CAP-EX IRON ORE LTD. "THE COMPANY"
Aboriginal Relations Policy

The Company acknowledges that it operations on and takes part in activities that take place on lands that aboriginal peoples have been occupying and using since time immemorial. The Company wishes to be a good steward of the lands and resources.

The Company will promote relationships with aboriginal peoples based on mutual respect and a shared understanding of each others' rights and interests.

The Company recognizes that the reconciliation of aboriginal title and Crown title is a complex and long-term process that only the aboriginal governments and public governments can achieve. The company supports the government-to-government reconciliation process. The company seeks to reach understandings with aboriginal governments that promote a relationship that is long-term, stable and mutually-beneficial.

The objectives of the company's commitment to aboriginal relations are to:

• Identify the aboriginal governments relevant to the areas of its proposed activities and operations as early as possible.
• Seek and promote open and honest dialogue about the proposed activities and operations.
• Provide information to aboriginal governments and communities about its proposed activities and operations that are accurate, timely and which is updated to reflect changing circumstances or plans.
• Work cooperatively with aboriginal governments and communities to gain an understanding of the potential impacts of its activities and projects on aboriginal interests and seek ways to avoid or mitigate impacts.
• Ensure that its employees, contractors and suppliers are aware of its Aboriginal Relations Policy, participate in training on the policy and are given opportunities to recommend means to improve the policy and aboriginal relations outcomes.
• Seek aboriginal employees, contractors and suppliers where they can provide the required supplies and services in a safe, skilled manner and at a competitive price.
• Contribute to aboriginal education and training reflective of the stage of mineral development that encourages aboriginal people to work in the mining industry.
• Encourage public governments to implement sound policies that reflect the current and changing laws, the interests of aboriginal governments and the realities of a market-driven mineral exploration, development, mining and production industry.

CAP-EX IRON ORE LTD. "THE COMPANY"
Environmental Policy

THE COMPANY identifies environmental management as essential to its own future. The company considers that sound environmental management benefits all stakeholders, including shareholders, employees, nearby residents and the broader community.

THE COMPANY regards environmental care as an integral part of its business, and is committed to excellence in the management of environmental matters. 

THE COMPANY aims to minimize environmental impacts at every stage of work, from planning through exploration, development, mining, production and decommissioning.

The objectives of the company's commitment to environmental management are to: 

• Comply with all environmental legislation, licenses and regulations.
• Develop, implement and maintain a comprehensive Environmental Management System.
• Recognize conservation and aboriginal values.
• Identify, manage and monitor potential environmental impacts, striving to comply with international leading practices.
• Rehabilitate disturbed land surfaces.
• Review and evaluate environmental performance.
• Seek continuous improvement in exploration, mining, waste management and the use of resources.
• Have timely and effective communications with landowners, aboriginal people and other land and resource users who may be affected by company operations.
• Communicate regularly with employees, suppliers, contractors and customers about the aims of the Corporate Environmental Policy.
• Ensure that Company employees, contractors and suppliers are aware of our Environmental Policy, participate in training on the policy and are given opportunities to recommend means to improve the policy and our environmental performance.
• Provide information to the community, shareholders and government authorities about the Company's environmental performance.