March 24, 2008 08:21 ET

Nordex Explosives Announces Grant of Options

MISSISSAUGA, ONTARIO--(Marketwire - March 24, 2008) -


LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) announces that its Board of Directors has approved the granting of 245,000 options to purchase common shares in the capital of the company, pursuant to the Stock Option Plan approved by shareholders at the annual and special meeting of shareholders held on May 17, 2007. The options will vest as to 1/3 in each of the first three years of their life, and will expire on March 23, 2013. The exercise price for the options has been set at $0.48 per share, being the Discounted Market Price applied to the closing price of trading on March 20, 2008, being the previous trading day to the date of granting, in accordance with the terms of the Stock Option Plan.

The options have been granted to John Kozak, President and CEO of the company (55,000 options), James Taylor, COO of the company (45,000 options), A. Timothy Peterson, CFO and Chairman of the Board of Directors of the company (12,500 options), Bruce Bent, a director of the company (40,000 options), John Huxley, a director of the company (80,000 options) and Bruce Forth, a director of the company (12,500 options).

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 the accuracy of this release.

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