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UPDATE: Cap-Ex Off 8% Despite Strong Drill Results that Continue to Support New Iron Ore Discovery

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Cap-Ex Ventures Ltd. (CEV.V) was off 8% 30 minutes after the market opened today and was trading near the lower end of a $1.12 to $1.20 range despite reporting strong results from diamond drilling completed in 2011 on its wholly owned Block 103 iron ore property. The company said drill hole DDH103-35, intersected 70.1 meters at 29.7% Fe and 33.75% DTWR from 5.18 meters.

Cap-Ex President and CEO Mr Brett Matich comments, "The Board is pleased with the initial results from the Greenbush Zone discovery. Block 103 appears to host a multi-billion tonne near surface iron ore deposit."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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