VANCOUVER, BRITISH COLUMBIA - February 23, 2011 (Investorideas.com newswire) Steven Schurman, P. Geol (US), CEO, Director, reports:
Running Fox Resources (TSX VENTURE:RUN; PINK SHEETS:RFXRF; FRANKFURT:C8Q) is pleased to report that it has received formal Toronto Stock Exchange - Venture approval for its agreement to acquire the remaining 50% of the its high grade Brett Gold Project, Running Fox will then own 100%.
The Teck Cominco smelter receipts for the net recovered grades for the whole bulk sample proved ore averaged 28 grams per tonne gold plus 64 grams per tonne silver.
A review of drilling results at the Brett Gold Project includes 16 metres of 35 grams per ton gold.
Brett Gold Property - from 43-101 Technical Report Table of Significant Intersections selected intercepts all over minimum width/grade, Gold values only, Silver To Be Determined
| Hole # number | Grade oz Au/t | from feet | to feet | length feet | from meters | to meters | length in meters | Gold grade gms Au/mt |
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| 86-04 | 0.253 | 34.51 | 39.01 | 4.49 | 10.52 | 11.89 | 1.37 | 8.66 |
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| 86-09 | 0.290 | 154.99 | 160.01 | 5.02 | 47.24 | 48.77 | 1.53 | 9.93 |
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| 86-10 | 0.125 | 146.00 | 150.98 | 4.99 | 44.50 | 46.02 | 1.52 | 4.28 |
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| 86-15 | 0.284 | 135.01 | 141.01 | 6.00 | 41.15 | 42.98 | 1.83 | 9.73 |
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| 86-16 | 0.175 | 185.99 | 197.01 | 11.02 | 56.69 | 60.05 | 3.36 | 5.99 |
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| 87-29 | 0.166 | 137.80 | 141.08 | 3.28 | 42.00 | 43.00 | 1.00 | 5.68 |
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| 87-29 | 0.737 | 149.77 | 178.05 | 28.28 | 45.65 | 54.27 | 8.62 | 25.24 |
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| 87-29 | 0.274 | 170.90 | 178.00 | 7.10 | 52.09 | 54.25 | 2.16 | 9.38 |
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| 87-30 | 0.144 | 263.00 | 273.00 | 10.00 | 80.16 | 83.21 | 3.05 | 4.93 |
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| 87-30 | 0.127 | 296.26 | 301.51 | 5.25 | 90.30 | 91.90 | 1.60 | 4.35 |
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| 87-30 | 0.092 | 311.90 | 329.00 | 17.10 | 95.07 | 100.28 | 5.21 | 3.15 |
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| 87-36 | 0.063 | 149.93 | 175.03 | 25.10 | 45.70 | 53.35 | 7.65 | 2.16 |
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| 87-37 | 0.104 | 212.90 | 234.60 | 21.70 | 64.89 | 71.51 | 6.61 | 3.56 |
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| 87-42 | 0.991 | 256.70 | 265.70 | 9.00 | 78.24 | 80.99 | 2.74 | 33.94 |
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| 87-45 | 0.169 | 216.50 | 221.50 | 5.00 | 65.99 | 67.51 | 1.52 | 5.79 |
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| 87-45 | 0.125 | 226.40 | 232.90 | 6.50 | 69.01 | 70.99 | 1.98 | 4.28 |
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| 7-46 | 0.119 | 93.40 | 98.10 | 4.70 | 28.47 | 29.90 | 1.43 | 4.08 |
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| 87-46 | 0.107 | 105.00 | 119.80 | 14.80 | 32.00 | 36.52 | 4.51 | 3.66 |
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| 87-46 | 0.074 | 137.96 | 188.98 | 51.02 | 42.05 | 57.60 | 15.55 | 2.53 |
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| 87-46 | 0.111 | 170.90 | 186.00 | 15.10 | 52.09 | 56.69 | 4.60 | 3.80 |
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| 87-46 | 0.133 | 259.19 | 279.04 | 19.85 | 79.00 | 85.05 | 6.05 | 4.55 |
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| 87-47 | 0.110 | 221.10 | 226.70 | 5.60 | 67.39 | 69.10 | 1.71 | 3.77 |
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| 87-47 | 0.980 | 245.10 | 248.10 | 3.00 | 74.71 | 75.62 | 0.91 | 33.56 |
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| 88-51 | 0.540 | 125.00 | 132.20 | 7.20 | 38.10 | 40.29 | 2.19 | 18.49 |
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| 88-61 | 0.082 | 148.29 | 153.22 | 4.92 | 45.20 | 46.70 | 1.50 | 2.81 |
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| 88-61 | 0.278 | 233.90 | 236.90 | 3.00 | 71.29 | 72.21 | 0.91 | 9.52 |
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| 88-62 | 0.119 | 356.60 | 366.50 | 9.90 | 108.69 | 111.71 | 3.02 | 4.08 |
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| 88-67 | 0.091 | 332.19 | 337.11 | 4.92 | 101.25 | 102.75 | 1.50 | 3.12 |
