ChroMedX Announces Biosensor Development and HemoPalm Update

Toronto, Ontario
November 24, 2014

ChroMedX Corp. (the “Company”) (CSE: CHX) (OTC: MNLIF) (Frankfurt: EIY2), a developer of in vitro diagnostics and point-of-care technologies is pleased to provide an update on the Company’s HemoPalm handheld analyser/Cartridge technology and the commencement of biosensor development.

Lead contractor, Aline Inc. has taken delivery of the first batch of biosensors in Rancho Dominguez, CA. and the initial test programme has commenced. The programme will be used to establish test protocols and methods as well as chemistry of electrodes for specific analytes and electronic circuitry to measure results.

“The initial tests have provided a clear indication that our technical direction is on track. ChroMedX, aided by a key expert on biosensor technology, is developing its own biosensor technology that will not only create new Intellectual Property for the Company but also provide a significant manufacturing cost advantage over sensor technology currently used in the market.” said Dr. Wayne Maddever, President & CEO of ChroMedX Corp.

Along with the above test programme, the Company has been testing shelf life stability of one of the key components of the HemoPalm cartridge. Results to date have shown stability which is expected to provide the HemoPalm cartridge with shelf life that meets or exceeds that of similar products on the market.

The HemoPalm development programme continues with the refining of the electrochemistry of the sensors and construction of the analyser circuitry. The spectroscopic algorithm development programme will begin at McMaster University in Hamilton, Ontario and integration of the spectrometer with the analyser circuitry will occur in parallel at Aline Inc. in Rancho Dominguez, CA.

About ChroMedX Corp.

ChroMedX Corp. is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing. The devices are protected by the Company’s issued US and pending international patents, dealing with blood collection, analysis and plasma/serum processing.

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Investor Enquiries:

W. Clark Kent
Corporate Development
647-519-2646
ckent@chromedx.com

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Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com