The Whiskeyjack Creek property of Carmax Explorations Ltd. is located in Cairo Township in the Larder Lake mining division of Ontario and consists of a total of 83 contiguous units in the Matachewan Gold Belt area. The property is situated approximately 5 km east of the town of Matachewan and is easily accessable via provincial highways #65 and #66.

During 2003 the company conducted resistivity and induced polarization surveys on the property resulting in the identification of twenty-four (24) drill hole target zones including eleven (11) high priority targets. Based upon these results a Phase I diamond drilling program consisting of 2000 meters of diamond drilling was recommended on a number of high priority targets. Exploration work conducted by previous owners over the past 50 years has returned some spectacular gold assays including 0.17, 0.42 and 1.89 ounces of gold/ton.

In the spring of 2004 a total of a total of ten (10) diamond drill holes were completed on previously identified target zones established via time domain spectral IP/resistivity geophysical surveys. None of the Phase I diamond drill holes encountered intersections containing commercial grade values. One hole (D.D. hole #8) which was drilled in close proximity to where previous trenching work had returned values between 0.12 to 1.89 oz. Gold per ton did encounter anomalous values.

The Company’s geological consultants have reviewed all data and have recommended that the property still has considerable merit. Due to ongoing exploration activity and development in the immediate area by other companies consideration may be given to entering into a joint venture agreement on the Whiskeyjack Property.

It has also been confirmed that the majority of the Company’s claims lie within the Lake Timiskaming structural zone, a geological trend in which the Kimberlite pipes of the Attawapiskat, Kirkland Lake and New Liskeard areas are located. Results from recent work conducted by the Ontario Ministry of Mines throughout the area in which the Whiskeyjack Creek Property is located indicate the possibility that magnetic geophysical targets may occur on the Company’s claims. These targets may provide the opportunity for the discovery of Kimberlite pipes.