Cap-Ex Announces 7.2 Billion Tonne Inferred Iron Resource

Cap-Ex Announces 7.2 Billion Tonne Inferred Iron Resource 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/04/13 -- Cap-Ex
or the "Company") is pleased to announce the results of the initial
independent National Instrument (NI) 43-101 Mineral Resource estimate
on its wholly-owned Block 103 Property in Labrador, northeast of
Schefferville. Watts, Griffis and McOuat Limited ("WGM"), Consulting
Geologists and Engineers of Toronto, Ontario, estimated an Inferred
resource of 7.2 billion tonnes at 29.2% total iron (18.9% magnetic
iron). This resource estimate is based on a cut-off grade of 12.5%
magnetic iron (magFe%). 
"We are extremely excited with this initial resource estimate on a
portion of Block 103 as we far exceeded our publically stated goals
for this first resource," says Francois Laurin, President and CEO of
Cap-Ex. "We have clearly demonstrated the long term potential of the
project and look forward to continuing to develop it by releasing our
Preliminary Economic Assessment later this quarter." 
This Inferred resource covers an area with a strike length of
approximately 4 kilometers (km) and a width of 2.5km. Based on the
Magnetic Airborne survey previously completed, the Block 103 Property
covers a strike length of approximately 12km. Mineralized zones are
open towards the northwest and southeast and to depth. 
Resource Estimate Details 
The Mineral Resource estimate for the Block 103 Property is based on
results from 81 diamond drillholes totaling 23,735 meters and is
effective as of February 4, 2013. Mr. Michael Kociumbas, P.Geo., and
Mr. Rick Risto, P.Geo., both with independent firm WGM, are Qualified
Persons as defined by NI 43-101. WGM has visited the site, collected
independent core samples and reviewed the QA/QC data received to
date. Mr. Risto has reviewed and approved the underlying sampling,
analytical and test data used for the estimate and Mr. Kociumbas is
responsible for auditing the in-house Mineral Resource estimate as
supplied by Cap-Ex and has approved the technical data contained in
this news release. WGM is satisfied that the exploration and
analytical programs carried out to-date by Cap-Ex follows Industry
Best Practice Guidelines and that the database is appropriate for
Mineral Resource estimation purposes. WGM is of the opinion that the
iron mineralization delineated on the property will be amenable to
open pit mining. The estimate is classified as an Inferred Mineral
Resource, consistent with the CIM definitions referred to in NI
This NI 43-101 compliant estimate will be filed in a Technical Report
on SEDAR within 45 days of this news release. Mineral resources,
which are not mineral reserves, do not have demonstrated economic
viability. Cap-Ex is not aware of any environmental, permitting,
legal, title, taxation, socio-political, marketing or other issues
which may materially affect its estimate of Mineral Resources. 
The geological and Mineral Resource modelling parameters consisted

--  3-D wireframes created from the drillhole intersections on a cross
    sectional interpretation combining assay intervals and major
    lithological units. 
--  A block model procedure (block sizes of 30 m x 100 m x 10 m) was used
    with grades interpolated utilizing an Inverse Distance estimation
    technique (ID2); Total Iron (TFe%) and Iron in magnetite (magFe%) were
--  A density model was created based on a best fit regression line from
    selected pycnometer data measurements based on TFe% grade, therefore
    each block in the block model has a unique specific gravity. 
--  Inferred Mineral Resources are estimated for blocks with a maximum of
    600 m along strike and a maximum of 400 m on the ends/edges and at depth
    when supporting information from adjacent cross sections was available. 
--  A cut-off grade of 12.5% magFe was used for the purpose of reporting
    this initial resource estimate. This cut-off grade was chosen based on
    comparison with other similar taconite deposits in the Labrador Trough. 

Complete assay results are posted on the Cap-Ex website at: http://ww 
Location maps and cross sections are posted on the Cap-Ex website at:  
Split drill core samples were sent to independent contractors Acme
Analytical Laboratories in Vancouver, BC and SGS Mineral Services in
Lakefield, Ontario for analyses. Total iron analysis was performed
using X-ray fluorescence (XRF) and the magnetic component was
determined by Satmagan magnetic analysis and Davis Tube analysis on
selected samples. Standards, blanks, and duplicate assays were
included at regular intervals in each sample batch submitted from the
field as part of an ongoing Quality Assurance/Quality Control
Cap-Ex's exploration work on the Block 103 Property is supervised by
Edward Lyons, P.Geo., a consultant to the Company and a Qualified
Person as defined by NI 43-101. Mr. Lyons has verified that the
results used for the resource estimate were accurate from the
official assay certificates provided to Cap-Ex. 
About CAP-EX Ventures Ltd. 
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the
development of its Block 103 Iron Ore Property 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  
On behalf of the Board  
Francois Laurin, President and CEO 
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. 
Cautionary Note Concerning Reserve and Resource Estimates 
This press release uses the terms "reserves", "resources", "proven
reserves", "probable reserves", "measured resources", "indicated
resources" and "inferred resources". United States investors are
advised that, while such terms are recognized and required by
Canadian securities laws, the United States Securities and Exchange
Commission (the "SEC") does not recognize them. Under United States
standards, mineralization may not be classified as a "reserve" unless
the determination has been made that the mineralization could be
economically and legally produced or extracted at the time the
reserve determination is made. Mineral resources that are not mineral
reserves do not have demonstrated economic viability. United States
investors are cautioned not to assume that all or any part of
measured or indicated resources will ever be converted into reserves.
Inferred Resources are in addition to Measured and Indicated
Resources. Further, inferred resources have a great amount of
uncertainty as to their existence and as to whether they can be mined
legally or economically. It cannot be assumed that all or any part of
the inferred resources will ever be upgraded to a higher category.
Therefore, United States investors are also cautioned not to assume
that all or any part of the inferred resources exist, or that they
can be mined legally or economically. Disclosure of "contained
ounces" is permitted disclosure under Canadian regulations, however,
the SEC normally only permits issuers to report "resources" as in
place tonnage and grade without reference to unit measures.
Accordingly, information concerning descriptions of mineralization
and resources contained in this release may not be comparable to
information made public by United States companies subject to the
reporting and disclosure requirements of the SEC. 
National Instrument 43-101 Standards of Disclosure for Mineral
Projects ("NI 43-101") is a rule developed by the Canadian Securities
Administrators, which established standards for all public disclosure
an issuer makes of scientific and technical information concerning
mineral projects. Unless otherwise indicated, all reserve and
resource estimates referred to in this press release or released by
the Company in the future have been or will be prepared in accordance
with NI 43-101 and the Canadian Institute of Mining, Metallurgy and
Petroleum Classification System. The requirements of NI 43-101 are
not the same as those of the SEC and any reserves reported by the
Company in compliance with NI 43-101 may not qualify as reserves
under the SEC's standards. 
Cap-Ex Ventures Ltd.
Konstantine Tsakumis
Investor Relations
1-866-683-8030 ext. 232
Press spacebar to pause and continue. Press esc to stop.