Carmax Provides Progress Report on Summer Field Program on Eaglehead Property

Carmax Mining Corp. ("Carmax") (TSX VENTURE:CXM) is pleased to provide this
update on the Summer Exploration Program currently in progress on its Eaglehead
property located in northern British Columbia and other corporate activities. 


Highlights:



a.  The Quantec Titan-24 DCIP survey over the East, Bornite, Camp and Pass
    mineralized zones has been completed. Preliminary results are expected
    by the end of July; 
b.  The 2014 exploration program for the Eaglehead project has been expanded
    to include a high sensitivity airborne magnetic survey which is expected
    to commence within a few days; 
c.  Carmax is purchasing at cost an additional 2,130 ha of mineral tenures
    that surround the Eaglehead property from Copper Fox Metals Inc.
    ("Copper Fox") (TSX VENTURE:CUU); and 
d.  Copper Fox has notified Carmax that it intends to take up an additional
    1,960,878 units of Carmax pursuant to its pre-emptive and top-up rights
    provided for in connection with the recently completed private placement
    of Carmax, the closing of which was announced May 29, 2014. 



Jevin Werbes, President of Carmax commented, "The 2014 exploration program is
underway and the data acquired from the work to date has mandated changes to our
initial program. The location of the new zone of copper mineralization along
with the re-logging of the historical core has advanced our understanding of the
porphyry potential of the project. We are looking forward to seeing the results
of the Quantec and airborne surveys over the next few weeks."


The Quantec Titan-24 survey over a 5.6 kilometre long portion of the property
that covers the East, Bornite, Camp and Pass mineralized zones has been
completed. A total of 10 lines at a 600m line spacing has been completed. 


A new zone of oxide copper mineralization has been located east of the Camp and
Pass zones. Preliminary work suggests that the zone is at least 600m long and
250m wide. This area has been covered by the Quantec Titan-24 survey. The
mineral tenures being purchased from Copper Fox protects this new discovery to
the east as well as favorable volcanic rock to the west. The mineral tenures are
being acquired from Copper Fox at cost.


Northern Fox Copper Inc. ("Northern Fox"), a wholly owned subsidiary of Copper
Fox Metals Inc. ("Copper Fox"), pursuant to Copper Fox's pre-emptive and
non-dilution rights set out in the Letter Agreement between Copper Fox and
Carmax dated March 17, 2014 has notified Carmax of its intentions to take up an
additional 1,960,878 units of Carmax at the same price as the recently announced
private placement, which top-up subscription will add $98,043.88 to Carmax's
treasury once closed. The exercise of the pre-emptive right and top-up
subscription will allow Northern Fox to maintain a 42.09% equity interest in
Carmax, the percentage ownership of Northern Fox established under Carmax's
recent private placement. Each unit being placed by Carmax is priced at $0.05
and will consist of one common share and one common share purchase warrant of
Carmax with each common share purchase warrant providing the holder with the
right to purchase, for a period of two years following the date of closing, one
additional common share of Carmax at a price of $0.075 per share, subject to the
terms and conditions set forth in the warrant certificate. The top-up placement
is subject to the TSX Venture Exchange approval. 


About the Eaglehead Project

The property hosts an NI 43-101 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 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 48 km east of Dease Lake,
in northwestern British Columbia. 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 not including the proposed
mineral tenure acquisition set out above. 


Eaglehead Property hosts porphyry style copper-molybdenum-gold silver
mineralization in potassic and phyllic altered granodioritic and monzonitic
rocks. Mineralization occurs as dominantly fracture controlled chalcopyrite +/-
bornite as well as in quartz stockworks and hydrothermal breccia zones.
Disseminated chalcopyrite, and fracture controlled molybdenite as well as pyrite
also occur the mineralized zones located to date. Past work has identified six
mineralized zones 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 completed a private placement of 4,660,000 units, for aggregate
proceeds of $233,000, was completed on July 9, 2014 (see News Release July 10,
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.


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. This news release is not for distribution in the
United States or over United States newswires.


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. Forward-looking
information in this news release includes, but is not limited to, statements
about the exploration program at the Eaglehead project; the additional
subscription by Northern Fox for units in Carmax; the resource estimate at the
Eaglehead project; and statements about Carmax's strategy, future operations and
prospects.


In connection with the forward-looking information contained in this news
release, Carmax has made numerous assumptions. While Carmax considers these
assumptions to be reasonable, these assumptions are inherently subject to
significant uncertainties and contingencies. Additionally, there are known and
unknown risk factors which could cause Carmax's actual results, performance or
achievements to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking information contained
herein. Known risk factors include, among others: the airborne magnetic survey
may not proceed as anticipated, or at all; the top-up placement by Northern Fox
in Carmax may not be complete as currently anticipated, or at all; the Quantec
geophysical survey located additional mineralization or mineralization as
favorable as suggested by the resource estimate; fluctuations in copper prices
and demand; currency exchange rates; conditions in the financial markets and the
overall economy may continue to deteriorate; uncertainties relating to
interpretation of the previous drill results and the geology, continuity and
grade of Eaglehead project; the need to obtain additional financing and
uncertainty of meeting anticipated program milestones; uncertainty as to timely
availability of permits and other governmental approvals.


A more complete discussion of the risks and uncertainties facing Carmax is
disclosed in Carmax's continuous disclosure filings with Canadian securities
regulatory authorities at www.sedar.com. All forward-looking information herein
is qualified in its entirety by this cautionary statement, and Carmax disclaims
any obligation to revise or update any such forward-looking information or to
publicly announce the result of any revisions to any of the forward-looking
information contained herein to reflect future results, events or developments,
except as required by law.


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