I think Keta is right. The heat exchanger won't have a cap on it. The expansion tank will have a cap to add antifreeze to the "fresh water" side of the system.
A heat exchanger is a closed system on both sides with the raw water cooling hose going in one side from the pump and a hose leading to the manifolds or riser (depending on whether you are a full FW cooled or partial). The FW (antifreeze) side of the heat exchanger has a hose from the engine (hot side) and one leading to the water pump (cool side). So... your heat exchanger should have 4 seperate hoses and inlets/outlets.
PS- you can "winterize" the entire raw water side by dropping the stern drive in an anitfreeze tank and running the engine. It wil lpump the anitfreeze solution through the raw water side and back into the tank thru the exhaust. That's what a lot of the boat shops do. The problem is that that stuff is toxic and when you launch it in the spring you will pump all that antifreeze into the river.
I used RV (non-toxic) antifreeze and the mickey mouse ears hooked to a funnel to do the same thing. Much easier on the enviroment. Draining the heat exchanger and manifolds wil do the same thing. Don't forget to drop the stern drive fully and let it drain as well.