Sandstorm Metals & Energy Ltd. has provided an updated resource and reserve estimates at the Rex No. 1 mine, owned and operated, by Novadx Ventures Corp.

-- Total measured and indicated resources of 38.1 million tons -- total proven and probable recoverable reserves of 11.3M tons -- Expected mine life over 20 years

An evaluation was conducted to verify previously reported resources and assist Novadx in developing its long-term mine plans at the Rex No. 1 Mine. The evaluation confirmed the existing grade and quality of the Rex seam and showed an 18% increase in Measured and Indicated resources. The estimated resources and potential reserves as of January 31, 2012 are provided in the table attached.


ESTIMATED RESOURCES

In situ tons
Resource category (thousands)

Measured 10,100
Indicated 28,000
Total measured and indicated 38,100
Inferred 9,600