Cap-Ex Files Technical Report for Block 103 Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/22/13 -- Cap-Ex
Iron Ore Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:XOV)
("Cap-Ex" or the "Company") is pleased to announce that it has filed
a National Instrument 43-101 Technical Report (the "Report") on SEDAR
at www.sedar.com. The Report is with respect to Cap-Ex's Mineral
Resource Estimate on the Block 103 Iron Ore Project in the Labrador
Trough, the results of which were announced in a February 4th, 2013
news release. There are no material differences between the results
announced in that news release and the results in the Report.
The Block 103 Project hosts an initial NI 43-101 inferred resource
estimate of 7.2 billion tonnes at 29.2% total iron. Preliminary
metallurgical results indicate marketable pellet feed product.
Further details on the resource estimate can be found in the Report.
Edward Lyons, P.Geo., a consultant to the Company and a Qualified
Person as defined by NI 43-101, has reviewed and approved the
technical information contained in this news release.
Cap-Ex 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
CAP-EX IRON ORE LTD.
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-l
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.
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.
Cap-Ex Iron Ore Ltd.
1-866-683-8030 ext. 232
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