November 19, 2007 08:49 ET

Nordex Explosives Announces Appointment of Chief Financial Officer and Audit & Compensation Committee Members

MISSISSAUGA, ONTARIO--(Marketwire - Nov. 19, 2007) -


LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) today announced that Mr. A. Timothy Peterson has been appointed as Chief Financial Officer ("CFO") of the Corporation effective November 19, 2007 replacing Mr. Bruce Bent. Mr. Bent had been acting as CFO for the Corporation on an interim basis, and will remain as a member of the Corporation's Board of Directors, Audit and Compensation Committees. Mr. Peterson also holds the position of Chairman of the Board of Directors. In conjunction with his appointment as CFO, Mr. Peterson has resigned from the Corporation's Audit and Compensation Committees.

Mr John Huxley was also appointed to the Audit and Compensation Committees of the Corporation. Mr. Huxley has a law degree with extensive experience in the mining industry, corporate law, finance and governance. Mr. Huxley is a director of Kinross Gold Corporation and is on several of their committees including Audit, Compensation and Risk. Mr. Huxley co-founded Algonquin Power (now Algonquin Power Income Fund) where he has served as President.

Mr. Bent, Mr. Bruce Forth, and Mr. Huxley are the members of the Audit Committee and Compensation Committee of the Corporation.

Mr. Bent, Mr. Forth, Mr. Huxley Mr. John Kozak and Mr. Peterson make up the Board of Directors of Nordex Explosives Ltd.

Forward-Looking Statements

This press release contains forward-looking statements based on current expectations. These forward-looking statements contain various risks and uncertainties which could cause actual results to differ materially from those reflected in the forward-looking statements. Risks and uncertainties about the Company's business are more fully disclosed in the disclosure materials, financial statements and MD&A filed with the securities regulatory authorities in Canada on

ABOUT NORDEX EXPLOSIVES: LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) is a developer, manufacturer and distributor of explosives for the mining, quarry and road construction industries. Founded in 1970, its manufacturing operations and distribution centre is strategically located in one of the world's largest mining regions near Kirkland Lake, Ontario.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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