June 15, 2011
Cap-Ex Ventures Ltd. (TSX-V: CEV) ("Cap-Ex" or the "Company") is pleased to announce it has received and interpreted the preliminary data from the recently completed Airborne FALCON Gravity Gradiometer and High Sensitivity Magnetometer survey, conducted by Fugro Airborne Surveys Corp, over the Company's wholly owned Block 103 and Redmond properties in the Labrador Trough near Schefferville, Quebec.
Geophysical Consultant, Jean Hubert, has completed interpretation of the preliminary data, which has identified at least thirty-one hematite, Direct Shipping Ore ("DSO") priority targets for on ground investigation.
Images of residual gravity and the first vertical derivative magnetic were used to select these priority targets, applying the following criteria:
- All targets fall within the Sokoman Formation
- Targets interpreted to be located in synclines are given higher priority
- Targets that occupy fault positions that may increase mineralised thickness were prioritized
- Areas of elevated gravity but low magnetic response indicate DSO targets
- Coincident magnetite and gravity highs reflect magnetite targets
Sixteen DSO targets and seven magnetite targets were identified on Block 103.
Fifteen DSO targets were identified on Redmond with gravity anomalies with no magnetic or low magnetic anomalies and are located along a thrust fault or are crossed by transverse faults.
Cap-Ex is currently on site mapping and delineating all targets in preparation for commencement of this year's drilling campaign.
Edward 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.
The Company is also pleased to report that Cap-Ex Ventures Ltd. has begun trading on the OTC market's OTCQX International tier under the symbol: CPXVF.
CAP-EX VENTURES LTD.
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."