Mr. Jim Taylor reports

NORDEX EXPLOSIVES ANNOUNCES RECORD Q1 REVENUES AND RECORD Q1 NET PROFITS

Nordex Explosives Ltd. has released its unaudited financial statements for the first quarter of 2013, and had its highest first quarter sales revenues and highest first quarter net profit in the 42-year history of the company. Record sales revenues are attributed to continuing diversification and the securing of new business in the construction and quarry markets while maintaining and increasing business with existing customers.

Highlights from the 2013 first quarter

Total revenues for the period were $3,526,804, an increase of $260,202, or 8 per cent, over prior-year-period revenues of $3,266,602. The increase in the first quarter (typically the slowest quarter of the year) demonstrates the increasing confidence in the products and services provided by Nordex to both existing clients as well as new customers in the non-mining segment of the explosives industry. The increase was also achieved in spite of unusually harsh weather conditions experienced this past winter.

The percentage of revenues from non-mining-related customers continues to increase, and this trend is expected to continue throughout 2013.

Gross profit for the period was $728,071, an increase of $94,773, or 15 per cent, over the gross profit of $633,298 in first quarter 2012.

Net income after tax for the period was $122,337, an increase of $9,029 over the net income after tax of $113,308 in first quarter 2012.

Jim Taylor, president and chief executive officer, stated: "This is our fifth successive period of quarter-over-quarter increases in revenue and profitability at Nordex. We will continue to implement our growth strategies and expect reductions in our manufacturing costs through economies of scale as a result of anticipated continued increases in sales volumes in 2013. In addition, Nordex expects to further introduce and promote its new proprietary lines of higher-margin specialty products in the second half of the year. Our recent success is a direct result of the ongoing contributions and guidance provided by an experienced professional board of directors, and the efforts of our valued employees and management team."

The financial information for the periods indicated as set out in this news release is presented on a basis consistent with the accounting principles used to prepare Nordex's most recently filed financial statements. The contents of this news release should be read in conjunction with the complete unaudited financial statements and the company's annual financial statements, and related management discussion and analysis (MD&A) for the periods under the company's profile available on SEDAR. Readers are advised that the company faces various risk factors with respect to its business and operations: for further information please see the MD&A of Nordex available on SEDAR.

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