VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 3, 2013) - Cap-Ex Iron Ore Ltd. (TSX VENTURE:CEV)(FRANKFURT:XOV)(OTCQX:CPXVF) ("Cap-Ex" or the "Company") announces changes to its senior officers effective May 31, 2013.
Graham Harris has been appointed CEO of the Company. Mr. Harris is one of the founding Directors of Cap-Ex.
Brett Matich has been re-appointed President of the Company. Mr. Matich joined the board in 2011. As President and CEO during 2011, Mr. Matich directed the exploration and drilling programs on the Block 103 iron ore property, which led to the discovery of the Greenbush and the Northwest Zones.
François Laurin has resigned as President and CEO but remains a director of the Company. From his appointment as President and CEO in December, 2011 until May 31, 2013, the Company significantly advanced its properties in Newfoundland and Labrador and prepared an initial resource estimate on its Block 103 iron ore property.
As disclosed in its news release of February 4, 2013, Block 103 contains an initial (NI) 43-101 compliant inferred resource of 7.2 billion tones, grading 29.2 % total iron (18.9 magnetic iron). A Preliminary Economic Assessment is expected to be released in June 2013.
The changes to the Company's senior officers are a part of the Company's plan to move head office operations back to Vancouver as discussed in the Company's news release of May 2, 2013.
About Cap-Ex Iron Ore Ltd.
Cap-Ex Iron Ore 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 IRON ORE LTD.
On behalf of the Board
Brett Matich, President
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.
NEITHER 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.
