCoal"), is pleased to announce that Mr. Mark Reynolds has been appointed to the position of Chief Operating Officer.
Neil MacDonald, President and CEO of both NovaDX and MCoal commented that "as we move closer to receiving our Rosa Coal Project mine permit from the Alabama Surface Mining Commission, we are taking the steps to complement MCoal's senior management team with experienced people capable of managing the Rosa mine's start up and ongoing operation. Mr. Reynolds possesses a broad background in coal mining, transportation logistics and finance. We are pleased to have him join our team."
About MCoal: MCoal has been actively acquiring surface and mineral interests that cover the Rosa coal deposit. The Rosa Coal Project is a metallurgical coal mine project located in Blount County in Northern Alabama, approximately 40 miles from the City of Birmingham which is the location of two existing coking plants which have historically used the Rosa Coal in their operations. Previous strip mining of the fringes of the Rosa Coal deposit left a high-wall ideally suited for auger mining. In January 2009 MCoal conducted a successful test mine of the Rosa deposit extracting 250 tons using a triple auger. Based on the knowledge gained from this test mine, Management has developed detailed mine operating plans. The Rosa Coal Project can be operated 12 months per year and is located in a coal mining area, with well-developed infrastructure, services and skilled labour readily available. All exploration and development of the mine plan has been supervised by MCoal's qualified person, Sanford Hendon, P.Eng of McGehee Engineering Inc. who has been retained by MCoal to complete a National Instrument 43-101 report to confirm the reserves, resources and preliminary feasibility of the Rosa Coal Project. MCoal's long term plans are to develop several metallurgical coal mines in the Appalachian region.
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 near term production or new resource discoveries.
For more information please visit www.novadx.com.
This press release is not for distribution in the United States or over United States wire services.
ON BEHALF OF THE BOARD,
Neil MacDonald
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
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 about MCoal Corp. and NovaDX Ventures Corp. please contact:
Neil MacDonald, President and CEO
(604) 633-2776
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Robin Bjorklund, or
Griff Jones Investor Relations
OceanPoint Advisors Inc.
(604) 682-7339
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