May 12, 2011

Cap-Ex Ventures Ltd. (TSX-V: CEV) ("Cap-Ex" or the "Company") is pleased to announce that Fugro Airborne Surveys Corp. ("Fugro") has now commenced the airborne FALCON Gravity Gradiometer survey over 27,700 hectares of Schefferville land holdings.

This detailed survey will be flown over the entire landholdings of Block 103 and the Redmond properties, on line spacing of 200 metres and at a terrain clearance of 100 metres, covering 3,382 line kilometres.

The Company expects the survey will take approximately two weeks to complete and that it will delineate additional Direct Shipping Ore ("DSO") drill targets planned to be drilled in June 2011.

About Fugro Airborne Surveys Corp.

Fugro Airborne Surveys is an international airborne geophysical survey company providing industry leading technology offered with Fugro standards of project, quality and safety management.

FALCON is the world's first airborne gravity gradiometer (AGG) and is the only operating AGG technology developed specifically for airborne purposes. It measures minute changes in the earth's gravity to high accuracy and high spatial resolution using both helicopter and fixed-wing platforms.

FALCON has flown over 1.5 million survey kilometres in 244 surveys over 17 countries.

Ed Kruchkowski, P.Geo., a qualified person pursuant to National Instrument 43-101 and director of the Company, has reviewed and approved of the contents of this news release.

For additional information please visit the Company's website at You may also email This email address is being protected from spambots. You need JavaScript enabled to view it. or call investor relations at 604-669-2279.


"Brett Matich"

Brett Matich,
President and CEO

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

"This news release may contain forward--looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."