Cap-Ex Receives Approval for 2012 Exploration Program for Its Block 103 Property

Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(FRANKFURT:X0V)(OTCQX:CPXVF) ("Cap-Ex" or
the "Company") is pleased to announce that the Newfoundland and Labrador
Department of Natural Resources (Mineral Lands Division) has granted approval
for the Company's 2012 Application for Exploration Approval and Notice of
Planned Mineral Exploration Work for the Block 103 Property in Newfoundland and
Labrador, approximately 30 km northwest of Schefferville, Quebec. 


Based on the exploration work completed to date-including over 6,000 metres of
drilling in 2011-the Company has revealed two primary zones of magnetite
mineralization on its wholly owned Block 103 Property: the Northwest Zone and
the Greenbush Zone (refer to "Block 103 Map" in Figure 1). Both zones exhibited
excellent drilling and assay results and have high potential to identify
additional mineralization as several holes terminated in mineralization and, in
most holes, mineralization started near surface and was open in all directions.
Now with the required permits in place, the Company can continue explorations
efforts at these important zones. 


The 2012 exploration program has been designed to include a minimum of 15,000
metres of diamond drilling and additional surface sampling primarily focused on
the continued investigation and definition of mineralization in the Greenbush
Zone. Drilling is expected to commence by the end of April and will be completed
using four diamond drills over an estimated four month period. 


The results of the 2012 program will be used to support a NI 43-101-compliant
resource estimate currently planned to be released by the end of December 2012,
and a preliminary economic assessment, planned to be released by March 2013. 


Mr. Francois Laurin, President and CEO of Cap-Ex, stated: "Receipt of these
permits is both an important and last milestone required for us to start our
aggressive 2012 exploration program. The crews and equipment are ready to begin
the drill program, as the company previously announced this year. We are
confident that the Company will execute on our 2012 Plan in time for our 43-101
compliant maiden mineral resource reports." 


QUALIFIED PERSON

The samples from drilling were processed and assayed by SGS Canada Lab based in
Lakefield, ON. The samples were assayed using XRF, Satmagan and Davis tube
techniques. 


Alex Walus, P.Geo., an employee of the Company and a qualified person pursuant
to National Instrument 43-101, has reviewed and approved the technical and
scientific information in this news release.


ABOUT CAP-EX VENTURES LTD.

Cap-Ex Ventures Ltd. is a TSX Venture Exchange-listed company focused on the
development of its Block 103 iron ore property in the Labrador trough, near the
mining town of Schefferville, Quebec. The Block 103 property is strategically
located close to existing railway to shipping port, and is adjacent to New
Millennium Iron Corp's LabMag and KeMag deposits and the New Millenium-Tata
oxide deposits to the east.


For additional information about Cap-Ex visit the company website at www.cap-ex.ca. 

CAP-EX VENTURES LTD. 

Francois Laurin, President and CEO

Cautionary Note Regarding Forward-looking Information 

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements with respect to future exploration
plans. Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information. There can be no
assurance that such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
information. The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.


To view Figure 1 "Block 103 Map," please visit the following link:
http://media3.marketwire.com/docs/capex_block103.pdf
Cap-Ex Iron Ore Ltd. (TSXV:CEV)
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