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| 88-69 | 0.107 | 373.40 | 378.80 | 5.40 | 113.81 | 115.46 | 1.65 | 3.66 |
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| 88-73 | 0.168 | 505.25 | 509.84 | 4.59 | 154.00 | 155.40 | 1.40 | 5.75 |
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| 89-76 | 0.118 | 395.01 | 401.05 | 6.04 | 120.40 | 122.24 | 1.84 | 4.04 |
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| 89-78 | 0.041 | 235.89 | 257.48 | 21.59 | 71.90 | 78.48 | 6.58 | 1.40 |
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| 89-80 | 0.211 | 262.93 | 268.01 | 5.09 | 80.14 | 81.69 | 1.55 | 7.23 |
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| 89-80 | 0.197 | 322.87 | 325.69 | 2.82 | 98.41 | 99.27 | 0.86 | 6.75 |
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| 89-80 | 0.202 | 343.34 | 347.83 | 4.49 | 104.65 | 106.02 | 1.37 | 6.92 |
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| 89-82 | 0.185 | 323.00 | 332.41 | 9.42 | 98.45 | 101.32 | 2.87 | 6.34 |
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| 89-89 | 0.720 | 615.72 | 618.01 | 2.30 | 187.67 | 188.37 | 0.70 | 24.66 |
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| 89-89 | 0.280 | 611.61 | 618.01 | 6.40 | 186.42 | 188.37 | 1.95 | 9.59 |
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| 89-91 | 1.256 | 441.31 | 445.41 | 4.10 | 134.51 | 135.76 | 1.25 | 43.01 |
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| 89-91 | 0.726 | 441.31 | 450.66 | 9.35 | 134.51 | 137.36 | 2.85 | 24.86 |
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| 89-92 | 1.590 | 427.00 | 430.74 | 3.74 | 130.15 | 131.29 | 1.14 | 54.45 |
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| 89-97 | 0.224 | 462.60 | 470.90 | 8.30 | 141.00 | 143.53 | 2.53 | 7.67 |
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| R88-02 | 0.076 | 102.03 | 136.98 | 34.94 | 31.10 | 41.75 | 10.65 | 2.60 |
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| R88-02 | 0.049 | 247.00 | 332.00 | 85.00 | 75.29 | 101.19 | 25.91 | 1.68 |
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| R88-03 | 0.100 | 73.00 | 77.92 | 4.92 | 22.25 | 23.75 | 1.50 | 3.42 |
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| R88-04 | 0.027 | 19.72 | 34.94 | 15.22 | 6.01 | 10.65 | 4.64 | 0.92 |
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| R88-07 | 0.503 | 88.90 | 104.00 | 15.10 | 27.10 | 31.70 | 4.60 | 17.23 |
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| R88-09 | 0.089 | 52.99 | 58.07 | 5.09 | 16.15 | 17.70 | 1.55 | 3.05 |
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| R88-15 | 0.100 | 145.01 | 155.02 | 10.01 | 44.20 | 47.25 | 3.05 | 3.42 |
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| R88-15 | 0.101 | 149.93 | 155.02 | 5.09 | 45.70 | 47.25 | 1.55 | 3.46 |
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| R88-15 | 0.108 | 274.93 | 284.94 | 10.01 | 83.80 | 86.85 | 3.05 | 3.70 |
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| R88-17 | 0.224 | 55.00 | 80.00 | 25.00 | 16.76 | 24.38 | 7.62 | 7.67 |
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| R88-17 | 0.462 | 385.01 | 405.02 | 20.01 | 117.35 | 123.45 | 6.10 | 15.82 |
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| R88-16 | 0.074 | 75.00 | 185.00 | 110.00 | 22.86 | 56.39 | 33.53 | 2.53 |
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| R88-18 | 0.165 | 221.46 | 225.07 | 3.61 | 67.50 | 68.60 | 1.10 | 5.65 |
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| R88-18 | 0.228 | 245.08 | 254.92 | 9.84 | 74.70 | 77.70 | 3.00 | 7.81 |
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| R88-18 | 0.088 | 294.95 | 304.95 | 10.01 | 89.90 | 92.95 | 3.05 | 3.01 |
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| R88-19 | 0.270 | 135.00 | 140.00 | 5.00 | 41.15 | 42.67 | 1.52 | 9.25 |
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| R88-19 | 0.113 | 135.01 | 149.93 | 14.93 | 41.15 | 45.70 | 4.55 | 3.87 |
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| R88-19 | 0.110 | 195.05 | 199.97 | 4.92 | 59.45 | 60.95 | 1.50 | 3.77 |
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| R88-21 | 0.124 | 50.03 | 54.95 | 4.92 | 15.25 | 16.75 | 1.50 | 4.25 |
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| R88-22 | 0.244 | 314.96 | 330.05 | 15.09 | 96.00 | 100.60 | 4.60 | 8.36 |
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| R88-22 | 0.084 | 315.00 | 406.00 | 91.00 | 96.01 | 123.75 | 27.74 | 2.88 |
