August 23, 2011
Cap-Ex Ventures Ltd. (TSX-V: CEV) ("Cap-Ex" or the "Company") is pleased to announce that it has now received initial assay results from its Porky Lake property. The Porky Lake property covers approximately 13,000 hectares and is located 50 kilometres northeast of Schefferville, Quebec.
The summer reconnaissance program returned encouraging results including, PR8, a 1.2 metre channel sample from blue dense hematite locally mixed with chert, which returned 62.65% iron and 8.75% silica and sample PR1, a 0.4 metre channel sample from blue dense hematite mixed with chert, which returned 54.18% iron and 21.2% silica. During the visit samples were collected over a 750 metre strike length of the hematite bearing zone, which consists of layers of dense, blue hematite with an estimated total thickness of 91 metres.
The Company will follow up with a more extensive program to expand the hematite mineralization to the south. The rock exposure of the sampled hematite zone is limited and as a result only relatively small portions of the zone were sampled.
Historic reports from Iron Ore Canada (IOC) indicate that hematite iron mineralization is fairly continuous over the entire 50 kilometre strike length.
In order to test the full width of the hematite zone the Company plans to follow up with drilling this season.
The Company is currently awaiting initial drill core assays from Block 103 and initial assay results from the Company's Redmond property; both are expected within two weeks time.
Drilling continues at Block 103 with drilling at Redmond to commence in September.
Edward Kruchkowski, P.Geo., a qualified person pursuant to National Instrument 43-101 and director of the Company, has reviewed and approved of the contents of this news release.
CAP-EX VENTURES LTD.
President and CEO
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"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements