Running Fox Resource Corp. TSX-V Approves High Grade Gold Project-SEE DRILL TABLE BELOW by 24hgold

Keywords : Debt | Gold | Market | Silver |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2011) - Steven Schurman, P. Geol (US), CEO, Director, reports:

Running Fox Resources (News - Market indication)(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 #	Grade	from	to	length	from	to	length	Gold grade gms Au/mt
number	oz Au/t	feet	feet	feet	meters	meters	in meters	Gold grade gms Au/mt
86-04	0.253	34.51	39.01	4.49	10.52	11.89	1.37	8.66
86-09	0.290	154.99	160.01	5.02	47.24	48.77	1.53	9.93
86-10	0.125	146.00	150.98	4.99	44.50	46.02	1.52	4.28
86-15	0.284	135.01	141.01	6.00	41.15	42.98	1.83	9.73
86-16	0.175	185.99	197.01	11.02	56.69	60.05	3.36	5.99
87-29	0.166	137.80	141.08	3.28	42.00	43.00	1.00	5.68
87-29	0.737	149.77	178.05	28.28	45.65	54.27	8.62	25.24
87-29	0.274	170.90	178.00	7.10	52.09	54.25	2.16	9.38
87-30	0.144	263.00	273.00	10.00	80.16	83.21	3.05	4.93
87-30	0.127	296.26	301.51	5.25	90.30	91.90	1.60	4.35
87-30	0.092	311.90	329.00	17.10	95.07	100.28	5.21	3.15

87-36	0.063	149.93	175.03	25.10	45.70	53.35	7.65	2.16

87-37	0.104	212.90	234.60	21.70	64.89	71.51	6.61	3.56
87-42	0.991	256.70	265.70	9.00	78.24	80.99	2.74	33.94
87-45	0.169	216.50	221.50	5.00	65.99	67.51	1.52	5.79
87-45	0.125	226.40	232.90	6.50	69.01	70.99	1.98	4.28
87-46	0.119	93.40	98.10	4.70	28.47	29.90	1.43	4.08
87-46	0.107	105.00	119.80	14.80	32.00	36.52	4.51	3.66
87-46	0.074	137.96	188.98	51.02	42.05	57.60	15.55	2.53
87-46	0.111	170.90	186.00	15.10	52.09	56.69	4.60	3.80
87-46	0.133	259.19	279.04	19.85	79.00	85.05	6.05	4.55
87-47	0.110	221.10	226.70	5.60	67.39	69.10	1.71	3.77
87-47	0.980	245.10	248.10	3.00	74.71	75.62	0.91	33.56
88-51	0.540	125.00	132.20	7.20	38.10	40.29	2.19	18.49
88-61	0.082	148.29	153.22	4.92	45.20	46.70	1.50	2.81
88-61	0.278	233.90	236.90	3.00	71.29	72.21	0.91	9.52

88-62	0.119	356.60	366.50	9.90	108.69	111.71	3.02	4.08
88-67	0.091	332.19	337.11	4.92	101.25	102.75	1.50	3.12
88-69	0.107	373.40	378.80	5.40	113.81	115.46	1.65	3.66
88-73	0.168	505.25	509.84	4.59	154.00	155.40	1.40	5.75
89-76	0.118	395.01	401.05	6.04	120.40	122.24	1.84	4.04
89-78	0.041	235.89	257.48	21.59	71.90	78.48	6.58	1.40
89-80	0.211	262.93	268.01	5.09	80.14	81.69	1.55	7.23
89-80	0.197	322.87	325.69	2.82	98.41	99.27	0.86	6.75
89-80	0.202	343.34	347.83	4.49	104.65	106.02	1.37	6.92
89-82	0.185	323.00	332.41	9.42	98.45	101.32	2.87	6.34
89-89	0.720	615.72	618.01	2.30	187.67	188.37	0.70	24.66
89-89	0.280	611.61	618.01	6.40	186.42	188.37	1.95	9.59
89-91	1.256	441.31	445.41	4.10	134.51	135.76	1.25	43.01
89-91	0.726	441.31	450.66	9.35	134.51	137.36	2.85	24.86

