Strong Investment Banking Fees Fuel NovaDX To Fourth Consecutive Quarter of Profitability

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November 20, 2007
Strong Investment Banking Fees Fuel NovaDX To Fourth Consecutive Quarter of Profitability

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

(Vancouver, BC, November 20, 2007) NovaDX Ventures Corp ("NovaDX") - TSXV: NDX - reported today its first quarter fiscal 2008 financial statements for the threemonth period ending September 30, 2007.

The Company is pleased to announce its fourth consecutive quarter of profitability since the commencement of active business operations at the end of 2006. Revenue was $946,195, with net income for the period at $656,978, or $0.03 per share ($0.021 fully diluted).

A breakdown of Fiscal Q1 2008 Results, as well as Q4 2007 and YE Fiscal 2007 Results as of June 30, 2007, is as follows (all figures in Canadian dollars and Canadian GAAP):



"We are very pleased with the Company's overall financial performance for this quarter, which was the result of strong contributions from all three of the business silos that we operate in," said NovaDX CEO and President, Neil MacDonald.

"Our investment banking business was at record levels, the Fund management business continues its strong growth, and our investment portfolio performed well. The Net Asset Value of the Company gained 10.3% for the quarter, which is exceptional considering the very high volatility that the junior resource markets experienced in August and September."

NovaDX management states that the results for the three-month period ended September 30, 2007 reflect a growing level of Revenue and Income due to organic growth in all facets of its operations. Business growth has generated progressively increasing revenues and profitability since the end of the fourth quarter of calendar 2006. Near the end of Fiscal 2007 ending June 30, 2007, NovaDX realized a gain on the sale of investment assets as the Company capitalized on the appreciation in a number of investments in its portfolio.

Outlook
  • NovaDX expects the upward trend in gold and other precious metals prices to continue in the coming months as uncertainty regarding the US economy and strong demand for gold continues. In this environment NovaDX believes the outlook for junior exploration companies is favourable. The recent pullback in August has given the Company the opportunity to invest in and support many promising companies at attractive prices.
  • NovaDX will continue to build its funds under management through its wholly owned Canadian Small Cap Resource Fund flow-through Limited Partnerships. Following the recent closing of the $5 million maximum Offering of the CSCRF 2007 No. 2 LP, NovaDX intends to sponsor a larger CSCRF flow-through offering early in the New Year.
  • NovaDX recently entered the private client business and worked with a client to deploy more than $11 million in flow-through investments in the junior resource sector as part of their overall tax planning strategy. This endeavour has proven very successful for both parties and the Company intends to expand this private client business in the coming months.

Complete financial statements for NovaDX Ventures Corp. 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, Rick Peterson or Adam Ho 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 .

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