CEV

Cap-Ex Iron Ore Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:XOV)  ("Cap-Ex" or
the "Company") is pleased to announce that it has filed a National Instrument
43-101 Technical Report (the "Report") on SEDAR at www.sedar.com. The Report is
with respect to Cap-Ex's Mineral Resource Estimate on the Block 103 Iron Ore
Project in the Labrador Trough, the results of which were announced in a
February 4th, 2013 news release. There are no material differences between the
results announced in that news release and the results in the Report.


The Block 103 Project hosts an initial NI 43-101 inferred resource estimate of
7.2 billion tonnes at 29.2% total iron. Preliminary metallurgical results
indicate marketable pellet feed product. Further details on the resource
estimate can be found in the Report.


Edward Lyons, P.Geo., a consultant to the Company and a Qualified Person as
defined by NI 43-101, has reviewed and approved the technical information
contained in this news release.


About Cap-Ex

Cap-Ex is a Canadian listed company, focused on the development of its Block 103
Iron Ore Property in the Labrador Trough, near the mining town of Schefferville,
Quebec. The Block 103 Property is strategically located close to an existing
railway, which can provide a direct link to a shipping port, and is adjacent to
New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New
Millennium-Tata oxide deposits to the east.


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

CAP-EX IRON ORE LTD.

On behalf of the Board

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 development
potential of the Company's Block 103 iron ore property, future exploration plans
and the expected timing for completion of an NI 43-101 mineral resource estimate
and a preliminary economic assessment. 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.


Cautionary Note Concerning Reserve and Resource Estimates

This press release uses the terms "reserves", "resources", "proven reserves",
"probable reserves", "measured resources", "indicated resources" and "inferred
resources". United States investors are advised that, while such terms are
recognized and required by Canadian securities laws, the United States
Securities and Exchange Commission (the "SEC") does not recognize them. Under
United States standards, mineralization may not be classified as a "reserve"
unless the determination has been made that the mineralization could be
economically and legally produced or extracted at the time the reserve
determination is made. Mineral resources that are not mineral reserves do not
have demonstrated economic viability. United States investors are cautioned not
to assume that all or any part of measured or indicated resources will ever be
converted into reserves. Inferred Resources are in addition to Measured and
Indicated Resources. Further, inferred resources have a great amount of
uncertainty as to their existence and as to whether they can be mined legally or
economically. It cannot be assumed that all or any part of the inferred
resources will ever be upgraded to a higher category. Therefore, United States
investors are also cautioned not to assume that all or any part of the inferred
resources exist, or that they can be mined legally or economically. Disclosure
of "contained ounces" is permitted disclosure under Canadian regulations,
however, the SEC normally only permits issuers to report "resources" as in place
tonnage and grade without reference to unit measures. Accordingly, information
concerning descriptions of mineralization and resources contained in this
release may not be comparable to information made public by United States
companies subject to the reporting and disclosure requirements of the SEC.


National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI
43-101") is a rule developed by the Canadian Securities Administrators, which
established standards for all public disclosure an issuer makes of scientific
and technical information concerning mineral projects. Unless otherwise
indicated, all reserve and resource estimates referred to in this press release
or released by the Company in the future have been or will be prepared in
accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and
Petroleum Classification System. The requirements of NI 43-101 are not the same
as those of the SEC and any reserves reported by the Company in compliance with
NI 43-101 may not qualify as reserves under the SEC's standards.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cap-Ex Iron Ore Ltd.
Investor Relations
1-866-683-8030 ext. 232
info@cap-ex.ca
www.cap-ex.ca

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