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| R88-22 | 0.106 | 364.17 | 383.86 | 19.69 | 111.00 | 117.00 | 6.00 | 3.63 |
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| R88-23 | 0.042 | 183.73 | 209.97 | 26.25 | 56.00 | 64.00 | 8.00 | 1.44 |
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| R88-24 | 0.097 | 34.94 | 40.03 | 5.09 | 10.65 | 12.20 | 1.55 | 3.32 |
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| R88-24 | 0.087 | 60.04 | 64.96 | 4.92 | 18.30 | 19.80 | 1.50 | 2.98 |
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| R88-24 | 0.030 | 98.43 | 144.36 | 45.93 | 30.00 | 44.00 | 14.00 | 1.03 |
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| R88-24 | 0.054 | 225.00 | 320.00 | 95.00 | 68.58 | 97.54 | 28.96 | 1.85 |
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| R88-24 | 0.102 | 260.01 | 264.93 | 4.92 | 79.25 | 80.75 | 1.50 | 3.49 |
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| R88-24 | 0.072 | 274.93 | 280.02 | 5.09 | 83.80 | 85.35 | 1.55 | 2.47 |
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| R88-24 | 0.089 | 280.02 | 284.94 | 4.92 | 85.35 | 86.85 | 1.50 | 3.05 |
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| R88-24 | 0.227 | 288.71 | 291.99 | 3.28 | 88.00 | 89.00 | 1.00 | 7.77 |
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| R88-24 | 0.112 | 305.12 | 310.04 | 4.92 | 93.00 | 94.50 | 1.50 | 3.84 |
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| R88-25 | 0.050 | 324.80 | 360.89 | 36.09 | 99.00 | 110.00 | 11.00 | 1.71 |
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| R88-30 | 0.124 | 80.05 | 84.97 | 4.92 | 24.40 | 25.90 | 1.50 | 4.25 |
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| R88-31 | 0.058 | 62.34 | 101.71 | 39.37 | 19.00 | 31.00 | 12.00 | 1.99 |
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| R88-32 | 0.136 | 65.00 | 120.00 | 55.00 | 19.81 | 36.58 | 16.76 | 4.66 |
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| R88-32 | 0.171 | 70.05 | 74.97 | 4.92 | 21.35 | 22.85 | 1.50 | 5.86 |
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| R88-33 | 0.113 | 20.01 | 24.93 | 4.92 | 6.10 | 7.60 | 1.50 | 3.87 |
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| R88-33 | 0.050 | 104.99 | 129.92 | 24.93 | 32.00 | 39.60 | 7.60 | 1.71 |
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| R88-33 | 0.088 | 399.93 | 405.02 | 5.09 | 121.9 | 123.45 | 1.55 | 3.01 |
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| R88-34 | 0.083 | 400.26 | 410.10 | 9.84 | 122.00 | 125.00 | 3.00 | 2.84 |
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| R93-11 | 0.197 | 130.00 | 140.00 | 10.00 | 39.62 | 42.67 | 3.05 | 6.75 |
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| R93-12 | 1.840 | 115.00 | 120.00 | 5.00 | 35.05 | 36.58 | 1.52 | 63.01 |
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| R93-12 | 1.210 | 140.00 | 145.00 | 5.00 | 42.67 | 44.20 | 1.52 | 41.44 |
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| R93-12 | 0.382 | 130.00 | 150.00 | 20.00 | 39.62 | 45.72 | 6.10 | 13.09 |
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| R93-12 | 0.208 | 200.00 | 210.00 | 10.00 | 60.96 | 64.01 | 3.05 | 7.12 |
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| R93-12 | 0.113 | 175.00 | 210.00 | 35.00 | 53.34 | 64.01 | 10.67 | 3.87 |
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| R93-16 | 0.692 | 120.00 | 125.00 | 5.00 | 36.58 | 38.10 | 1.52 | 23.70 |
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| R93-17 | 0.408 | 105.00 | 110.00 | 5.00 | 32.00 | 33.53 | 1.52 | 13.97 |
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| R93-17 | 2.750 | 125.00 | 130.00 | 5.00 | 38.10 | 39.62 | 1.52 | 94.18 |
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| R93-17 | 1.640 | 125.00 | 135.00 | 10.00 | 38.10 | 41.15 | 3.05 | 56.16 |
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| R93-19 | 1.045 | 100.00 | 155.00 | 55.00 | 30.48 | 47.24 | 16.76 | 35.79 |
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| R93-19 | 0.283 | 175.00 | 180.00 | 5.00 | 53.34 | 54.86 | 1.52 | 9.69 |
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| 87-TR4 | 1.840 | 6.40 | 10.99 | 4.59 | 1.95 | 3.35 | 1.40 | 63.01 |
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| 87-TR21 | 2.052 | 0.00 | 7.87 | 7.87 | 0.00 | 2.40 | 2.40 | 70.27 |
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| 87-TR21 | 0.372 | 0.00 | 7.87 | 7.87 | 0.00 | 2.40 | 2.40 | 12.74 |
