March 17, 2011
Cap-Ex Ventures Ltd. (TSX-V: CEV) ("Cap-Ex" or the "Company") is pleased to announce Brett Matich has been appointed President and CEO of the Company. Mr. Matich joined the board of directors on January 19, 2011.
Mr Matich has over twenty years experience in the mining industry, most recently the Managing Director of Australian Stock Exchange ("ASX") listed and London Stock Exchange ("AIM") listed Aztec Resources Ltd. ("Aztec"). As Managing Director of Aztec, he identified and took control of a dormant iron ore mine on a remote island in Western Australia. The Aztec mine currently exports approximately 3 million tonnes of iron ore per annum and is owned by ASX listed Mount Gibson Iron Ltd. as a result of Aztec's takeover in 2007. As inaugural Managing Director of ASX listed Fox Resources Ltd. in 2002, Mr. Matich identified a closed Australian nickel mine and successfully returned it to production by 2004.
The Company also reports that it has, subject to regulatory approval, retained the services of Brisco Capital LLP ("Brisco") to provide investor relations services. Brisco will initiate and maintain contact with the financial community, shareholders, investors and other stakeholders for the purpose of increasing awareness of the Company and its activities. Brisco takes a full service approach to investor relations and provides creative, effective results-driven investor relations programs for Canadian public companies.
Andrew Bowering, Chairman stated, "We are looking forward to working with Brisco to actively engage the investment community, in order that our company and its inherent value might be best communicated and fully appreciated."
The agreement with Brisco is effective immediately, and covers an initial term of twelve months but may be terminated by either party at any time. Brisco will be paid a monthly fee of $6,000, and granted an option to purchase 200,000 common shares of the Company at a price of $1.17 per common share, exercisable for a period of five (5) years.
Effective immediately, Andrew Bowering, former President and CEO has been appointed as Chairman of the Company.
In addition, the Company announces it has received TSX approval for the acquisition of the Redmond Properties, as described in the Company's news release of February 23, 2011.
About Cap-Ex Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian resource company focused on exploration and development of iron ore projects in the Labrador Trough near Schefferville, Quebec. The Company's Schefferville Properties cover an area of 21,975 hectares and are strategically located close to Iron Ore Processing Plants. Block 103 is on strike to New Millennium's direct shipping ore ("DSO") deposits and KeMag magnetite deposits both to the north and New Millennium/Labrador Iron Mines DSO deposits to the south. In 2008, an airborne magnetic survey identified the most intense magnetic response in the iron belt within Cap-Ex's Block 103 property.
"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.