June 6, 2012
Cap-Ex Ventures Ltd (TSX-V: CEV) ("Cap-Ex" or the "Company") is pleased to announce the appointment of BBA Inc. ("BBA") to conduct a Preliminary Economic Analysis (PEA) on the Block 103 Iron Ore Project in northern Labrador. BBA will also follow up on 2011's encouraging metallurgy results on the Redmond Project by launching an intensive sampling and bench scale testwork program.
"BBA has extensive work experience in the Labrador iron ore mines and we are extremely fortunate to be able to bring them in at such an early stage in the development of the Block 103 Project," says Francois Laurin, President and CEO of Cap-Ex. "Their significant iron ore experience and expertise will help ensure thorough yet rapid completion of the PEA which is a key step in moving Block 103 towards production."
BBA is an independent Canadian consulting engineering firm operating internationally. It offers advanced engineering expertise with a focus on the energy and mining and metals sectors. BBA has developed a niche within the engineering consulting space through its unique delivery of integrated services, including consulting services to executives, technical expertise in operations and commissioning, backed by a team of highly-qualified experts in several engineering disciplines.
With an office in Labrador City, BBA has extensive experience in the iron ore industry, specifically within Block 103's setting in the Labrador Trough, having acted as the primary engineering consulting firm for Consolidated Thompson's (now Cliffs Natural Resources) Bloom Lake Mine, ArcelorMittal's Mont-Wright concentrator and Alderon Iron Ore's Kami Project. The depth of local iron ore experience will allow BBA to expedite engineering design work, provide an experienced outlook into project costs and timelines, assist in selection of local construction firms, all of which will aid in minimizing overall project risk.
In addition to the work on the Block 103 Project, BBA will also design and supervise appropriate metallurgical testwork with an aim of fast tracking the Redmond Project. The Redmond Project is located 10 kilometres south of Schefferville and covers approximately 6.5 kilometres of strike length of historical iron ore occurrences all on strike of the past producing Redmond DSO (direct shipping ores) iron ore deposits.
For additional information on the Block 103 and Redmond Projects, including location maps and work programs, please visit http://www.cap-ex.ca/s/block_103.asp and http://www.cap-ex.ca/s/redmond.asp respectively.
ABOUT CAP-EX VENTURES LTD.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 iron ore Project in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp's LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company's website at www.cap-ex.ca.
ON BEHALF OF THE CAP-EX BOARD
President and CEO
For Investor Relations, please call or email:
1-866-683-8030 ext. 232
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company's Block 103 iron ore property, future exploration plans and budgets and permitting. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER 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.