Novadx Ventures Corp.

Novadx Ventures Corp.

March 31, 2011 18:52 ET

Novadx Announces Appointment of MCoal Vice President, Finance

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2011) -


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

Novadx Ventures Corp. ("Novadx" or the "Company") (TSX VENTURE:NDX) is pleased to announce that its wholly-owned subsidiary, MCoal Corporation ("MCoal"), has appointed Mr. Gregory Saragas as Vice President, Finance.

Mr. Saragas is a senior financial executive with over 20 years of financial management experience in the mining industry. Mr. Saragas joins MCoal from Nystar Americas, a global multi-metals company, with zinc mining and smelting operations in Tennessee. At Nystar, Greg acted as Commercial Manager, US Operations and was responsible for overseeing the finance, accounting, IT and purchasing activities of several mine sites and related smelting operations. Prior to joining Nyrstar, Mr. Saragas held the positions of Regional Accounting Officer with Massey Energy, the largest coal producer in Central Appalachia and Chief Financial Officer of Debra Lynn Coals, Inc.

Subject to the approval of the TSX Venture Exchange (the "Exchange"), Mr. Saragas will be granted 50,000 options to acquire common shares of Novadx at an exercise price of $0.45 per share for a period of five years. In addition, subject to Exchange approval, Mr. Saragas will receive 25,000 shares of Novadx as a signing bonus to be paid on June 20, 2011. These shares will be subject to a hold period of 4 months and a day from the date of their issuance at which time 25% of the shares will become free trading and thereafter 25% of the shares will become free trading at the end of each 3 month period.

Neil MacDonald, President and CEO of Novadx and President of MCoal Corporation commented, "We are pleased with the addition of Greg to our senior management team at MCoal. Greg is a highly motivated and experienced senior financial manager whose skills are very complimentary to the composition of our growing and experienced team. Greg's extensive mining finance and accounting background make him a natural fit for this role with MCoal."

About Novadx: Novadx Ventures Corp. is a Vancouver based mining investment company. Novadx's primary focus is to invest its capital to acquire and develop companies with active or near production high quality coal reserves in the US Appalachia coal region. Novadx intends to continue to grow the value of its coal investments through expanding production and reserves amongst its existing investments and by investing in additional acquisitions. Novadx is actively evaluating a number of high quality coal acquisition opportunities. For more information please visit

About MCoal: MCoal Corporation is a wholly-owned subsidiary of Novadx Ventures Corp. which operates the Rosa coal mine in Blount County, Alabama and is developing the Rex No.1 coal mine in Campbell County, Tennessee.


Neil MacDonald, President and CEO and Director

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.

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.

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