March 29, 2011

Cap-Ex Ventures Ltd. (TSX-V: CEV) ("Cap-Ex" or the "Company") has commissioned Fugro Airborne Surveys Corp. ("Fugro") to conduct an airborne FALCON Gravity Gradiometer survey over 17,875 hectares of Schefferville land holdings.

This survey is due to commence in April 2011 and will be flown over Block 103, Block 44 and the Redmond properties to target additional Direct Shipping Ore ("DSO") prior to the commencement of drilling in June 2011.

This detailed survey will be flown on line spacing of 200 metres and at a terrain clearance of 100 metres covering 3,382 line kilometres. Cap-Ex expects the survey will delineate additional DSO drill targets.

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 technology has enormous applicability and provides our clients with unique advantages in the search for water, minerals and hydrocarbons. This advantage is backed by Fugro's exclusivity on the best AGG technology coupled with our unique value-added processing and interpretation capabilities.

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

The Highest Resolution AGG: FALCON simultaneously provides the highest sensitivity to gravity, the best spatial resolution, and the best rejection of the effects of aircraft motion.

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.

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 Holdings Limited 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.

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."