NovaDX Posts Small Loss in Volatile Markets Over First Nine Months of Fiscal 2008

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

NovaDX Ventures Corp. ("NovaDX") (TSX VENTURE:NDX) reported today its third quarter fiscal 2008 financial results for the three-month and nine-month period ending March 31, 2008.

Despite very volatile markets for the nine months ending March 31, 2008, NovaDX posted a net loss of $126,161, or $0.006 per share. NovaDX had a net loss of $2,190,781 for the quarter ending March 31, 2008 ($0.099 per share basic) driven primarily by an unrealized decrease of $2,557,501 in the value of its investment portfolio.

"There's no doubt that the early stage resource market is very volatile at times, and we certainly saw that in this last quarter with much lower values in our sector," said NovaDX CEO Neil MacDonald.

"We've kept expenses down and as a result are showing only a small loss so far this fiscal year, with most of that coming from unrealized losses in our investment portfolio. We're confident that over time the market value of our holdings will more accurately reflect what we feel are the real assets and growth potential of many of the companies that we've invested our capital in over the past few quarters. Until then, we continue to be encouraged by the performance of our investment banking and investment management business."

For the three months ending March 31st, NovaDX recorded realized income of $366,720 (vs. 2007 $179,050) on realized revenue of $756,444 (vs. 2007 $355,196). For the nine months ending March 31st NovaDX recorded realized income of $1,004,127 (vs. 2007 $212,264) on realized revenue of $2,449,963 (vs. 2007 $682,943).

A breakdown of Fiscal Q3 2008 Results, as well as Q1/Q2/Q3 2008 and YE 
Fiscal 2007 Results as of June 30, 2007, is as follows (all figures in 
Canadian dollars and Canadian GAAP):

--------------------------------------------------------------------------
                                         Q1/Q2/Q3     Q1/Q2/Q3 
                Q3 2008      Q3 2007         2008         2007     YE 2007
                    3 mths ended              9 mths ended
              31-Mar-08    31-Mar-07    31-Mar-08    31-Mar-07   30-Jun-07
            --------------------------------------------------------------
Revenue
 Fee Income
  Investment
   banking  $    (8,163) $    11,655  $ 1,442,874  $   239,013 $   281,403
  Investment
   mgmt     $    28,848  $         -  $   167,244  $         - $    39,603
            --------------------------------------------------------------
  Total Fee
   Income   $    20,685  $    11,655  $ 1,610,118  $   239,013 $   321,006
  Investment
   Income   $(1,821,742) $   343,541  $  (290,443) $   443,930 $ 1,313,895
            --------------------------------------------------------------
   Total    $(1,801,057) $   355,196  $ 1,319,675  $   682,943 $ 1,634,901
Expenses    $   389,724  $   176,146  $ 1,445,836  $   470,679 $   749,406
            --------------------------------------------------------------
Income
 (loss) for
 the period $(2,190,781) $   179,050  $  (126,161) $   212,264 $   885,495
            --------------------------------------------------------------
            --------------------------------------------------------------
  E.P.S. -
   basic    $    (0.099) $     0.017  $    (0.006) $     0.022 $     0.080
  E.P.S. -
   fully
   diluted  $    (0.099) $     0.017  $    (0.006) $     0.022 $     0.080
Weighted
 avg. shares
 outstanding
 Basic       22,176,245   10,263,786   22,072,005    9,690,281  10,868,866
 Fully
  diluted    22,176,245   10,263,786   22,072,005    9,690,281  11,047,090
--------------------------------------------------------------------------


A breakdown of trailing twelve months earnings to March 31 is as follows 
(all figures in Canadian dollars and Canadian GAAP):

                            Weighted Ave. # Shares            EPS
                           -----------------------  ----------------------
                                             Fully                   Fully
                Earnings        Basic      Diluted      Basic      Diluted
            --------------------------------------------------------------
Q4 2007     $    673,231   14,862,742   19,455,376  $   0.045   $    0.035
Q1 2008     $    656,978   22,018,523   31,467,150  $   0.030   $    0.021
Q2 2008     $  1,407,642   22,019,485   31,468,112  $   0.064   $    0.045
Q3 2008     $ (2,190,781)  22,176,245   22,176,245  $  (0.099)  $   (0.099)
            --------------------------------------------------------------
Trailing
 12 Months  $    547,070   20,306,246   27,900,430  $   0.027   $    0.020
            --------------------------------------------------------------

Outlook

Weak market conditions in the US and Canada continued to put pressure on the junior resource markets in Canada. With investors seeing further weakness in financial service and other bellwether stocks on the major markets, and with economic indicators pointing to a recession in the United States, investors largely stayed on the sidelines this past quarter. As a result of this lack of liquidity, and despite the very strong and continued upswing in the price of most commodities, the junior resource sector drifted lower on thin trading volumes.

In these difficult markets, Faircourt CSCRF 2008 No. 1 Limited Partnership nevertheless closed a $5.3 million Flow-through Offering on April 8th. The Partnership is jointly sponsored by NovaDX and Faircourt Asset Management Inc. of Toronto. NovaDX management believes that the current market weakness presents many potentially attractive flow-through share investment opportunities for the Faircourt CSCRF 2008 No. 1 LP.

The fourth quarter of fiscal 2008 will likely be an interesting one for NovaDX's investment banking business, as the Company is looking at a number of very interesting mandates in the resource sector in both mining and oil & gas.

Complete financial statements for NovaDX may be viewed at www.sedar.com.

About NovaDX: NovaDX is a Vancouver-based investment firm whose primary focus is on providing merchant banking and other business advisory services to micro-cap natural resource issuers, a largely overlooked but important sector of the equity markets. NovaDX's business plan involves seeking out investment opportunities in companies that have quality management and projects that demonstrate an above average opportunity for new resource discoveries. NovaDX works closely with management of these companies with the objective of mitigating risk and enhancing the value of its investments. NovaDX intends to pursue opportunities in North America and abroad. NovaDX seeks a return on its investments supplemented with revenue from investment banking, investment fund administration and advisory services. For more information please visit www.novadx.com.

ON BEHALF OF THE BOARD

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.

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. Website: www.novadx.com