MONTREAL, QUEBEC -- (Marketwire) -- 05/25/12 -- Cap-Ex Ventures Ltd. (TSX VENTURE: CEV)(FRANKFURT: X0V)(OTCQX: CPXVF) ("Cap-Ex" or the "Company") is pleased to announce that it has entered in a definitive exploration agreement (the "Exploration Agreement") with Innu Takuaikan Uashat Mak Mani-Utenam ("ITUM"), which replaces the Letter Agreement between the Company and ITUM dated November 30, 2011 (see the news release issued by the Company on December 1, 2011).
Pursuant to the terms of the Exploration Agreement, the Company will issue 300,000 common shares to ITUM upon receiving final approval of the Exploration Agreement from the TSX Venture Exchange. In addition, the Company has agreed to make annual payments to ITUM conditional upon the Company completing certain levels of exploration activities on its properties during the previous year.
The Company has also agreed to work with ITUM to monitor environmental and other impacts of the Company's exploration activities and will make an annual payment to ITUM to finance such monitoring by ITUM.
In consideration for the benefits received by ITUM under the Exploration Agreement, ITUM has given its consent to the Company's exploration activities on its properties.
The Exploration Agreement is to be for the duration of the Company's exploration activities in the future.
ABOUT CAP-EX VENTURES LTD.
Cap-Ex Ventures Ltd. is a TSX Venture Exchange-listed company focused on the development of its Block 103 iron ore property in the Labrador trough, near the mining town of Schefferville, Quebec.
Through its exploration efforts Cap-Ex has revealed two primary zones of magnetite mineralization on its wholly owned Block 103 Property: the Northwest Zone and the Greenbush Zone. Both zones exhibited excellent drilling and assay results and have high potential to identify additional mineralization as several holes terminated in mineralization and, in most holes, mineralization started near surface and is open in all directions
The Block 103 property is strategically located close to existing railway to shipping port, and is adjacent to New Millennium Iron Corp's LabMag and KeMag deposits and the New Millenium-Tata oxide deposits to the east.
For additional information about Cap-Ex Ventures visit the company website at www.cap-ex.ca. Follow us on Facebook (Search Cap-Ex Ventures) or Twitter @CapExVentures.
Alex Walus, P.Geo., an employee of the Company and a qualified person pursuant to National Instrument 43-101, has reviewed and approved the technical and scientific information in this news release.
CAP-EX VENTURES LTD.
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 potential to identify additional mineralization and future exploration plans. 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.
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.
Cap-Ex Ventures Ltd.
Manager, Investor Relations