Cap-Ex Targets Initial Resource of 800 Million to 1 Billion Tonnes Grading Between 29% and 32% Iron at Block 103 With 2012 Dr...

Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(FRANKFURT:X0V)(OTCQX:CPXVF) ("Cap-Ex" or
the "Company") is pleased to announce that the 2012 drilling program has
commenced at its 100% owned Block 103 Property in northwestern Labrador,
approximately 35 km northwest of Schefferville, Quebec. 


The fully-funded, $10 million (CAD) program has been designed to consist of four
rigs drilling a minimum of 15,000 metres and is primarily focused on the
continued investigation and definition of mineralization in the Greenbush Zone,
which covers an area of 26 square kilometres (Figure 1) and is part of the
Company's Block 103 property. In particular, the program will focus on the
central portion of this zone, which Cap-Ex expects to host the targeted initial
mineral resource estimate which represents approximately 4 square kilometres or
15% of the Greenbush Zone. 


The current drill program will target an initial resource of approximately 800
million to 1 billion tonnes with an average grade between 29% and 32% iron. The
potential tonnage and grade are conceptual in nature as there has been
insufficient exploration to define a mineral resource and it is uncertain if
further exploration will result in the target being delineated as a mineral
resource. These figures are reported as exploration targets based on the
presence of mineralized drill holes, mineralized zones which are open in most
directions, and geophysical anomalies from data received by Cap-Ex. The program
will also focus on outlining the continuation of 259 metres of folded
mineralization encountered in 2011 drill hole DDH103-44. 


PROGRAM DETAILS

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


The results of the 2012 program will be used to support a National Instrument
43-101-compliant resource estimate on a portion of the Block 103 Property
currently planned to be released by the end of 2012, and a preliminary economic
assessment, planned to be released by the end of March, 2013.


Mr. Francois Laurin, President and CEO of Cap-Ex, stated: "Initiation of the
2012 exploration program is another major milestone achieved towards the
publication of our initial mineral resource estimate by the end of 2012. We have
the capacity, technical and financial resources to complete the drilling program
required and we will soon move towards the engineering work required for the
preliminary economic assessment analysis."


QUALIFIED PERSON

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. 


Through its exploration efforts Cap-Ex has revealed two primary zones of
magnetite mineralization on its wholly owned Block 103 Property: the Northwest
Zone and the Greenbush Zone. 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


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 Ventures visit the company website at
www.cap-ex.ca. Follow us on Facebook (Search Cap-Ex Ventures) or Twitter
@CapExVentures.


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 the Company's
planned work programs and 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, please visit the following link:
http://media3.marketwire.com/docs/cpxvf0507fig1.pdf.
Cap-Ex Iron Ore Ltd. (TSXV:CEV)
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