02 March 2010

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

Novadx Announces Q2 2010 Financial Results and New Appointment

(Vancouver, BC, March 2, 2010) Novadx Ventures Corp (“Novadx”) (TSX-V: NDX) announces that it has released its interim financial statements for the second quarter ended December 31, 2009.

Novadx’s current principal objectives are to provide its shareholders with long-term growth through capital appreciation of its investments in a portfolio of junior resource exploration companies and to build a base of sustainable cash flow from its wholly owned subsidiary MCoal Corporation (“MCoal”), complemented by fee revenue from its advisory business.

MCoal is currently actively acquiring and developing high quality coal reserves in the Appalachian coal fields of the USA.  MCoal's first project the Rosa Coal Mine, a metallurgical coal deposit located in Northern Alabama, received its final mine permits on December 31, 2009.  MCoal intends to bring the Rosa Coal Mine into production in early 2010 and, is currently actively assessing several other coal deposits in Alabama, Kentucky and Tennessee.

The Company is also pleased to announce the appointment of Valerie Helsing as Chief Financial Officer.  Ms. Helsing is a Certified Public Accountant (California) and a Certified Management Accountant (British Columbia) with over 20 years public practice experience in Canada and the US. Ms. Helsing presently holds the position of CFO for Argentex Mining Corporation and for the past nine years - until May of 2009 - Ms. Helsing was advising U.S. and Canadian companies on finance and regulatory matters. From 1997 until 2000, she worked with an SEC review partner in the Los Angeles office of a well-known international audit firm and, from 1984 until 1997 she worked in that audit firm’s Vancouver office as a senior manager.

Ms. Helsing received her CPA designation in 2001, her CMA designation in 1996 and holds a BA in economics and commerce from Simon Fraser University (1979).  Ms. Helsing will be replacing Iqbal Boga as Novadx’s CFO.

Figures for summarized unaudited interim and audited annual financial information are as follows (all figures in Canadian dollars and in accordance with Canadian GAAP):

The Company’s net loss totaled $678,959 for the three months ended December 31, 2009, with basic and fully diluted loss per share of $0.02.  This compares with a net loss of $1,704,180 with basic and fully diluted loss per share of $0.08 for the three months ended December 31, 2008.  The Company has taken steps to reduce expenses and has changed its focus to the development of the Rosa Coal Mine.  The previous year’s economic state had a direct negative impact on the Company’s ability to pursue investment banking and investment advisory opportunities and thus income.  The decrease of $1,025,221 in net loss was principally due to:

Income (loss) before Expenses

Income before expenses increased by $1,042,687 from a loss of $1,072,117 for the three months ended December 31, 2008 to a gain of $29,430 for the three months ended December 31, 2009; this increase was primarily due to:

• Fee income decreased by $94,178 from $94,178 for the three months ended December 31, 2008 to $nil for the three months ended December 31, 2009 due to a significant decrease in fees from advisory activities.
• Investment income increased by $1,195,725 from a loss of $1,166,295 for the three months ended December 31, 2008 to a gain of $29,430 for the three months ended December 31, 2009.  This increase was primarily due to a decrease in loss on the disposal of investments offset by a decrease in unrealized gain on the disposal of investments.

Expenses

The Companies expenses increased by $183,432 from $206,387 for the three months ended December 31, 2008 to $389,819 for the three months ended December 31, 2009; this increase was primarily due to:

• Shareholder communication costs for the three months ended December 31, 2009 were $80,773 compared to $19,152 for the same period in the previous year.  This increase was due to increased expenditures on corporate communications, advertising, third party investor relations services and related costs to increase shareholder and investor awareness of the Company’s coal mining activities.
• Interest and bank charges for the three months ended December 31, 2009 was $56,977 compared to $1,210 for the same period in the previous year.  This increase is mostly due interest accrued on our US $1,000,000 debenture.
• The above increases were offset by management and office personnel costs for the three months ended December 31, 2009 of $12,887 compared to $53,979 for the same period in the previous year.  The decrease is due to the reduction of staff during the interim period as well as the fact that a portion of the current period’s management costs were attributed to development of the coal project.

Development of Coal Project

• MCoal invests in the acquisition, development and mining of high quality coal deposits in the United States.  During the three months ended December 31, 2009, the Company spent $318,570 as compared with $425,676 for the three months ended December 31, 2008 on preliminary feasibility, permitting, engineering, exploration and test mining.

The Company’s net loss totaled $1,128,121 for the six months ended December 31, 2009, with basic and fully diluted loss per share of $0.03.  This compares with a net loss of $5,082,582 with basic and fully diluted loss per share of $0.23 for the six months ended December 31, 2008.  The Company has taken steps to reduce expenses and has changed its focus to the development of the Rosa Coal Mine.  The previous year’s economic state had a direct negative impact on the Company’s ability to pursue investment banking and investment advisory opportunities and thus income.  The decrease of $3,954,461 in net loss was principally due to:

Income (loss) before Expenses

Loss before expenses decreased by $4,125,683 from a loss of $4,141,069 for the six months ended December 31, 2008 to a loss of $15,386 for the six months ended December 31, 2009; this decrease was primarily due to:

• Fee income decreased by $149,529 from $149,529 for the six months ended December 31, 2008 to $nil for the six months ended December 31, 2009 due to a significant decrease in fees from advisory activities.
• Investment loss decreased by $4,275,212 from a loss of $4,290,598 for the six months ended December 31, 2008 to a loss of $15,386 for the six months ended December 31, 2009.  This decrease was primarily due a decrease in loss on the disposal of investments and an increase in the unrealized gain on the disposal of investments.

Expenses

The Companies expenses decreased by $17,352 from $515,837 for the six months ended December 31, 2008 to $498,485 for the six months ended December 31, 2009; this decrease was primarily due to:

• Management and office personnel costs for the six months ended December 31, 2009 were $32,886 compared to $223,689 for the same period in the previous year.  The decrease is due to the reduction of staff during the interim period as well as the fact that a portion of the current period’s management costs were attributed to the development of the coal project.
• Interest and bank charges for the six months ended December 31, 2009 were $90,577 compared to $1,417 for the same period in the previous year.  This increase is mostly due interest accrued on our US $1,000,000 debenture.

Development of Coal Project

• MCoal invests in the acquisition, development and mining of high quality coal deposits in the United States.  During the six months ended December 31, 2009, the Company spent $614,250 as compared with $425,676 for the six months ended December 31, 2008 on preliminary feasibility, permitting, engineering, exploration and test mining.

About MCoal: MCoal Corporation, a wholly owned subsidiary of Novadx Ventures Corp., 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 that have historically used the Rosa Coal in their operations.

About Novadx: Novadx is a Vancouver-based Investment Company whose primary focus is on providing merchant banking services to natural resource companies. Novadx  structures and makes direct equity investments  as a principal and provides management and other related services to companies in specific resource sectors, such as MCoal Corporation, a subsidiary company currently permitting a metallurgical coal mine in the State of Alabama, USA.  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 and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release 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 about 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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