Mr. Brett Matich reports

CAP-EX ANNOUNCES NEW PRESIDENT AND CEO

Cap-Ex Iron Ore Ltd. has made changes to its senior officers effective May 31, 2013.

Graham Harris has been appointed chief executive officer of the company. Mr. Harris is one of the founding directors of Cap-Ex.

Brett Matich has been reappointed president of the company. Mr. Matich joined the board in 2011. As president and CEO during 2011, Mr. Matich directed the exploration and drilling programs on the Block 103 iron ore property, which led to the discovery of the Greenbush and the Northwest zones.

Francois Laurin has resigned as president and CEO but remains a director of the company. From his appointment as president and CEO in December, 2011, until May 31, 2013, the company significantly advanced its properties in Newfoundland and Labrador and prepared an initial resource estimate on its Block 103 iron ore property.

As disclosed in its news release of Feb. 4, 2013, Block 103 contains an initial NI 43-101-compliant inferred resource of 7.2 billion tonnes, grading 29.2 per cent total iron (18.9 magnetic iron). A preliminary economic assessment is expected to be released in June, 2013.

The changes to the company's senior officers are a part of the company's plan to move head office operations back to Vancouver as discussed in the company's news release of May 2, 2013.

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