CMX Chilean Metals Inc

Ernest S. Peters, President and Director of Carmax Explorations Ltd. ("Carmax") (TSX VENTURE: CMX) announces that it has released its financial statements for the three months ended October 31, 2008. The Company reported a net loss for the three months ended October 31, 2008 of $129,271 (loss per share $0.00) compared to a net loss of $148,343 (being a loss of $0.00 per share) for the three months ended October 31, 2007. As at October 31, 2008 the Company had working capital surplus of $1,898,963.

The full text of the audited financial statements is included with the Company's Quarterly Report posted on the SEDAR website at www.sedar.com.

On behalf of the Board of Directors

ERNEST PETERS, PRESIDENT/DIRECTOR

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

Contacts: Carmax Explorations Ltd. Ernest Peters (604) 219-2799 (604) 689-4143 (FAX) Website: www.carmax.com