Mr. Jim Taylor reports

NORDEX EXPLOSIVES ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Nordex Explosives Ltd. is releasing the results of its annual and special meeting of shareholders held in Montreal on June 14, 2012. The shareholders re-elected Dr. Lee Luciani and James O'Reilly and elected Peter Crossgrove, Thor Eaton and Joseph Hunnisett to the board.

Mr. Crossgrove is the former chairman and a founder of Masonite International Corp., a door manufacturing company, and a director of the Canadian Partnership Against Cancer. Mr. Crossgrove holds a bachelor of commerce degree from Concordia University and a master's degree in business administration from the University of Western Ontario. He is also a Sloan fellow of the doctoral program at Harvard Business School. Mr. Crossgrove is a recipient of the Queen's Jubilee Medal, a member of the Order of Canada and a member of the Order of Ontario. Mr. Crossgrove is currently the executive chairman of Excellon Resources Inc., a producer of silver-lead and silver-zinc concentrate. Prior to January, 1993, Mr. Crossgrove was vice-chairman and acting chief executive officer of Placer Dome Inc.

Mr. Eaton is a highly regarded businessman and philanthropist. He is currently the president of Notae Investments Ltd. and serves as a director of Eaton's of Canada Inc., Excellon Resources and Metaris Inc. He has previously served as a director of Lateegra Gold Corp. (2010 to 2011), West Timmins Mining Inc. (2006 to 2009) and Band-Ore Resources Ltd. (1996 to 2006). From 1973 to 1999, he was a director of T. Eaton Co. Ltd. Mr. Eaton is a trustee of the Thor E. & Nicole Eaton Family Charitable Foundation. The foundation has contributed to the livelihood of hospitals, environmental groups and Canadian cultural institutions, such as the Royal Ontario Museum, St. Michael's Hospital, the National Ballet of Canada, the Pontifical Institute of Mediaeval Studies and the Atlantic Salmon Association.

Mr. Hunnisett graduated from Laurentian University, Sudbury, Ont., in 1981 with an honours bachelor of commerce degree. He is a chartered accountant and has worked with Clarkson Gordon (now Ernst & Young). He has worked with several large manufacturing and distribution companies in a variety of senior financial and executive positions including corporate controller, director of manufacturing, chief financial officer, president and chief executive officer. In 1992, he joined ETI Explosives (a former Dupont company) and served for nine years as president and chief executive officer. He also served on the ETI board of directors from 2000 to 2006. In 2006, Mr. Hunnisett founded Ercott Capital Inc. and has served as its president and chief executive officer since incorporation.

Nordex thanks Jacques Levesque, Adel Amin and Andrew Bruziewicz for their service to the company and wishes them well in their future endeavours.

In addition, the shareholders approved the company's 10-per-cent rolling stock option plan pursuant to TSX Venture Exchange policies; the continuance of the company under the Canada Business Corporations Act; the creation of a share bonus plan for employees, officers and directors; and new bylaws of the company, repealing and replacing all current bylaws. Continuance of the company is subject to approval by the board of directors and the TSX-V. The rolling stock option plan and the share bonus plan are subject to the approval of the TSX-V.