News Release

FOR RELEASE: July 22, 2004, 8:00 A.M. Eastern Standard Time

CONTACT:
John T. Day, President/CEO
Dennis P. Gauger, CFO
Nevada Chemicals, Inc.
801-984-0228

Nevada Chemicals, Inc. Announces Second Quarter 2004 Earnings

SALT LAKE CITY: UTAH - John T. Day, President and Chief Executive Officer of Nevada Chemicals, Inc. (NASDAQ/NMS:NCEM), today announced earnings for the second quarter ended June 30, 2004. The Company reported net income of $620,000 or $0.09 per share compared to net income of $260,000 or $0.04 per share in the second quarter of 2003, a 138% increase in earnings. For the first six months ended June 30, 2004, the Company had net income of $1,165,000 or $0.17 per share compared to net income of $579,000 or $0.08 per share for the six months ended June 30, 2003, an increase in earnings of 101%. Day also indicated that the Company’s quarterly report on Form 10Q was filed with the SEC today.

Cyanco, a joint venture of Winnemucca Chemicals, Inc., a wholly-owned subsidiary of Nevada Chemicals, engaged in the manufacture and sale of liquid sodium cyanide, has seen fluctuations this year in the price of various raw materials required for production although the price ranges appear to have stabilized at higher values. Higher cost for natural gas impacts ammonia, caustic soda and electricity. Day commented that it appears that the continued strength of the gold price is beginning to yield greater mining activity and hence greater demand for cyanide. The Company’s revenues are primarily comprised of management fees from and equity in earnings of Cyanco.

Nevada Chemicals continues to have a strengthening balance sheet with no long term debt and with cash, cash equivalents and short-term investments in excess of $1.80 per share. On July 8, 2004, Nevada Chemicals paid a quarterly dividend of $0.06 per share to all shareholders of record on June 25, 2004.

The Company’s board of directors continues to review strategies for the future of Nevada Chemicals.

Note: The foregoing contains “forward-looking” statements that are pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Editors and investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the Company’s business prospects and performance. These include, but are not limited to, economic, competitive, governmental, technological and other factors discussed in the Company’s reports to shareholders and periodic filings with the Securities and Exchange Commission.