M3 Metals Corp. V.MLG

Today's Edited News Release

[str8tgoods]

I've taken the liberty of removing the phrases, "All 17 drill holes within the Greenbush zone, publicly disseminated, have encountered a sequence of ore grade mineralization from 45 to 265 metres", and  "Block 103 appears to host a multibillion-tonne near-surface iron ore deposit" which were retracted since a 43-101 estimate hasn't been completed yet.

Now, if this news isn't positive, I don't know what is.  I think that the share price yesterday just got ahead of itself, but it will move back up in time.  GLTA

Cap-Ex drills 70.1 m of 29.7% Fe at Block 103

2011-11-23 08:25 ET - News Release

Mr. Brett Matich reports

CAP-EX VENTURES LTD.: DRILL RESULTS CONTINUE TO SUPPORT NEW IRON ORE DISCOVERY ON BLOCK 103

Cap-Ex Ventures Ltd. has released additional results from diamond drilling completed in 2011 on its wholly owned Block 103 iron ore property, located 30 kilometres northwest of the mining town of Schefferville, Que.

Drill hole DDH103-35 intersected 70.1 metres of 29.7 per cent iron and 33.75 per cent Davis tube weight recovery (DTWR) from 5.18 metres. The company also received the DTWR results for DDH103-28, which intersected 125 metres of 30.4 per cent Fe and 30.84 per cent DTWR from 2.13 metres.

The Greenbush zone currently averages 30.23 per cent Fe and 30.36 per cent DTWR. This is higher than the head-grade iron and DTWR figures of other similar multibillion-tonne magnetite deposits in the Labrador Trough. The resultant Davis tube concentrate estimates grade an average of 66.98 per cent Fe and 5.06 per cent silicon dioxide.

This year's drilling on Block 103's Greenbush zone has enabled the company to outline an area that could host a significant magnetite deposit. The outlined area, called the Greenbush zone, is underlain by a continuous magnetite-bearing horizon (Sokoman formation).

Based on the results of the 2011 drilling and airborne geophysical programs, the following interpretations can be formulated regarding the Greenbush zone:

• The area with strong magnetite mineralization is at least 16 square kilometres in size. This zone features very strong, coincident magnetic and gravimetric airborne anomalies, which show remarkable reliability as drilling targets. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx(see the accompanying table).
• The average length of the core intercepts of magnetite mineralization encountered in the 17 holes drilled in the zone is 128 metres. This number is based on assays from 10 holes and the visual estimation of magnetite content in the remaining holes. The average true width of the magnetite mineralization is estimated at 110 metres.
• Specific gravity (SG) of 3.3 is used at this time, which is the same used for the surrounding deposits.
• The western limb of the Greenbush zone exhibits a folded sequence, as observed in hole 44. This 265-metre hole goes through the Sokomon formation, exits the formation and then re-enters in a reverse formation sequence.
• The mineralization starts near surface in most of the holes, and is open in all directions.

Brett Matich, president and chief executive officer, commented: "The board is pleased with the initial results from the Greenbush zone discovery. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx."

                                      GREENBUSH ZONE ASSAYS AND CORE INTERCEPTSHole                                                                Concentrate     No.          From       To   Core interval   Total Fe     DTWR      Fe      SiO2               (m)      (m)             (m)        (%)      (%)     (%)       (%)DDH103-7     6.08   164.94          158.86       31.2    30.57    70.1       2.3DDH103-8     2.74      121          118.26       28.6    29.29   67.53      5.55DDH103-9    83.57   157.89           74.32       29.5    32.61   67.06      6.12DDH103-23    1.52   161.39           159.9       31.3    31.97   68.51      4.42DDH103-25       0    87.37           87.37       29.9    27.95   69.18      3.51DDH103-27    2.13   129.24          127.11       29.6    26.14   68.08       5.1DDH103-28    2.13   127.26          125.13       30.4    30.84   55.48     10.65DDH103-32   59.73   143.78           84.05       31.9    30.08   69.88      2.79DDH103-35    5.18    75.29            70.1       29.7    33.75   Results pendingDDH103-18   21.33   186.54          165.21                       Results pendingDDH103-19   21.48    66.88            45.4                       Results pendingDDH103-20    1.22   130.99          129.77                       Results pendingDDH103-34   32.61  178.918           146.3                       Results pendingDDH103-38    2.44    92.05           89.61                       Results pendingDDH103-39    2.13   194.16          192.03                       Results pendingDDH103-43   37.49   178.92          141.43                       Results pendingDDH103-44    2.13   267.31          265.18                       Results pending

The company is also awaiting additional assay results from the recently discovered Northwest zone, also located on Block 103. The Northwest zone was tested by six holes over 5.3 kilometres of strike.

The samples from drilling were processed and assayed by SGS Canada Lab, based in Lakefield, Ont. The samples were assayed using XRF, Satmagan and Davis tube techniques.

Alex Walus, PGeo, a qualified person pursuant to National Instrument 43-101, has reviewed and approved the contents of this news release.

We seek Safe Harbor.