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| 87-TR22 | 0.110 | 37.07 | 54.13 | 17.06 | 11.30 | 16.50 | 5.20 | 3.77 |
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| 93-TR770 | 0.370 | 0.00 | 18.24 | 18.24 | 0.00 | 5.56 | 5.56 | 12.67 |
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| 93-TR946 | 0.980 | 10.89 | 13.52 | 2.62 | 3.32 | 4.12 | 0.80 | 33.56 |
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| 93-TR957 | 2.650 | 19.23 | 20.77 | 1.54 | 5.86 | 6.33 | 0.47 | 90.75 |
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| 93-TR957 | 0.696 | 18.57 | 24.70 | 6.14 | 5.66 | 7.53 | 1.87 | 23.84 |
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| 93-TR988 | 0.549 | 54.49 | 57.28 | 2.79 | 16.61 | 17.46 | 0.85 | 18.80 |
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In addition to the intercepts in the table above, the 2004 drilling program intersected significant gold bearing intersections in 15 of the 17 holes drilled, notably:
DDH# 04-01 intersected 10.2 meters grading 5.28 grams per ton including 1.6 meters grading 29.6 grams per ton gold, and,
DDH# 04-02 intersected 11.6 meters grading 10.39 grams gold per ton including 3.1 meters grading 34.02 grams per ton gold; and,
Importantly, DDH# 04-12 intercepted 1.3 meters grading 176 grams per ton gold in a new shear zone.
This new zone, located on a tuffaceous bed, is located 53 metres east of the main shear zone and represents a totally new zone as none of the previous drill holes went as far east as this hole. The zone is cut off by several postmineral dikes in the core, possibly indicating the presence of a second parallel shear structure. If so, this would be the first confirmation of bonanza high-grade gold values (greater than one ounce per ton gold) on a parallel shear structure, opening the possibility that similar high-grade zones may be present, along the numerous other shears identified during surface work. The entire strike length of the new shear structure is unexplored as none of the previous drill holes were near its projection.
Also See "Top 40 Gold Intercepts" at http://www.foxgold.ca/images/40holes.jpg
The 2004 soil geochemical survey identified numerous and as yet untested gold in soil anomalies as much as 2,000 meters north of the Main Shear Zone drilling which appear to trend in the same northeast and northwest direction as the gold mineralization found in the shear zones around the Main Shear Zone. Gold mineralization found in a road cut 3,000 meters north of the Main Shear Zone drilling assayed 9.5 grams per ton gold.
Running Fox believes that these untested soil anomalies represent significant exploration targets that are similar in geology and grade of gold mineralization to that found around the Main Shear Zone.
Post transaction, Running Fox will have approx. 49 million shares outstanding.
The Company has recurring cash flow and after recent progress, very little debt.
In addition, the Company owns other assets.
Running Fox will be planning a 2011 exploration campaign at the Brett property that will also include drilling and trenching of soil anomalies, as the prior program opened up large areas for exploration and the development of additional gold bearing zones.
Complete maps, geochem, and drilling history are available for review/download on the Running Fox website.
The project has significant early stage block calculations on a small portion of one shear zone - and there are numerous shear zones, running under large undrilled geochem zones with good gold values over large areas, (see Geochem in Assessment Report).
Following further drilling a new 43-101 Technical Report will be requested that will include all drilling and a qualifying resource calculation.
See the brief 3D Geological and drillhole movie on website www.foxgold.ca.
To view the, 3D image of footwall, please click on the following link: http://media3.marketwire.com/docs/0221run.jpg
Steven Schurman, CEO, Professional Geologist (US), is the named Qualified Person for the technical contents of this news release.
Note: Source for all intercepts are 43-101 Technical Report, and Brett Gold Assessment Report available at www.foxgold.ca and on SEDAR.
On behalf of the Board of Directors: Steven Schurman, P. Geol (US), CEO, Director
The Company relies on legislation applicable to forward looking statements, seeking safe harbour.
Contact:
Steven Schurman, P. Geol (US)
Running Fox Resource Corp.
CEO, Director
1 303 619 5234 or 604 725 8868
www.foxgold.ca
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