CEV

Cap-Ex Iron Ore Ltd.  (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:X0V) ("Cap-Ex" or
the "Company") announces that its Board of Directors has called a special
meeting of shareholders for July 9, 2014 to authorize, by way of special
resolution, a 1 for 4 consolidation (the "Consolidation") of the Company's share
capital and the continuation of the Company to British Columbia (the
"Continuance"). As of the date hereof, there are 97,767,986 common shares of the
Company outstanding, of which 24,441,996 shares will be issued immediately
following the Consolidation. 


The Consolidation and Continuance are also subject to the acceptance of the
Exchange. The Company does not intend to implement a name change in conjunction
with the Consolidation and does not intend to change its symbol unless required
by the Exchange. The Company's Board of Directors is of the opinion that the
Consolidation would leave it better positioned to raise equity financing in the
future and the Continuance will facilitate the administration of the Company's
corporate records following the return of the Company's head office to
Vancouver, B.C. last year.


In addition, Cap-Ex has agreed to a debt settlement with a non-arm's-length
company controlled by certain directors and officers of the Company pursuant to
which Cap-Ex will issue, subject to the acceptance of the Exchange, an aggregate
of 10,000,000 pre-consolidated common shares (2,500,000 post-consolidated
shares) at a deemed price of $0.025 per pre-consolidated share ($0.10 per
post-consolidated share) in settlement of outstanding indebtedness totaling
$250,000 in respect of certain drilling and exploration services provided to the
Company in 2013 (the "Debt Settlement"). The Company has determined to satisfy
this outstanding indebtedness with shares in order to preserve its cash for
operations.


The Debt Settlement is subject to Exchange acceptance and all shares issued
pursuant to the settlement will be subject to a four-month hold period.


Jasvir Kaloti, has resigned as Corporate Secretary. Management of Cap-Ex thanks
Ms. Kaloti for her many years of service and wishes her well in her future
endeavors. Martin Burian, CFO of Cap-Ex., was appointed as Corporate Secretary.


About Cap-Ex Iron Ore Ltd.

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

Graham Harris, CEO and Director

Cautionary Note Regarding Forward-looking Information 

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. 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. Specifically, the Consolidation and Continuance are subject to
shareholder approval by way of special resolution. In addition, the
Consolidation, the Continuance and the Debt Settlement are subject to the
acceptance of the Exchange. There are no assurances that such approvals and
acceptances will be obtained in a timely manner or at all. 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.


NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM
IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cap-Ex Iron Ore Ltd.
Investor Relations
604-669-2279
info@cap-ex.ca
www.cap-ex.ca

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