Carmax Explorations Ltd.
TSX VENTURE : CMX

Carmax Explorations Ltd.

September 28, 2007 17:08 ET

Carmax Explorations Ltd.: Third Drill Rig Added to Eaglehead Property, New Investor Relations Contract Signed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2007) - Carmax Explorations Ltd. (TSX VENTURE:CMX) ("Carmax") is pleased to announce that a third drill rig has now been mobilized for drilling on the Company's Eaglehead property to continue with Carmax's 2007 drill program on the property which is located approximately 50 kilometers east of Dease Lake, British Columbia. This third drill rig is in addition to two other rigs that have been drilling at locations on both the Bornite and East Zones since the commencement of Carmax's 2007 exploration program. The third rig has been positioned for drilling the Far East Zone anomaly.

The previously defined anomalies in both the Bornite and East Zones have been extended in the current program with infill and step out drill holes currently in progress.

Past exploration activities on the Eaglehead property have indicated that the property has the potential to host a large copper-molybdenum-gold-silver porphyry deposit.

The property has now been explored with a total of 69 drill holes totaling 15,309 meters (of which 3,076 meters were completed by Carmax in 2006) over a distance of 7 kilometers prior to the Company's current program. Geochemical and geophysical surveys have indicated that mineralization extends for approximately 17 kilometers in the area covered by Carmax's claims.

In the current exploration season approximately 2200 meters (7200 feet) have been completed with all holes encountering numerous intercepts of copper and molybdenum mineralization. Drill core has been delivered to the assay lab on a continuous basis during the season and drill results from the program to date are pending.

In addition to the drill program currently in progress line cutting and a 3D IP survey have been completed over approximately 45 line kilometers covering the Bornite, East and Far East zones.

Several new targets have been defined in the Far East zone where coincident Cu, Ni, Mo, Au, Pt and Pd soil geochem anomalies were identified in last years exploration program.

An additional 150 soil geochem samples have been taken and shipped to Vancouver for analysis to cover the area to the south and east where the anomaly was left open.

INVESTOR RELATIONS CONTRACT

Carmax Exploration Ltd. is pleased to announce that it has retained the services of KCrew Communications Inc. of Vancouver, Canada, to provide investor relations services for the company, commencing September 27, 2007, subject to TSX Venture Exchange approval.

KCrew Communications Inc. is a financial marketing and corporate communications firm. Its mission is to help small- to mid-cap public companies improve their visibility in the investment community and expand the size of their investor followings.

KCrew Communications Inc. will receive a monthly fee of $8,500 plus miscellaneous expenses and will be granted 600,000 incentive stock options exercisable at $0.10 per share. The investor relations contract is for the fixed term of 3 months and will thereafter continue on a month to month basis until terminated by either party.

Additional and more detailed information including property maps of the Eaglehead Property may be obtained on the company's website www.carmaxex.com.

John R. Poloni, P.Eng. is the qualified person responsible for the technical data presented in this News Release.

Ernest S. Peters, President

The Company relies upon litigation protection for "forward-looking" statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Carmax Explorations Ltd.
    Ernest S. Peters
    President
    (604) 408-2212 or Toll Free: 1-888-408-2212
    (604) 689-4143 (FAX)
    Website: www.carmaxex.com