August 01, 2011
Cap-Ex Ventures Ltd. (TSX-V: CEV) ("Cap-Ex" or the "Company") wishes to respond to the July 28, 2011 release (the "Release") of MiningWatch Canada concerning its activities in the Schefferville region of Labrador.
The Company is engaged in initial exploration of certain mining properties in the Schefferville region (the "Schefferville Properties"). The Schefferville Properties lie within areas to which certain First Nations and aboriginal groups (the "First Nations / Aboriginal Groups") have asserted aboriginal rights including title and treaty rights based on traditional activities.
One of the First Nations / Aboriginal Groups which has asserted rights in the area of the Schefferville Properties is the ITUM or Uaashat mak Mani-Utenam (the "Innu of Sept-Iles") based near Sept-Iles Quebec.
In the spring and early summer of this year, the Company submitted to the government of Labrador and Newfoundland proposals and an application for an exploration permit (the "Permit") to commence exploration of the Schefferville Properties. In conjunction with its application for the Permit, the Company met with the First Nations / Aboriginal Groups to determine what concerns, if any, they might have concerning the Company's proposed exploration. The government of Newfoundland and Labrador issued the Permit only after completing its own consultation process with the First Nations / Aboriginal Groups and only after the Company's proposed exploration program had been significantly revised to accommodate environmental concerns and, it was hoped, to concurrently limit any impact on traditional activities in the area of the Schefferville Properties.
The Company and First Nations / Aboriginal Groups (excepting the Innu of Sept-Iles) have been working cooperatively and positively in exploring the Schefferville Properties. The Company is engaged in business dealings with the Naskapi and its exploration efforts have been strengthened and advanced by the exploration and training work being performed by members of the Innu of Schefferville.
The Company is fully committed to working with First Nations / Aboriginal Groups and believes that ethical mining and exploration requires the involvement and real economic participation of these groups as well as efforts, on the part of exploration companies, to reduce any impact on traditional lands and traditional activities.
However, the Company's discussions with the Innu of Sept-Iles have not resulted in a resolution of their concerns. The Innu of Sept-Iles, on July 28, 2011, advised the government of Newfoundland and Labrador that they object to the Company's activities; that they feel the Company had an agreement with them which the Company has not complied with; and that they wish the government to revoke the Permit.
The Company does not agree with many of the Innu of Sept-Iles' assertions in the Release and takes the position that no agreement with the Innu of Sept-Iles has yet been reached.
The Company remains committed to discussions with the Innu of Sept-Iles. The Company will continue to inform the Innu of Sept-Iles of its activities.
The Company does not, at this point, anticipate any disruption of its exploration operations. The Company will inform the public of any material disruption if one were to occur.
For additional information please visit the Company's website at www.cap-ex.ca. You may also email This email address is being protected from spambots. You need JavaScript enabled to view it. or call investor relations at 604-669-2279.
CAP-EX VENTURES LTD.
"Brett Matich"
Brett Matich,
President and CEO
"Neither the 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."
"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