Copper Fox Completes Top-Up Investmentin Carmax Mining Corp.

Immediately prior to the completion of the Top-up Subscription:

a. Copper Fox had beneficial ownership and control, through Northern Fox,
of 23,386,078 common shares (the „Existing Shares”) of Carmax, or
approximately 42.09 % of Carmax's then issued and outstanding Shares on
an undiluted basis;

b. Copper Fox also had beneficial ownership and control, through Northern
Fox, over 23,386,078 common share purchase warrants (the „Existing
Warrants”) of Carmax, each Existing Warrant entitling Copper Fox to
purchase one Share of Carmax at an exercise price of $0.075 on or before
September 24, 2016; and

c. the Exiting Warrants together with the Existing Shares represented
approximately 59.24% of the then issued and outstanding Shares of
Carmax, calculated on a partially-diluted basis assuming the exercise of
all of the Existing Warrants, but with no effect being given to any
other outstanding warrants or options of Carmax.