CEV

Cap-Ex Iron Ore Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:XOV) ("Cap-Ex" or
the "Company") announces that it has agreed to reprice the brokered private
placement ("the Offering") from $0.15 per Unit of Cap-Ex ("the Unit") as
previously announced on March 22nd , 2013 to $0.10 per Unit, subject to the
approval of the TSX Venture Exchange ("TSXV"). The maximum of $5,000,000 has
been reduced to $3,000,000. Each Unit will be comprised of one common share and
one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle
the holder to purchase one common share of the Company at an exercise price of
$0.20 for a period of 24 months from the date of issue. Insiders will subscribe
up to a maximum amount of $1.3 million. 


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
Cap-Ex on the TSXV Exchange is greater than $.50 per share for 20 consecutive
trading days, Cap-Ex may give written notice to warrant holders that the
Warrants will expire 30 calendar days after the dates of such notice.


The Company intends to use the net proceeds of the Offering to continue to
advance its Block 103 Project with a 2013 drilling program and to seek a
strategic partner.


The securities being offered hereby have not been, nor will they be, registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold in the United States or to, or for the account or benefit of,
U.S. persons absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any state or province in which such offer, solicitation or sale
would be unlawful.


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.


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

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