Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(FRANKFURT:X0V)(OTCQX:CPXVF) ("Cap-Ex" or
the "Company") is pleased to announce assay results for three holes from the
2011 diamond drilling of the Northwest Zone on its wholly owned Block 103 iron
property, which is located approximately 30 kilometres northwest of the mining
town of Schefferville, Quebec. 


All holes encountered significant iron mineralization as follows:



   -  DDH103-17 interval 148.4 metres at 30.6% total Fe from 48.2 metres    
   -  DDH103-16 interval 118.9 metres at 31.0% total Fe from 29.6 metres    
   -  DDH103-12 interval 91.4 metres at 31.5% total Fe from 4.9 metres      
       (Refer to Table 1 attached, for all the results)                     



The Northwest Zone is located 2 kilometres west of the "Greenbush Zone" and was
diamond drill tested by six holes over 5.3 kilometres of strike, with drill
spacing ranging from 200 to 2,100 metres. All six holes intersected
mineralization with the average total iron grade above 31%. 


The Northwest Zone is striking northwest to southeast, slightly dipping
northeast and wide open to the south where thickness increases from 90.6 to
148.4 metres. The northern strike extension is restricted by Block 103's north
boundary. The presumed width is between 0.5 and 1.5 kilometres contacting
Kivivic Lake to the east and constrained by the western boundary of Block 103.
The mineralization in hole DDH103-17 remains open at depth.


The Northwest Zone is immediately on strike between the LabMag (five kilometres
southeast of Hole 17) and KeMag (nine kilometres northwest of Hole 11) deposits
on the adjacent properties owned by New Millenium Iron Corp. ("NML"). In its
press release of January 26, 2012 (see NML press release numbered 12-04), NML
stated the proposition that these ore bodies constitute one continuous zone of
mineralization. The discovery of the mineralization from drilling by the Company
at the Northwest Zone would support that concept. The Company plans to drill
test the four kilometre long southern strike extension of the Northwest Zone up
to the property boundary this coming season. (Refer to "Block 103 Map" Figure 1
attached, which can also be found at www.cap-ex.ca). 


The Company expects to soon receive additional 2011 drill assay results for the
"Greenbush Zone" at Block 103.


Cap-Ex President and CEO, Mr Francois Laurin commented, "The latest drill holes
continue to deliver quality results from our Block 103 property. We have
designed an aggressive exploration program with the objective of issuing an
initial mineral resource estimate by the end of 2012 and a preliminary economic
assessment by the end of the first quarter of 2013." 


TABLE 1 - Northwest Zone



----------------------------------------------------------------------------
                    TABLE WITH ASSAYS AND CORE INTERCEPTS                   
----------------------------------------------------------------------------
Hole              From       To    Core interval   Total Fe   True Thickness
----------------------------------------------------------------------------
Number             (m)      (m)              (m)        (%)              (m)
----------------------------------------------------------------------------
DDH103-12          4.9     96.3             91.4       31.5             90.9
----------------------------------------------------------------------------
DDH103-16         29.6    148.4            118.9       31.0            118.2
----------------------------------------------------------------------------
DDH103-17         48.2    196.6            148.4       30.6            147.6
----------------------------------------------------------------------------
                             Previously Released                            
----------------------------------------------------------------------------
DDH103-11          1.2    109.1            107.9       31.8            107.3
----------------------------------------------------------------------------
DDH103-13          1.2     92.4             91.1       32.0             90.6
----------------------------------------------------------------------------
DDH103-15          1.5     96.6             95.1       31.1             94.6
----------------------------------------------------------------------------



Quality Assurance/Quality Control 

The samples from drilling were processed and assayed by SGS Canada Lab based in
Lakefield, ON. 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.


Stock Option Grant 

The Company also announces that it has granted an aggregate of 1,325,000 stock
options to various officers, directors, consultants and employees of the
Company. Each stock option shall entitle the holder thereof to acquire one
common share at a price of $0.99 for a period of five years. The grant is
subject to regulatory approval. 


CAP-EX VENTURES LTD.  

For additional information please visit the Company's website at www.cap-ex.ca.

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 future drilling
programs and budgets, expected mineralization, permitting and title issues, and
the interpretation of drill results. 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. 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.


To view Figure 1: Block 103 Northwest Zone Map, please visit the following link:
http://media3.marketwire.com/docs/764205_fig_1.pdf
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