Mr. Francois Laurin reports

CAP-EX DRILL RESULTS INDICATE INCREASE IN AVERAGE THICKNESS OF "GREENBUSH ZONE"

Cap-Ex Ventures Ltd. has released four additional assay results from the 2011 diamond drilling on its wholly owned Block 103 iron property, which is located 30 kilometres northwest of the mining town of Schefferville, Que.

The four new drill assay results are located on the east limb of the Greenbush zone:

• DDH103-3 interval: 204.2 metres at 30.9 per cent total iron from 5.2 metres (open at depth);
• DDH103-18 interval: 194.2 metres at 29.9 per cent total iron from three metres (open at depth);
• DDH103-20 interval: 128.0 metres at 30.3 per cent total iron from 17.4 metres (open at depth);
• DDH103-34 interval: 152.4 metres at 30.1 per cent total iron from 29.6 metres (open at depth);
• Please refer to the attached table for all the new results.

Spread over a strike length in excess of six kilometres, it is important to note that all four drill holes ended in mineralization and, consequently, the mineralization is open at depth. The drilling depth will be extended in the 2012 season to delineate the increase in average thickness of the magnetite mineralization (refer to the Greenbush zone drill hole map on the Cap-Ex website).

The company expects to soon receive additional 2011 drill assay results from Block 103's Greenbush zone and Northwest zone.

Based on the currently available 2011 drill results and airborne geophysical programs, the company has made the following interpretations regarding the Greenbush zone:

• The Greenbush zone hosts strong magnetite mineralization that has been identified to cover an area of at least 20 square kilometres. This zone features strong, coincident magnetic and gravimetric airborne anomalies which show remarkable reliability as drilling targets. All 26 drill holes have encountered significant mineralization from 45 to 265 metres in thickness.
• The average length of the core intercepts of magnetite mineralization encountered in the 26 holes drilled in the Greenbush zone is 122 metres. This number is based on assays from 21 holes and the visual estimation of magnetite content in the remaining holes.
• The average grade of the mineralization is 30.5 per cent total iron and the Davis tube concentrate grades average 68.2 per cent iron and 4.7 per cent silica.
• The company is using a specific gravity of 3.3, which is the same used for the surrounding magnetite deposits.
• In most holes, mineralization starts near the surface and is open in all directions.

Cap-Ex president and chief executive officer, Francois Laurin, commented: "We are very pleased with these new assay results of the Greenbush zone; they continue to show strength in the mineralization and its average grade. These results reinforce our decision to pursue an aggressive 2012 exploration drilling program in the Block 103 iron property."

       GREENBUSH ZONE -- TABLE WITH ASSAYS AND CORE INTERCEPTS                                       

Hole             From        To   Core interval     Total Fe  Mineralization
No.                (m)       (m)             (m)          (%)               

DDH103-3          5.2     209.4           204.2         30.9   Open at depth 
DDH103-18         3.0     197.2           194.2         29.9   Open at depth 
DDH103-20        17.4     145.4           128.0         30.3   Open at depth 
DDH103-34        29.6     182.0           152.4         30.1   Open at depth 

Note: The true widths of the reported core intervals are estimated to 
      be between 90 and 100 per cent of these intervals.

Quality assurance/quality control

The samples from drilling were processed and assayed by SGS Canada's laboratory based in Lakefield, Ont. The samples were assayed using XRF, Satmagan and Davis tube techniques.

Alex Walus, PGeo, an employee of the corporation and a qualified person pursuant to National Instrument 43-101, has reviewed and approved the technical and scientific information in this news release.

We seek Safe Harbor.