Novadx Ventures Corp.: MCoal Receives $25 Million Advance Payment From Sandstorm Coal Stream Financing

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. ("Novadx" or the "Company") (TSX VENTURE:NDX) is pleased
to announce that its wholly owned subsidiary, MCoal Corporation ("MCoal") has
received an advance payment of US$25 million (the "Second Upfront Deposit"), in
accordance with the US$38.0 million definitive Coal Production Payment Agreement
(the "Agreement") with Sandstorm Metals & Energy Ltd. ("Sandstorm") previously
announced on Nov 26, 2010. MCoal previously received an initial payment of US$5
million from Sandstorm as announced on January 7, 2011, bringing the aggregate
amount advanced under the Agreement to US$30 million. 


The Second Upfront Deposit has been advanced to MCoal because MCoal has
satisfied certain funding conditions, including the acquisition of a 100%
interest in Tiacme LLC, and its sole asset the Rex No. 1 Mine located in
Campbell County, Tennessee as announced January 24, 2011. In accordance with the
Agreements the remaining US$8 million advance payment will be remitted upon
completion of certain additional funding conditions including the acquisition of
the Ikerd group of companies' assets previously announced in July, 2010 (the
"Ikerd Acquisition"). MCoal and Sandstorm have agreed to extend the deadline
date to meet these conditions to occur on or before April 30, 2011.


MCoal intends to use the US$25 million to commence development and operations of
the Rex. No. 1 Mine and close the Ikerd Acquisition. 


Neil MacDonald, CEO of Novadx commented, "This US$25 million second advance
payment, represents a significant milestone achieved in our plans to grow the
Company. The net proceeds of this financing, which, based on our current share
capitalization, equates to approximately 34 cents per share cash infusion to our
treasury, will allow us to further develop and increase production at our two
fully-owned coal mines as well as further expand our coal mining assets through
completion of the Ikerd Acquisition."


Payment of the Second Upfront Deposit entitles Sandstorm to receive a coal
stream consisting of a 25% interest in the surface coal mined at the Rosa Mine
at a fixed ongoing payment of US$75.00 per ton replacing the 8.5% coal stream
announced on January 7, 2011 and a 25% interest in all the coal mined at the Rex
No. 1 Mine at a fixed ongoing payment of US$75.00 per ton for metallurgical
grade coal and US$55.00 per ton for non-metallurgical grade coal until such time
as the aggregate upfront deposits of US$30 million have been repaid. Thereafter,
Sandstorm's coal stream will reduce to a 16% interest for the life of each mine
(see November 26, 2010 News Release for details). 


Subject to the approval of the TSX Venture Exchange, Surge Capital Corp. will
receive a finder's fee of $1,250,000 (representing 5% of the Second Upfront
Deposit), payable in cash and 2,343,750 share purchase warrants (the "Warrants")
exercisable at $0.25 per share for a period of three years from the date of
issuance. The warrants and common shares issuable on exercise thereof will have
a hold period expiring four months and one day from the date of issuance.


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 www.novadx.com.


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. 


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.