April 27, 2011
Cap-Ex Ventures Ltd. (TSX-V: CEV) ("Cap-Ex" or the "Company") is pleased to announce that it has closed its acquisition of Newfoundland / Labrador Mineral Licence Number 017130M (the "Elross Claims"). The Elross Claims were acquired from Darrin Hicks ("Hicks") pursuant to an agreement (the "Hicks Agreement") dated the 4th day of April, 2011. The Hicks Agreement was first announced in the Company's news release dated April 7, 2011. Consideration for the acquisition of the Elross Claims was a cash payment of $20,000 and issuance of 100,000 common shares (the "Shares"), subject to escrow terms equivalent to those for Tier II Value Escrow Shares. The Company has granted to Hicks a 2% royalty on commercial production from the Elross Claims. In addition to the escrow terms described above, the Shares are subject to TSX Venture Exchange hold period expiring on August 19, 2011.
The Company also announces that it has closed its acquisition of Newfoundland / Labrador Mineral Licence Number 017142M (the "Wishart Lake Claims"). The Wishart Lake Claims were acquired from Alexander Duffitt and Paul Strong (the "Vendors") pursuant to an agreement (the "Duffitt-Strong Agreement") dated the 3rd day of April, 2011. The Duffitt-Strong Agreement was first announced in the Company's news release dated April 7, 2011. Consideration for the acquisition of the Wishart Lake Claims was a cash payment of $20,000 (being $10,000 to each of the Vendors) and issuance of 100,000 common shares (the "Duffitt-Strong Shares"), subject to escrow terms equivalent to those for Tier II Value Escrow Shares. Each of the two Vendors was issued 50,000 of the 100,000 Shares. The Company has granted to the Vendors a 2% royalty (being 1% to each of the two Vendors) on commercial production from the Licence. In addition to the escrow terms described above, the Duffitt- Strong Shares are subject to TSX Venture Exchange hold period expiring on August 21, 2011.
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."