Carmax Explorations Ltd.: Eaglehead Property Update

VANCOUVER, BRITISH COLUMBIA, Apr 10 (MARKET WIRE) --
Carmax (TSX VENTURE: CMX) is pleased to announce that it will be
commencing its 2008 exploration season on the Eaglehead property with two
drill rigs commencing in the first week in June weather permitting, with
a third rig possibly being added later.

Carmax is well funded for the 2008 exploration season with approximately
$2,400,000 cash on hand which will permit the continuation of its
exploration activities on the Eaglehead property. The current funding was
received by Carmax from the exercise of 14,832,215 warrants at a price of
$0.15 in the last part of 2007. The 2008 drill program is planned to
consist of a minimum of 15 drill holes.

Six mineralized zones have now been determined to exist on the Property -
the West Zone, the Camp Zone, the Pass Zone, the Bornite Zone the East
Zone and the Far East Zone. To date there has been a total of 19,407
meters (63,674 feet) of drilling conducted in 81 drill holes. A map
showing the locations of each of the zones and their proximity to each
other can be found on Carmax's web site www.carmaxex.com.

Of the six defined zones of mineralization only the Bornite Zone has had
sufficient drilling undertaken by prior owners to report volume
calculations. For this zone, it was reported by Charles K. Ikona, P.Eng.
of Pamicon Developments Ltd. on March 30, 2004, assuming a strike of 400
meters, a dip length of 250 meters (to 150 meters below surface) and an
average thickness of 75 meters this volume of material would represent in
excess of 20,000,000 tonnes at a specific gravity of 2.8 grading 0.42%
copper, 0.029% molybdenum, 1.60 grams of silver per tonne and 0.035 grams
of gold per tonne. This material was considered as conceptual in nature
with respect to volumes and grades as there had been insufficient
exploration to define a mineral resource at that time.

Two drill holes were completed in 2007, #75 and #76 which could be
important in extending the known materialized zone 50 meters to the north
and east, #75 - 69.64m @ 0.345% Cu, 0.008% Mo, 0.64 gm/t Ag and 0.107
gm/t Au; #76 - 84.43m @ 0.55% Cu, 0.006% Mo, 3.75 gm/t Ag and 0.105 gm/t
Au. The Bornite Zone is considered as an exploration target and it is
uncertain if the quantity and grade has been sufficiently outlined to
define a mineral resource as defined by national instrument NI-43-101,
but this concept will be evaluated by Carmax and their consultant in the
2008 exploration season.

Various operators from 1972 to 1982 estimated tonnages and grades for the
Eaglehead Property as reported in Paper 33 entitled The Eaglehead
Porphyry Copper Prospect, Northern British Columbia, authored by R.M.
Britten and J.M. Marr included in CIM Bulletin, Special Volume #46 1995
as follows "Geological resources for the Camp and Pass Zones are 2.72
million tonnes grading 0.45% Cu and 11.8 million tonnes grading 0.52% Cu
respectively" (J.M. Marr, unpub 1973). The Bornite Zone 1km to the
southeast was shown to have in excess of 16 million tonnes of 0.65% Cu
equivalent using molybdenum credits (Everett unpub 1982). Qualified
persons have not done sufficient work to classify the historical
estimates and grades as current mineral resources. Carmax is not treating
these historical estimates as current mineral resources and these
historical estimates should not be relied upon. No diamond drilling has
been undertaken on the West, Camp or Pass Zones by the Company but Drill
Holes #75 and #76 do appear to confirm the reliability of prior data for
the Bornite Zone. The 2008 program will include additional drilling on
the Bornite Zone in attempts to arrive at data that would allow the
calculation of a resource that would comply with NI-43-101.

In 2007, Carmax also completed a comprehensive 3D IP geophysical survey
and 7 additional drill holes in the East Zone. Prior to Carmax acquiring
the Eaglehead property, the East Zone had only been drilled with 3 holes
of which drill hole number 55 is reported to have intersected 6.87% Cu,
0.044% Mo, 35.08 gm/t Ag and 1.32 gm/t Au over 6.3m which could be part
of a similar zone intersected in #69A which assayed 21.291% Cu, 1.767%
Mo, 138 gm/t Ag and 3.978 gm/t Au over 0.76m. An additional 4 holes were
drilled by Carmax in the East Zone in 2006.

The additional 11 holes drilled by Carmax on the East Zone in 2006 and
2007 have not only confirmed the reliability of the historical data but
the drill results have extended the area of the known mineralization
which remains open thereby increasing the potential for adding size to
the exploration target, the dimensions of which allows for the
possibility of significant tonnages of mineralization. It should be noted
that two of the holes drilled on the East Zone ended in mineralization of
1% Cu at a depth of approximately 400 meters. However, drill holes
density, to date, does not support resource calculations which comply
with the requirements of National Policy 43-101.

