CEV

Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:XOV) ("Cap-Ex" or
the "Company") is pleased to announce the results of the initial independent
National Instrument (NI) 43-101 Mineral Resource estimate on its wholly-owned
Block 103 Property in Labrador, northeast of Schefferville. Watts, Griffis and
McOuat Limited ("WGM"), Consulting Geologists and Engineers of Toronto, Ontario,
estimated an Inferred resource of 7.2 billion tonnes at 29.2% total iron (18.9%
magnetic iron). This resource estimate is based on a cut-off grade of 12.5%
magnetic iron (magFe%).


"We are extremely excited with this initial resource estimate on a portion of
Block 103 as we far exceeded our publically stated goals for this first
resource," says Francois Laurin, President and CEO of Cap-Ex. "We have clearly
demonstrated the long term potential of the project and look forward to
continuing to develop it by releasing our Preliminary Economic Assessment later
this quarter."


This Inferred resource covers an area with a strike length of approximately 4
kilometers (km) and a width of 2.5km. Based on the Magnetic Airborne survey
previously completed, the Block 103 Property covers a strike length of
approximately 12km. Mineralized zones are open towards the northwest and
southeast and to depth.


Resource Estimate Details

The Mineral Resource estimate for the Block 103 Property is based on results
from 81 diamond drillholes totaling 23,735 meters and is effective as of
February 4, 2013. Mr. Michael Kociumbas, P.Geo., and Mr. Rick Risto, P.Geo.,
both with independent firm WGM, are Qualified Persons as defined by NI 43-101.
WGM has visited the site, collected independent core samples and reviewed the
QA/QC data received to date. Mr. Risto has reviewed and approved the underlying
sampling, analytical and test data used for the estimate and Mr. Kociumbas is
responsible for auditing the in-house Mineral Resource estimate as supplied by
Cap-Ex and has approved the technical data contained in this news release. WGM
is satisfied that the exploration and analytical programs carried out to-date by
Cap-Ex follows Industry Best Practice Guidelines and that the database is
appropriate for Mineral Resource estimation purposes. WGM is of the opinion that
the iron mineralization delineated on the property will be amenable to open pit
mining. The estimate is classified as an Inferred Mineral Resource, consistent
with the CIM definitions referred to in NI 43-101.


This NI 43-101 compliant estimate will be filed in a Technical Report on SEDAR
within 45 days of this news release. Mineral resources, which are not mineral
reserves, do not have demonstrated economic viability. Cap-Ex is not aware of
any environmental, permitting, legal, title, taxation, socio-political,
marketing or other issues which may materially affect its estimate of Mineral
Resources.


The geological and Mineral Resource modelling parameters consisted of:



--  3-D wireframes created from the drillhole intersections on a cross
    sectional interpretation combining assay intervals and major
    lithological units. 
    
--  A block model procedure (block sizes of 30 m x 100 m x 10 m) was used
    with grades interpolated utilizing an Inverse Distance estimation
    technique (ID2); Total Iron (TFe%) and Iron in magnetite (magFe%) were
    modelled. 
    
--  A density model was created based on a best fit regression line from
    selected pycnometer data measurements based on TFe% grade, therefore
    each block in the block model has a unique specific gravity. 
    
--  Inferred Mineral Resources are estimated for blocks with a maximum of
    600 m along strike and a maximum of 400 m on the ends/edges and at depth
    when supporting information from adjacent cross sections was available. 
    
--  A cut-off grade of 12.5% magFe was used for the purpose of reporting
    this initial resource estimate. This cut-off grade was chosen based on
    comparison with other similar taconite deposits in the Labrador Trough. 



Complete assay results are posted on the Cap-Ex website at:
http://www.cap-ex.ca/images/maps/2012Complete/2012_Composites_Complete.pdf. 


Location maps and cross sections are posted on the Cap-Ex website at:
http://www.cap-ex.ca/projects/block-103. 


Split drill core samples were sent to independent contractors Acme Analytical
Laboratories in Vancouver, BC and SGS Mineral Services in Lakefield, Ontario for
analyses. Total iron analysis was performed using X-ray fluorescence (XRF) and
the magnetic component was determined by Satmagan magnetic analysis and Davis
Tube analysis on selected samples. Standards, blanks, and duplicate assays were
included at regular intervals in each sample batch submitted from the field as
part of an ongoing Quality Assurance/Quality Control program.


Cap-Ex's exploration work on the Block 103 Property is supervised by Edward
Lyons, P.Geo., a consultant to the Company and a Qualified Person as defined by
NI 43-101. Mr. Lyons has verified that the results used for the resource
estimate were accurate from the official assay certificates provided to Cap-Ex.


About CAP-EX Ventures Ltd.

Cap-Ex Ventures Ltd. 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 VENTURES 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 Ventures Ltd.
Konstantine Tsakumis
Investor Relations
1-866-683-8030 ext. 232
info@cap-ex.ca
www.cap-ex.ca

Grafico Azioni Cap-Ex Iron Ore Ltd. (TSXV:CEV)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Cap-Ex Iron Ore Ltd. (TSXV:CEV)
Storico
Da Lug 2023 a Lug 2024