Carmax Mining Corp. Closes Tranche Two of Non-Brokered Private Placement

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED
STATES NEWSWIRES. 


Carmax Mining Corp. (TSX VENTURE:CXM) ("Carmax" or the "Company") is pleased to
announce that it closed on July 9, 2014 the second and last tranche of the non
brokered private placement of 24,000,000 units. The last tranche was
oversubscribed by 660,000 units. All units were placed at a price of $0.05 per
unit giving rise to the Company raising gross proceeds of $1,233,000.


Each unit placed consisted of one share and one share purchase warrant providing
the holder with the right to subscribe for one additional common share for each
full warrant held at a price of $0.075 per share for a period of 24 months from
date of closing. 


No finder's fees were paid by Carmax incidental to this placement.

The 4,660,000 units placed in the second tranche have been issued subject to a
four month hold period expiring November 10, 2014.


Stock Options:

The Company also wishes to announce that with the closing of the private
placement the Company has granted incentive stock options under its stock option
plan on 4,050,000 treasury shares exercisable on or before the expiry of 5 years
from the date of grant at a price of $0.07 per share.


On behalf of the Board of Directors 

Jevin Werbes, President and CEO 

Carmax Mining Corp. 

For further information, please visit the website www.sedar.com to view the
Company's profile.


Neither 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. 


This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of the securities described herein in the United States. The
securities described in this news release have not been and will not be
registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such
registration is available. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Carmax Mining Corp.
604-921-1810