Carmax Appoints New Chief Financial Officer

142 – 1146 Pacific Blvd., Vancouver, British Columbia V6Z 2X7 Canada Telephone: (604) 620-7737

NEWS RELEASE

TSX Venture Symbol: CXM.V August 10, 2015

CARMAX APPOINTS NEW CHIEF FINANCIAL OFFICER

Carmax Mining Corp. (“Carmax”) is pleased to announce it has appointed Mr. Braden Jensen as Chief Financial Officer (CFO) of the Company. Mr. Jensen is a Chartered Accountant, with a Bachelor of Commerce degree from the University of Victoria. Mr. Jensen began his career and traditional training with KPMG LLP. He was in the public practice sector for 6 years, concentrating in commodities-based accounting and tax. He then transitioned to the industry, working for the past 3 years at Wellgreen Platinum Ltd. in mineral exploration, construction and operations reporting. Mr. Jensen will be replacing Matthew Wright as CFO. The Company wishes to thank, Matthew Wright for his many years with the company and exceptional work.

Jevin Werbes, President and CEO of Carmax states, “We are excited to have Braden join our team and provide us with the services of an in-house CFO. Mr. Wright will be greatly missed and we all would like to thank him as he was a big part of the Carmax team over the past seven years.”

About Carmax

Carmax is a Canadian company engaged in exploration for porphyry copper-gold-molybdenum deposits in northwestern British Columbia.

For further information, please visit the website at www.carmaxmining.com to view the Company’s profile or contact Jevin Werbes at 604-620-7737.

_____________________________ 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. Forward-looking information in this news release includes statements about the exploration program at the Eaglehead project; 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 resource estimate by Carmax Mining Corp on the Eaglehead copper project may not contain mineralization or a resource as favorable as suggested; the mineral resource estimate for the Eaglehead project may not be reliable or indicative of any commercial benefit to Carmax; additional metallurgical test work on the Eaglehead mineralization may not result in copper recoveries as favorable as presented or recover any copper at all; the 2015 exploration program may not be completed as proposed or at all; the proposed diamond drilling may not intersect copper mineralization as favorable as suggested in the previous diamond drill holes or the diamond drilling may not be completed at all; 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 the Eaglehead deposit; the need to obtain additional financing and uncertainty of meeting anticipated program milestones; and 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.