NORDEX EXPLOSIVES LTD.
TSX VENTURE : NXX

NORDEX EXPLOSIVES LTD.

November 29, 2006 11:08 ET

Nordex Explosives Announces Third Quarter 2006 Results

MISSISSAUGA, ONTARIO--(CCNMatthews - Nov. 29, 2006) -

Not for U.S. Distribution

LES EXPLOSIFS NORDEX LTEE./NORDEX EXPOSIVES LTD. (TSX VENTURE:NXX) today announced financial results for its third quarter ending September 30, 2006.

Revenue for the quarter ending September 30, 2006 was $1,166,844 compared to $979,109 for the same period in 2005. Revenue for the nine months ending September 30, 2006 was $3,512,175 compared to $2,626,756 for the same period in 2005 for a year to date increase of 33.7%.

This quarter is the twelfth consecutive quarter that sales have increased over the same quarter in the previous year.

For the three months ending September 30, 2006, Nordex recorded a net income before taxes of $67,403 compared to a net income before taxes of $48,284 for the three months ending September 30, 2005. Net profit before taxes for Q3 2006 was 5.8% compared to 4.9% in Q3 2005. For the nine months ending September 30, 2006, Nordex recorded a net income before taxes of $217,005 compared to a net income before taxes of $125,862 for the previous year. Net income before taxes for the first nine months of 2006 has increased to 6.2% compared to 4.8% in the first nine months of 2005.

The financial statements and the management discussion & analysis for the quarter is available on SEDAR at www.sedar.com

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 www.sedar.com.

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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