Mr. Francois Laurin reports

CAP-EX CLOSES NON-BROKERED PRIVATE PLACEMENT OF $2,073,000

Cap-Ex Iron Ore Ltd. has closed a private placement of 20.73 million units at a price of 10 cents per unit for proceeds of $2,073,000. Each unit is composed of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at an exercise price of 20 cents for a period of 24 months from the date of issue.

The holders of the shares and any warrant shares issued may not engage in the sale of shares or warrant shares until Sept. 25, 2013.

The warrants contain certain accelerated exercise clauses. At any time after four months and one day from the date of the closing of the offering, if the volume-weighted average trading price of the common shares of the company on the TSX Venture Exchange is greater than 50 cents per share for 20 consecutive trading days, the company may give written notice to warrantholders that the warrants will expire 30 calendar days after the date of such notice.

The offering was first announced on March 22, 2013, and the terms of the offering were later amended on April 15, 2013.

The company intends to use the net proceeds of the offering to continue to advance its Block 103 project with a 2013 drilling program, to seek a partner and to apply toward general working capital purposes.

No bonuses, finders' fees or commissions were paid by the company in connection with the offering.

Insiders of the company participated in 45 per cent of the offering for a total of $940,000.

We seek Safe Harbor.