April 20, 2011
Cap-Ex Ventures Ltd. (TSX-V: CEV) ("Cap-Ex" or the "Company") is pleased to announce that it has closed its acquisition of two mineral licences from Adriana Resources Inc. (TSX-V: ADI) Under an agreement (the "Adriana Agreement") between the Company and Adriana Resources Inc. ("Adriana") first announced on April 13, 2011, the Company has acquired a 100% right, title and interest in and to Newfoundland / Labrador Mineral Licence Numbers 014855M and 014856M in Labrador (the "Licences"). Consideration for the purchase of the Licences was the issuance to Adriana of 500,000 shares (the "Shares") of the Company and a cash payment to Adriana of $500,000. As a condition of the purchase of the Licences, the Company entered into a royalty agreement with Adriana calling for the Company to pay to Adriana a 1% royalty on any commercial production from the Properties. The Shares are subject to an Exchange hold period expiring on August 19, 2011.
In addition, the Company also announces that it has closed its acquisition of Newfoundland / Labrador Mineral Licence Number 018542M (the "Porky Lake Property"). The Porky Lake Property was acquired from Bedford Resource Partners Inc. ("Bedford") pursuant to an agreement (the "Agreement") dated April 4, 2011. The Agreement was announced in the Company's news release dated April 7, 2011. Consideration for the acquisition of the Porky Lake Property was a cash payment of $10,000 (the "Cash Payment") and the issuance of 15,000 shares (the "Bedford Shares"). In addition, the Company granted a 1.5% royalty on commercial production from the Porky Lake Property. The Bedford Shares are subject to an Exchange hold period expiring on August 14, 2011
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."