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Carmax Announces Delayed Decision Date FOR Judicial Review Regarding Mineral Claims

Corporate Updates

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142 – 1146 Pacific Blvd.,

Vancouver, BC V6Z 2X7

Tel: (604) 620-7737

www.carmaxmining.com

NEWS RELEASE

TSX.V: CXM May 10, 2017

CARMAX ANNOUNCES DELAYED DECISION DATE FOR JUDICIAL REVIEW

REGARDING MINERAL CLAIMS

May 10, 2017 , Vancouver, British Columbia – Carmax Mining Corp. (th e “Company”) (TSX.V: CXM)

announces it has been advised by its legal counsel that the judicial decision that was to be delivered on

May 12, 2017 has been delayed until Monday, July 17 th, 2017 . At that time; the Honourable Justice

Schultes will deliver an oral decision on the claim made by certain petitioners’ challenging the Gold

Commissioners decision to reinstate Carmax’s claim #1034634 (see news release dated July 19, 2016).

The Company will promptly issue a news release once the decision is delivered.

About Carmax Mining

Carmax Mining Corporation is a Vancouver-based Canadian company engaged in exploration for porphyry

copper-gold-molybdenum deposits in northwestern British Columbia.

Visit www.carmaxmining.com to view the Company’s profile or contact Jevin Werbes or Judy A. McCall at

604-620-7737.

“Jevin Werbes”

___________________________

Jevin Werbes, President & CEO

Neither the TSX Venture Exchange nor its Regulation Servic es 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

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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 strategy, projects, plans or future financial or operating

performance and other statements that express management’s expectations or estimates of future performance, constitute “forwa rd looking

statements”. Actual results ma y differ materially from those indicated by such statements. All statements, other than historical fact, included

herein, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will pro ve

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 judicial review and decision that will be taken when the

Supreme Court of British Columbia proceedings are finalized.

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 f rom any future results, performance or achievements expressed or implied by the forward -looking information contained

herein.

A more complete discussion of the risks and uncertainties facing Carmax is disclosed in Carmax's continuous disclosure filing s 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.