Novadx Ventures Corp.
TSX VENTURE : NDX

Novadx Ventures Corp.

February 03, 2011 16:44 ET

Novadx Provides Update on Further Appeal Launched by Environmental Group

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 3, 2011) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

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

Novadx Ventures Corp. (TSX VENTURE:NDX) ("Novadx" or the "Company") and its wholly-owned subsidiary, MCoal Corporation ("MCoal") announce the Southern Environmental Law Center ("SELC"), on behalf of the Black Warrior River Keepers, Inc. and Friends of the Locust Fork, Inc. (the "Appellants"), has filed a further appeal with the Alabama Court of Civil Appeals contesting the Alabama Department of Environmental Management's ("ADEM") 2009 issuance of National Pollutant Discharge Elimination System ("NPDES") Permit No. AL0080080 (the "Permit") to MCoal, for operation of its Rosa mine, in Blount County, Alabama.

As previously disclosed in the Company's news releases dated July 2, 2010, October 7, 2010 and December 16, 2010, the Appellants have commenced actions to contest the issuance of the Permit on two prior occasions without success.

On November 20, 2009, the Appellants filed a petition for a hearing to contest ADEM's action with the Alabama Environmental Management Commission ("AEMC") alleging ADEM had not followed proper rules and procedures in issuance of the Permit. MCoal voluntarily joined ADEM in its defense of this action. On June 25, 2010, the AEMC, by unanimous decision of the Commissioners, adopted the recommendation of its Administrative Law Judge and ruled in favor of ADEM's actions, affirming the Permit was validly issued.

On July 23, 2010, the Appellants filed an appeal of the decision of the AEMC to the Circuit Court for Montgomery County, Alabama. MCoal voluntarily joined ADEM in its defense of this action. On December 8, 2010, Circuit Court Judge Charles Price ruled in favor of ADEM, affirming the AEMC's decision that the Permit was validly issued.

Neil MacDonald commented, "This appeal is without merit, particularly considering that the Circuit Court Judge, Environmental Management Commission, Administrative Law Judge, and ADEM have all reviewed this Permit and have all concluded the Permit was lawfully issued by ADEM. This action by the Appellants does not impact the validity of the Permit under AEMC's regulations, and operations at the Rosa Mine will continue as planned."

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 that has commenced production from the Rosa mine, a metallurgical coal mine in the State of Alabama, USA.

For more information please visit www.novadx.com.

About MCoal: MCoal Corporation, a wholly-owned subsidiary of Novadx Ventures Corp., operates the Rosa metallurgical coal mine in Northern Alabama and is bringing the Rex No. 1 mine into production this year. MCoal is actively increasing its reserves and production through the evaluation and acquisition of high quality coal assets in the Appalachia coal region.

ON BEHALF OF THE BOARD

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.

Contact Information

  • Novadx Ventures Corp.
    Neil MacDonald
    CEO
    (604) 633-2776 ext 23
    nmacdonald@novadx.com
    www.novadx.com
    or
    Gale Capital Corp.
    Mark van der Horst
    Investor Relations
    (604) 200-1480
    or
    Gale Capital Corp.
    Mike Rowsome
    Investor Relations
    (604) 200-1480
    or
    Gale Capital Corp.
    Christopher Haugen
    Investor Relations
    (604) 200-1480
    info@galecapital.com