News

August 13, 2012

Cap-Ex Ventures Ltd (TSX-V: CEV) (Frankfurt: X0V) (OTCQX: CPXVF) (“Cap-Ex” or the “Company”) is pleased to announce the first set of assay results from its on-going drill program within the Greenbush Zone, located on its wholly-owned Block 103 property in western Labrador.  Twelve holes intersected intervals ranging from 64.0 to 216.4 metres of 26.7% to 30.2% total iron all on a single, 2,050 metre long drill line (A – A’).  Three of these holes were terminated within mineralized zones, including drill hole DDH103-81 which was drilled to a depth of 354 meters.  The program, which began at the end of April, has focused on the Greenbush Zone with the goal of outlining an initial National Instrument (NI) 43-101 mineral resource estimate by the end of 2012.

Location maps and a cross section are posted on the Cap-Ex website at: http://www.cap-ex.ca/projects/block-103 .

Highlights of assay results from the first drill line include:

  * hole terminated within mineralization    

“We are extremely pleased with this first set of assay results from the first line of our 2012 drill program as they confirm the grades and thicknesses we identified in our preliminary drilling last year,” stated Francois Laurin, President and CEO of Cap-Ex. “We are also continuing to intersect consistent thicknesses of iron mineralization on our third line, located just over one kilometre southeast of line one, which supports our confidence in the incredible potential of Block 103.”

True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 70% and 100% of the core interval as reported.  All samples were prepared from split BTW-sized half-core sections on-site in Labrador.  Split drill core samples have been sent to independent contractor Acme Analytical Laboratories in Vancouver, BC for analyses. Total iron analysis is performed using X-ray fluorescence (XRF) and the magnetic component is determined by Satmagan magnetic analysis. FeO titration analysis permits an estimation of hematite. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control program.

To date, Cap-Ex has four diamond drill rigs operating on the Block 103 property, which have now completed approximately 14,000 metres of a minimum 15,000 metres of drilling planned for this year.

The results of the current drill program will be used for an initial National Instrument (NI) 43-101 mineral resource estimate on a portion of the Greenbush Zone located within the Block 103 property, planned to be released by the end of 2012. The Company intends to follow the completion of the NI 43-101 mineral resource estimate with a Preliminary Economic Assessment, planned for release in the first quarter of 2013.

About the Block 103 Project

The Block 103 Iron Ore Project is located in western Labrador and covers roughly 20,000 hectares within the Labrador Trough, approximately 30 km northwest of Schefferville Quebec. Two distinct zones of magnetite mineralization, the Greenbush Zone and the Northwest Zone, were identified on the property as a result of a 6,000 metre drilling campaign conducted in 2011. Mineralization was consistently encountered at shallow depths with thicknesses of up to 260 metres. Laboratory analysis of the samples collected during this 2011 program revealed very consistent grades of mineralization ranging from 28.5% to 34.6 % Total Fe. Sample processing and assaying in 2011 was executed by SGS Canada Labs in Lakefield, ON, using XRF, Satmagan and Davis tube techniques.

Qualified Person

Alex Walus, P. Geo., an employee of the Company and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release.

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 an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel 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.  

CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO

For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.cap-ex.ca

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 the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. 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.