Cap-Ex and ITUM enter into Definitive Exploration Agreement

Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(FRANKFURT:X0V)(OTCQX:CPXVF) ("Cap-Ex" or
the "Company") is pleased to announce that it has entered in a definitive
exploration agreement (the "Exploration Agreement") with Innu Takuaikan Uashat
Mak Mani-Utenam ("ITUM"), which replaces the Letter Agreement between the
Company and ITUM dated November 30, 2011 (see the news release issued by the
Company on December 1, 2011). 


Pursuant to the terms of the Exploration Agreement, the Company will issue
300,000 common shares to ITUM upon receiving final approval of the Exploration
Agreement from the TSX Venture Exchange. In addition, the Company has agreed to
make annual payments to ITUM conditional upon the Company completing certain
levels of exploration activities on its properties during the previous year. 


The Company has also agreed to work with ITUM to monitor environmental and other
impacts of the Company's exploration activities and will make an annual payment
to ITUM to finance such monitoring by ITUM. 


In consideration for the benefits received by ITUM under the Exploration
Agreement, ITUM has given its consent to the Company's exploration activities on
its properties. 


The Exploration Agreement is to be for the duration of the Company's exploration
activities in the future. 


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 is 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.


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.


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 potential to
identify additional mineralization 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.

Cap-Ex Iron Ore Ltd. (TSXV:CEV)
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