| FOR IMMEDIATE RELEASE: April 23, 2002 CONTACT: Nevada Chemicals, Inc. Announces First Quarter 2002 Earnings SALT LAKE CITY: UTAH - John T. Day, President and Chief Executive Officer of Nevada Chemicals, Inc. (NASDAQ/NMS:NCEM), formerly known as Mining Services International Corporation (MSIX), today announced earnings for the first quarter ended March 31, 2002. The company had net income of $208,000 or $0.03 a share compared to a loss of ($400,000) or ($0.05) per share in the first quarter of 2001. On November 15, 2001, Nevada Chemicals sold its explosives business to a U.S. subsidiary of Union Española de Explosivos (UEE). As a result of that sale, the company name was changed as well as the trading symbol (NCEM). The remaining business activities of Nevada Chemicals include a 50% ownership in Cyanco through a wholly owned subsidiary, Winnemucca Chemicals; 50% of a joint venture providing explosives to Ghana and the rental of an office building in Sandy, Utah. On March 14, 2002, Nevada Chemicals and its 50/50 Joint Venture Partner, Degussa Corp, announced that Cyanco had acquired the sodium cyanide distribution business of FMC Corporation along with some distribution assets in Nevada. The transition of the client base to the Cyanco deliveries and products began on April 1, 2002, and has proceeded without any disruption of service. Over the near future the transfer of the assets associated with the purchase should be completed. Nevada Chemicals will
host a conference call to discuss the first quarter results tomorrow (April 24,
2002) at 11:15 a.m. ET, 9:15 a.m. MT. Media representatives, analysts and the
public are invited to listen to this discussion by calling 800-937-6563, access
reference: Nevada Chemicals, 1st Quarter Financial Report. A replay of the call
will be available beginning one hour after the conclusion of the call and will
run through Wednesday, May 1, by dialing 1-800-839-0860 and entering the passcode
1064.
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