Cap-Ex Intersects 291 Metres of 29% Iron

Cap-Ex Ventures Ltd (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:XOV) ("Cap-Ex" or
the "Company") is pleased to announce that it has received the third set of
assay results from its on-going drill program within the Greenbush Zone, located
on its wholly-owned Block 103 Property in western Labrador. All eight holes
drilled to date on this third, approximately 1,700 metre long drill line
(Section 8800N), intersected iron mineralization. Intervals ranged up to 291
metres in thickness with total iron content ranging from 27.7% to 30.7%. Five of
the eight holes ended in iron mineralization. This third drill line trends
northeast/southwest and is located parallel to and 600 metres south of the
second drill line (Section 9400N). Assay results for the first and second drill
lines were released in news releases dated August 13, 2012 and September 12,
2012 respectively.


Highlights of assay results from the third drill line include:



------------------------------------------------------------------
Hole                      From          To      Length    Total Fe
Number                     (m)         (m)         (m)         (%)
------------------------------------------------------------------
DDH103-060                 8.5       292.0       283.5        28.7
------------------------------------------------------------------
DDH103-061(i)             45.1       188.4       143.3        29.3
------------------------------------------------------------------
and                      237.1       310.3        73.2        29.8
------------------------------------------------------------------
DDH103-062(i)              1.5       100.8        99.3        28.9
------------------------------------------------------------------
and                      124.4       212.8        88.4        29.7
------------------------------------------------------------------
and                      289.0       320.7        31.7        28.7
------------------------------------------------------------------
DDH103-086(i)              1.5       292.3       290.8        29.2
------------------------------------------------------------------
DDH103-087                 3.1       103.3       100.3        28.1
------------------------------------------------------------------
and                      128.2       200.9        72.7        30.3
------------------------------------------------------------------
and                      246.6       309.2        62.6        28.3
------------------------------------------------------------------
DDH103-134               118.1       242.3       124.2        28.4
------------------------------------------------------------------
and                      272.8       300.2        27.4        30.7
------------------------------------------------------------------
DDH103-135(i)              5.2       134.2       129.0        29.6
------------------------------------------------------------------
and                      145.0       337.4       192.4        27.7
------------------------------------------------------------------
DDH103-136(i)             48.2       197.5       149.4        27.9
------------------------------------------------------------------
and                      218.3       267.6        49.3        29.6
------------------------------------------------------------------
and                      304.2       343.8        39.6        30.5
------------------------------------------------------------------
 (i) ended in iron mineralization                                           



Location maps and a cross section are posted on the Cap-Ex website at:
http://www.cap-ex.ca/projects/block-103.


"We are very pleased with this third set of assay results, as they continue to
demonstrate substantial thickness and consistent grade as the drill program
progresses to the south and north, expanding the zone of mineralization," says
Francois Laurin, President and CEO of Cap-Ex. "In addition to the publication of
our initial resource estimate, we plan to complete a Preliminary Economic
Assessment early next year. It is very exciting to see the potential of this
project."


To date, Cap-Ex has completed approximately 21,915 metres of the 22,000 metre
drill program.


True widths of the reported intercepts above vary depending on the angle of the
individual drill holes and are estimated to be between 70% and 100% of the core
interval as reported. All samples were prepared from split BTW-sized half-core
sections on-site in Labrador. Split drill core samples have been sent to
independent contractor Acme Analytical Laboratories in Vancouver, BC for
analyses. Total iron analysis is performed using X-ray fluorescence (XRF) and
the magnetic component is determined by Satmagan magnetic analysis. FeO
titration analysis permits an estimation of hematite. Standards, blanks, and
duplicate assays are included at regular intervals in each sample batch
submitted from the field as part of an ongoing Quality Assurance/Quality Control
program.


Qualified Person

Edward Lyons, P. Geo., a consultant to the Company and a Qualified Person as
defined by NI 43-101, has reviewed and approved the technical information
contained in this news release. Mr. Lyons has verified the data disclosed in
this news release, including sampling, analytical and test data underlying the
information disclosed in this news release. Mr. Lyons has verified that the
results were accurate from the official assay certificates provided to Cap-Ex.


About CAP-EX Ventures Ltd.

Cap-Ex Ventures Ltd. is a Canadian 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
an existing railway, which can provide a direct link to a shipping port, and is
adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and
the New Millennium-Tata oxide deposits to the east.


For additional information please visit the Company's website at www.cap-ex.ca.

CAP-EX VENTURES LTD.

On behalf of the Board

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 development
potential of the Company's Block 103 iron ore property, future exploration plans
and the expected timing for completion of an NI 43-101 mineral resource estimate
and a preliminary economic assessment. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cap-Ex Ventures Ltd.
Konstantine Tsakumis
Investor Relations
1-866-683-8030 ext. 232
info@cap-ex.ca
www.cap-ex.ca
Cap-Ex Iron Ore Ltd. (TSXV:CEV)
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