CEV

Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:X0V) ("Cap-Ex" or
the "Company") is pleased to announce that it has entered into a management
services agreement (the "Agreement") with Forbes & Manhattan, Inc. ("F&M"). F&M
has had great success with Consolidated Thompson Iron Mines Limited developing
the Bloom Lake project from grass roots exploration to production. The Bloom
Lake project is located in the Labrador iron trough in Northern Quebec and
Labrador, Canada, which is the location of Cap-Ex's flagship properties.


The Company will become a member of the Forbes & Manhattan Group of Companies
and receive all of the benefits of such membership, including access to a world
class team of geologists and mining engineers, engineering and capital markets
advice from Stan Bharti and other Forbes & Manhattan capital market
professionals and strategic advice from the Forbes & Manhattan Board of
Advisors. 


The Company is also pleased to announce that Francois Laurin has agreed to
become the President, Chief Executive Officer and a member of the Board of
Directors of the Company. In addition, Brian Penney has agreed to join the Board
of Directors and serve as the Chairman of the Operations Committee of the Board.
The appointments of Francois Laurin and Brian Penney are to be effective upon
closing of the first tranche of the Company's private placement announced in the
Company's press releases of December 2, 2011 and December 5, 2011. Closing of
the first tranche is expected this week. 


Francois Laurin was the Chief Financial Officer of Consolidated Thompson Iron
Mines Ltd., which was acquired by Cliffs Natural Resources earlier this year for
$4.9 billion. Mr. Laurin also has extensive experience in the transportation,
telecommunication, media and private equity industries. He is currently a member
of the board of directors of several non-profit organizations and has been a
director and member of board committees of both public and private companies.
Mr. Laurin is a Chartered Accountant and a Chartered Financial Analyst, and
holds a graduate diploma in Public Accountancy and a Bachelor of Commerce degree
from McGill University. 


Brian Penney brings significant iron ore experience to the Company, having
worked for the Iron Ore Company of Canada ("IOC"), a Rio Tinto subsidiary, for
more than 15 years. During his tenure with IOC, Mr. Penney held many senior
roles including: General Manager of all Processing Facilities, General Manager
of Mining Operations and General Manager of Integrated Planning. In addition,
Mr. Penney currently serves as the President and Chief Executive Officer of
Ridgemont Iron Ore Corp. He is a professional engineer, graduating from
Technical University of Nova Scotia with a degree in Metallurgy. 


To facilitate these appointments, Brett Matich will resign as the President and
Chief Executive Officer of the Company. Brett Matich will remain on the Board of
Directors. Chris Farber and Edward Kruchkowski will resign from the Board. 


The Company wishes to express its sincere gratitude to Messrs Matich, Farber and
Kruchkowski who have contributed greatly to the Company and its successful 2011.


The Agreement further provides that, in the event that the Company meets its
operational plans for 2012 (to be determined by an Operations Committee of the
Board) F&M will search for and nominate another person to the Board of
Directors.


Finally, in the event that the Company completes (after 2012 exploration) an NI
43-101 compliant report on its Block 103 property, F&M will search for and
nominate another person to the Board of Directors. 


Andrew Bowering, the Chairman of Cap-Ex, stated, "On behalf of the Board of
Directors, I would like to welcome Francois Laurin, Brian Penney and Forbes &
Manhattan to the Cap-Ex team. We believe that these appointments provide
technical expertise and strategic knowledge to the Company that can only be
obtained through past successes in the Labrador Trough. We would also like to
thank Chris Farber and Edward Kruchkowski for their dedication and hard work
during the transformation of the Company into one of the leading iron ore
exploration companies in Canada."


The transactions disclosed herein may be subject to regulatory approval
including Exchange approval.


CAP-EX VENTURES LTD.  

Andrew Bowering, Chairman 

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 regarding the impact of the
appointments on the Company, the timing and cost of future exploration
activities and timing for closing of the financing. 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, including but not limited to: general business, economic,
competitive, political and social uncertainties; the actual results of current
exploration activities; delay or failure to receive board or regulatory
approvals; conclusions of economic evaluations; changes in project parameters as
plans continue to be refined; future prices of mineral prices; failure of plant,
equipment or processes to operate as anticipated; accidents, labour disputes and
shortages and other risks of the mining industry; and, delays in obtaining
governmental approvals or required financing or in the completion of activities.
Although the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. 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.

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