News

Carmax Mining Corp. (“Carmax”) is pleased to announce that it has now completed its 2011 diamond drill program on the East Zone and Bornite Zone target areas of its Eaglehead Cu-Mo project located in northwest British Columbia. The program consisted of the drilling of 8,300 meters in 25 holes.  Drill crews were demobilized from the camp and as of October 05, 2011 the final three holes of core were split and sent to ACME labs of Vancouver for assays.  The results of the program will be released when they are received.

The 2011 exploration program followed the recommendations of Hrayr Agnerian, P.Geo as contained in his Qualifying Report dated December 20, 2010 filed on Sedar under the Company’s profile.

By virtue of the expenditures incurred during the 2011 exploration season, Carmax has now spent more than $6,000,000 in exploring and developing the Eaglehead property as a result of which Carmax now owns a 100% in and to the property subject to a 2.5% net smelter return royalty on future production.

In accordance with the recommendations of Hryar Agnerian as contained in his Qualifying Report, the results will be forwarded to Roscoe Postle Associates Inc., the Company’s independent outside consultants now retained to provide a NI 43-101 compliant mineral resource estimate if possible that will be inclusive of exploration activities and data assembled from the property to date. 

Exploration to date has outlined at least six areas with porphyry-type copper-molybdenum mineralization on the property.  Prior published drill results had indicated that the East Zone hosts at least ten zones of west-northwest trending porphyry type Cu-Mo mineralization.  The 25 additional holes drilled in 2011 are expected to further delineate the size and extent of the mineralization at the East Zone and Bornite Zone target areas.

Past exploration on the Bornite Zone has revealed at least eight areas of Cu-Mo mineralization with similar orientation to the East Zone.  The mineralized area in both zones range in horizontal thickness from 5 m to 70 m.

Hrayr Agnerian, P.Geo. a Director of Carmax, is the qualified person as defined in NI 43-101, and has reviewed the technical information contained in this news release.

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Jevin Werbes, President

For further information, please visit the website at www.sedar.com to view the Company’s profile or contact Jevin Werbes at 604-921-1810.

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.