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CXM

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Share Name Share Symbol Market Type
TSXV:CXM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Carmax Announces Summer Field Program on Eaglehead Property

03/06/2014 11:00am

Marketwired Canada


Carmax Mining Corp. ("Carmax") (TSX VENTURE:CXM) is pleased to announce plans
for a comprehensive summer exploration program on its Eaglehead property located
in northern British Columbia. The program will include line cutting, ground
geophysics, metallurgical testing, core relogging and approximately 4000m of
diamond drilling. The budget for the proposed work is estimated to be $1.2
million.


The objectives of the 2014 field program will be to:



--  Improve the geological model by deep penetrating geophysics; 
--  Drill 2 holes for scoping-level metallurgical testing; 
--  Drill approximately 6 exploration holes to improve our understanding of,
    and to test possible extensions to the East and Bornite zones; 
--  Comprehensive relogging of old drill core located on-site.



Crews have been mobilized to open the camp and a two-three week line cutting
program to be undertaken by Sawtooth Exploration Services will commence June 9,
2014. The ground geophysics program is scheduled to commence June 16 using
Quantec Geoscience's Titan 24 DCP system. Ten lines are planned, each being
1800m in length with a dipole spacing of 75m. The line spacing will be 600m and
will cover both the East and Bornite zones with penetration to a depth of
550-650m.


The diamond drill program is planned to commence in early July. The first two
holes will be for metallurgical testing, one in each of the East and Bornite
zones, for a total of 1000m. This will be followed by approximately 6
exploration holes (average 500m each) to provide additional testing of the East
and Bornite zones, as well as testing for continuity of mineralization along
strike between these two zones. DJ Drilling of Watson Lake will provide the
contract drilling services. All analytical work (both core geochemistry and
metallurgical) will be carried out by SGS of Vancouver.


In addition, an extensive program of relogging the old drill core will be
carried out to establish continuity and enhance the geological model of the
property.


Jevin Werbes, President and CEO of Carmax commented, "We are delighted to
commence the 2014 Exploration Program following one year of inactivity caused by
the devastating 2013 venture market conditions. With the Company's just
completed financing and the addition of a strong new financial participant in
the future of the Company, we anticipate that this program will significantly
enhance the potential of the Eaglehead project."


About the Eaglehead Project

The property hosts an NI 43-101 compliant Inferred Mineral Resource estimated to
total 102.5 million tonnes at an average grade of 0.29% Cu, 0.010% Mo and 0.08
g/t Au. The report, filed on Sedar at www.sedar.com under the Company's profile
was prepared by RPA Inc and was previously announced in a Carmax news release
dated May 16, 2012. The resource was estimated at a cut-off grade of 0.16% CuEq,
to contain approximately 662 million pounds copper, 22 million pounds
molybdenum, and 265,000 ounces gold. The Mineral Resource is contained within
two conceptual open pits covering the East and Bornite zones approximately 69%
of the total mineralization above the grade cut-off.


The Eaglehead Cu-Mo Project is located approximately 1,100 km north of Vancouver
and approximately 48 km east of Dease Lake, a town of approximately 200 people,
in northwestern British Columbia. The northwest-southeast oriented property
extends approximately 28 km along strike from Eaglehead Lake at its northwestern
extremity to approximately 8 km past Tournigan River in the southeastern part of
the property. The property comprises 31 mineral claims consisting of 613 cells
covering a total area of approximately 11,410 hectares (ha) in the Liard Mining
Division of British Columbia. 


Copper and molybdenum mineralization on the Eaglehead Property is typical of
porphyry Cu-Au-Mo systems associated with hydrothermal alteration assemblages
within intermediate volcanic rocks and granodioritic and monzonitic rocks,
similar to other porphyry copper deposits within the Quesnel Trough of British
Columbia. Mineralization is comprised of altered zones, quartz stockworks and
hydrothermal breccia zones that contain disseminated chalcopyrite, molybdenite
and other sulphide minerals. Past work has identified six target areas on the
property.


About Carmax

Carmax is a Canadian company engaged in exploration for porphyry
copper-gold-molybdenum deposits in northwestern British Columbia. The company
recently entered into a subscription agreement with Copper Fox, whereby Copper
Fox, through a subsidiary subscribed for 20,000,000 units of Carmax for
aggregate proceeds of $1,000,000 (see news release May 29, 2014).


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


Jevin Werbes, President

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.


Cautionary Statement on Forward Looking Statement

Certain information contained in this news release, including information as to
our strategy, projects, plans or future financial or operating performance and
other statements that express management's expectations or estimates of future
performance, constitute "forward looking statements". Actual results may differ
materially from those indicated by such statements. All statements, other than
historical fact, included herein, including, without limitations statements
regarding future production, are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Carmax Mining Corp.
Jevin Werbes
604-921-1810
www.carmaxmining.com

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