Cap-Ex Provides Update on Schefferville Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 20, 2011) - Cap-Ex Ventures Ltd. ("Cap-Ex" or the "Company") (TSX VENTURE:CEV) On January 18, 2011 the Company announced that it had entered into an agreement (the "Agreement") with a group of vendors (the "Vendors") to acquire a group of properties (the "Schefferville Properties") in Labrador and Quebec which were prospective for iron ore.

The Agreement called for the Company and the vendors of the Schefferville Properties to enter into formal agreements (the "Formal Agreements") on or before February 12, 2011. The Agreement further called for Brett Matich to join the Board of Directors of the Company upon execution of those Formal Agreements.

The Company wishes to announce that it has agreed with the Vendors to waive the requirement for Formal Agreements. The parties are proceeding with the Agreement as though it is the final agreement, subject to any future amendments agreed to.

The Company also wishes to announce that, as the requirement for Formal Agreements has been waived, it is immediately appointing Brett Matich to its Board of Directors effective January 19, 2011.

CAP-EX VENTURES LTD.

"Andrew Bowering"

Andrew Bowering, President and CEO

"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."