The 2007 3D IP geophysical survey indicates that mineralization from the
Pass Zone to the East Zone, which includes the Camp Zone, is continuous
for a distance of 2,750 meters (9,022 feet). The section between the
Bornite Zone and the East Zone, an area 500 meters (1,640 feet) wide has
not been drill tested. Drilling will be conducted in 2008 in this area.

In assembling all known data to date Carmax has completed a volume
calculation for the East Zone based only on the 14 holes drilled in the
area to date.

The eleven holes completed by Carmax intercepted portions of the East
Zone of mineralization but certain sections such as L19+50E and L19+00E
were tested by single holes only, making interpretation of plunge, dip
and width of mineralization difficult, however, the zone does appear to
have an east-west trend and a southerly plunge. The following numbers are
the weighted average grades for the reported intercepts:

Copper 11 DDH - 16 intercepts - 1,559m 0.347%

Molybdenum 11 DDH - 16 intercepts - 1,559m 0.012%

Silver 11 DDH - 16 intercepts - 1,559m 1.269 gm/t

Gold 11 DDH - 16 intercepts - 1,559m 0.104 gm/t

No cut off grades were used in these calculations and the averages are
the weighted averages for each intercept. Following is the tabulation of
averages as referenced to diamond drill holes.

--------------------------------------------------------------------------
D
DH Meters Cu% Mo% Ag gm/t Au gm/t Cu Eq%
--------------------------------------------------------------------------
#79 247.80 0.340 0.022 2.30 0.129 0.620
--------------------------------------------------------------------------
#77 184.55 0.357 0.016 0.56 0.077 0.599
--------------------------------------------------------------------------
#74 162.60 0.403 0.018 1.46 0.106 0.640
--------------------------------------------------------------------------
#62 50.60 0.386 0.004 0.51 0.015 0.430
--------------------------------------------------------------------------
#72 160.30 0.207 0.007 0.40 0.097 0.326
--------------------------------------------------------------------------
#61/72 137.15 0.249 less 0.56 0.013 0.258
than
0.001
--------------------------------------------------------------------------
#70 75.59 0.240 0.004 1.02 0.413 0.480
--------------------------------------------------------------------------
#55 17.30 0.760 less 1.86 less 0.760
than than
0.001 0.1
138.00 0.510 0.007 2.38 0.089 0.640
--------------------------------------------------------------------------
#69A 39.62 0.354 0.004 1.62 0.014 0.410
30.63 0.409 0.006 0.44 0.023 0.480
165.35 0.358 0.017 1.14 0.054 0.560
--------------------------------------------------------------------------
#59 76.20 0.318 0.008 0.44 less 0.399
than
0.1
--------------------------------------------------------------------------
#60A 34.74 0.405 0.021 0.68 0.067 0.658
--------------------------------------------------------------------------
#71 29.72 0.415 0.014 0.31 0.370 0.636
--------------------------------------------------------------------------
#63 9.20 0.680 0.017 8.56 0.396 1.099
--------------------------------------------------------------------------

The following values were used in calculating copper equivalent
percentages:

Gold (US) $800/oz.

Silver (US) $12/oz.

Cu (US) $2.80/lb.

Moly (US) $28.00/lb.

For these averages, metallurgical recoveries and smelter returns are
considered to be 100%.

For the East Zone, assuming a strike length of 450m, intercept widths as
shown in the above table and a plunge depth of 300m, this volume of
material would represent in excess of 34,000,000 tonnes at a specific
gravity of 2.8 with average grades ranging from 0.36-0.44% Cu,
0.009-0.011% Mo, 1.40-1.70 Ag gm/t and 0.11-0.13 Au gm/t for a Cu Eq of
0.51-0.62%.

Assays were completed by Acme Analytical Laboratories (ISO 9001
Accredited Co.) Vancouver, using Aqua-Regia (HCL - HNO3 - H20) digestion
to 100ml, analyzed by ICP-ES, Ag and Au by fire assay from 1 A.T. sample. These
volume calculations are "conceptual in nature" and do not represent a
resource which would comply under disclosure regulations of National
Policy 43-101 and it is uncertain if further exploration will result in
the discovery of mineral resource.

The information is therefore being disclosed only as an indication of the
exploration potential of the property.

Management is extremely pleased that the 2007 diamond drilling program
has substantially advanced the Property towards the objective of
establishing a large copper-molybdenum-gold-silver porphyry deposit.

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

Additional and more detailed information pertaining to the Eaglehead
Property and these zones may be obtained on the Company's website
www.carmaxex.com.

ERNESTS PETERS, PRESIDENT/DIRECTOR

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

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

Contacts:
Carmax Explorations Ltd.
Ernests Peters
President/Director
(604) 408-2212 or Toll Free: 1-888-408-2212
(604) 689-4143 (FAX)
Website: www.carmaxex.com

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