VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2013) - Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(FRANKFURT:XOV)(OTCQX:CPXVF) ("Cap-Ex" or the "Company") is pleased to announce the appointment of Mr. Gary Norris to the Board of Directors effective immediately.
Mr. Norris has spent over 30 years working for the Newfoundland and Labrador Government including as the Clerk of the Executive Council and Secretary to Cabinet. Mr. Norris has also held a number of other senior Executive positions, including Assistant Deputy Minister of Environment and Deputy Minister of Intergovernment Affairs Secretariat. He is the current Executive Vice President Government & Community Affairs for Alderon Iron Ore Corp., a leading iron ore development company also located within the Labrador Trough. Mr. Norris will help guide Cap-Ex through the development of its 100% owned Block 103 Iron Ore Project and will provide advice with respect to liaising with local, provincial and federal Governments. Mr. Norris holds a Bachelor of Arts degree in Political Science and Economics from Memorial University of Newfoundland.
"Gary will be an invaluable resource for us as we continue developing our Block 103 Project," says Francois Laurin, President and CEO of Cap-Ex. "His knowledge garnered from his days in the Provincial Government and from working with Alderon is unsurpassed and I'm very excited to have him join our team."
Cap-Ex has granted Mr. Norris, under the terms of its stock option plan, options to purchase up to 150,000 common shares at a price of $0.27. The options are subject to vesting over a two year period and have an expiry date of February 28, 2018.
Cap-Ex is also pleased to announce that its name has changed to Cap-Ex Iron Ore Ltd. Cap-Ex has renamed itself to properly reflect its focus on the development of its Block 103 Iron Ore Project. Cap-Ex also announces that it has changed its registered office to its St. John's office in Newfoundland, Canada. The registered office is now Suite 201, Baine Johnson Centre, 10 Fort William Place, St. John's, NL, Canada, A1C 1K4.
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.
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