NDX

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Novadx Ventures Corp. ("Novadx") (TSX VENTURE:NDX) provided an update today on
the repayment by its wholly-owned subsidiary, MCoal Corporation ("MCoal"), of
MCoal's Series "A" Secured Convertible Debentures (the "Series A Debentures")
and Series "B" Secured Convertible Debentures (the "Series B Debentures"). As
announced on June 11, 2010, MCoal had previously been provided notice by the
holders of the Series A Debentures of their intention to convert the Series A
Debentures into a 25% joint venture interest in MCoal's Rosa Coal Mine located
in northern Alabama. Despite MCoal's efforts to settle the terms of a joint
venture agreement with the holders of the Series A Debentures so as to allow the
conversion to take place, no agreement was ever reached and the conversion did
not occur. As such, the aggregate principal amount of US$1,400,000 plus accrued
interest on the Series A and Series B Debentures was repaid in full on December
10 and 13, 2010. However, despite the fact that no joint venture agreement was
arrived at and the debentures have been repaid, the holders of the Series A and
Series B Debentures have refused to accept payment and have indicated that they
continue to intend to convert their Series A Debentures into the previously
announced joint venture interest. 


Novadx believes that there is no merit in the holders' position and has
commenced a Petition before the Supreme Court of British Columbia for a
declaration that it and MCoal have fulfilled all of their obligations under the
Series A and Series B Debentures. The holders have in turn filed a Notice of
Claim before the Supreme Court of British Columbia seeking an order that they
may still convert their Series A Debentures into a joint venture interest in the
Rosa Coal Mine. Novadx provided notice to the holders that it considered their
Notice of Claim to be improper and gave them a deadline of March 3, 2011 to
respond to the Petition, which they have now done. Novadx intends to set the
petition down for hearing shortly and intends to vigorously assert its rights
under the Series A and Series B Debentures and demonstrate that the holders
failed to take the necessary steps to convert, despite their previously
announced intention to do so. However, there can be no guarantee that Novadx
will be successful in this regard. 


Novadx has today refiled its interim financial statements for the three-month
and six-month periods ended December 31, 2010 and its management's discussion
and analysis for the same period to add a subsequent event note disclosing this
dispute.


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

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. 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.


This release contains "forward-looking information" that is based on Novadx's
expectations, intentions, plans, beliefs, estimates and projections as of the
dates as of which those statements were made. This forward-looking information
may include, among other things, statements with respect to future production at
the Company's operating mines and other operations. Generally, this
forward-looking information can be identified by the use of forward-looking
terminology such as "outlook", "anticipate", "project", "target", "believe",
"estimate", "expect", "intend", "should", "scheduled", "will", "plan", "would"
and similar expressions. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause Novadx's actual
results, level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking information
and is developed based on assumptions about such risks, uncertainties and other
factors, including but not limited to changes in commodity prices; the strength
of the United States economy; the effects of competition and pricing pressures;
the oversupply of, or lack of demand for, the Company's products; currency and
interest rate fluctuations; various events which could disrupt the Company's
operations; the Company's ability to obtain additional funding on favourable
terms, if at all; and the Company's ability to anticipate and manage the
foregoing factors and risks. Additionally, statements related to the quantity or
magnitude of coal deposits are deemed to be forward looking statements. The
reliability of such information is affected by, among other things,
uncertainties involving geology of coal deposits; uncertainties of estimates of
their size or composition; uncertainties of projections related to costs of
production; the possibilities in delays in mining activities; changes in plans
with respect to exploration, development projects or capital expenditures; and
various other risks including those related to health, safety and environmental
matters. Although Novadx has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate. Accordingly, readers
should not place undue reliance on forward-looking statements. Novadx disclaims
any intent or obligations to update or revise publicly any forward-looking
statements whether as a result of new information, estimates or options, future
events or results or otherwise, unless required to do so by law.

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