Cap-Ex Iron Ore To Be Renamed ML Gold Corp

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 2, 2016) - Cap-Ex Iron Ore Ltd. (TSX VENTURE:CEV) is pleased to report that the Company is changing its name to ML Gold Corp. (ML Gold) to better reflect the current focus of Company activities. Effective at the opening, Thursday, November 3, 2016, the common shares of ML Gold will commence trading under the new symbol "MLG". There is no consolidation of capital.

ML Gold will continue exploration of its Aspen Gold and Later Copper-Gold properties in British Columbia, Canada, and on its newly acquired Palmetto Gold Project in Nevada, USA.

In addition, the Company plans to review opportunities with its wholly owned Block 103 iron ore project in Labrador, Canada, which hosts an initial NI 43-101 inferred resource of 7.2 billion tonnes at 29.2% total iron. Renewed interest in Labrador iron is being driven by rising iron ore prices and the Quebec Government's recent acquisition and investment in rail, terminal facilities and other infrastructure in the region.

ABOUT CAP-EX IRON ORE LTD.

Cap-Ex Iron Ore Ltd. is a Canadian listed company, focused on creating shareholder value through discovery and strategic development of mineral properties in North America.

For additional information please visit the Company's website at www.cap-ex.ca.

CAP-EX IRON ORE LTD.

Andrew Bowering, Chairman

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 certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.