89-92	1.590	427.00	430.74	3.74	130.15	131.29	1.14	54.45
89-97	0.224	462.60	470.90	8.30	141.00	143.53	2.53	7.67
R88-02	0.076	102.03	136.98	34.94	31.10	41.75	10.65	2.60
R88-02	0.049	247.00	332.00	85.00	75.29	101.19	25.91	1.68
R88-03	0.100	73.00	77.92	4.92	22.25	23.75	1.50	3.42
R88-04	0.027	19.72	34.94	15.22	6.01	10.65	4.64	0.92
R88-07	0.503	88.90	104.00	15.10	27.10	31.70	4.60	17.23
R88-09	0.089	52.99	58.07	5.09	16.15	17.70	1.55	3.05
R88-15	0.100	145.01	155.02	10.01	44.20	47.25	3.05	3.42
R88-15	0.101	149.93	155.02	5.09	45.70	47.25	1.55	3.46
R88-15	0.108	274.93	284.94	10.01	83.80	86.85	3.05	3.70

R88-17	0.224	55.00	80.00	25.00	16.76	24.38	7.62	7.67
R88-17	0.462	385.01	405.02	20.01	117.35	123.45	6.10	15.82
R88-16	0.074	75.00	185.00	110.00	22.86	56.39	33.53	2.53
R88-18	0.165	221.46	225.07	3.61	67.50	68.60	1.10	5.65
R88-18	0.228	245.08	254.92	9.84	74.70	77.70	3.00	7.81
R88-18	0.088	294.95	304.95	10.01	89.90	92.95	3.05	3.01
R88-19	0.270	135.00	140.00	5.00	41.15	42.67	1.52	9.25
R88-19	0.113	135.01	149.93	14.93	41.15	45.70	4.55	3.87
R88-19	0.110	195.05	199.97	4.92	59.45	60.95	1.50	3.77
R88-21	0.124	50.03	54.95	4.92	15.25	16.75	1.50	4.25
R88-22	0.244	314.96	330.05	15.09	96.00	100.60	4.60	8.36
R88-22	0.084	315.00	406.00	91.00	96.01	123.75	27.74	2.88
R88-22	0.106	364.17	383.86	19.69	111.00	117.00	6.00	3.63
R88-23	0.042	183.73	209.97	26.25	56.00	64.00	8.00	1.44
R88-24	0.097	34.94	40.03	5.09	10.65	12.20	1.55	3.32
R88-24	0.087	60.04	64.96	4.92	18.30	19.80	1.50	2.98
R88-24	0.030	98.43	144.36	45.93	30.00	44.00	14.00	1.03
R88-24	0.054	225.00	320.00	95.00	68.58	97.54	28.96	1.85
R88-24	0.102	260.01	264.93	4.92	79.25	80.75	1.50	3.49
R88-24	0.072	274.93	280.02	5.09	83.80	85.35	1.55	2.47
R88-24	0.089	280.02	284.94	4.92	85.35	86.85	1.50	3.05
R88-24	0.227	288.71	291.99	3.28	88.00	89.00	1.00	7.77
R88-24	0.112	305.12	310.04	4.92	93.00	94.50	1.50	3.84
R88-25	0.050	324.80	360.89	36.09	99.00	110.00	11.00	1.71
R88-30	0.124	80.05	84.97	4.92	24.40	25.90	1.50	4.25
R88-31	0.058	62.34	101.71	39.37	19.00	31.00	12.00	1.99
R88-32	0.136	65.00	120.00	55.00	19.81	36.58	16.76	4.66
R88-32	0.171	70.05	74.97	4.92	21.35	22.85	1.50	5.86
R88-33	0.113	20.01	24.93	4.92	6.10	7.60	1.50	3.87
R88-33	0.050	104.99	129.92	24.93	32.00	39.60	7.60	1.71
R88-33	0.088	399.93	405.02	5.09	121.9	123.45	1.55	3.01
R88-34	0.083	400.26	410.10	9.84	122.00	125.00	3.00	2.84
R93-11	0.197	130.00	140.00	10.00	39.62	42.67	3.05	6.75
R93-12	1.840	115.00	120.00	5.00	35.05	36.58	1.52	63.01
R93-12	1.210	140.00	145.00	5.00	42.67	44.20	1.52	41.44
R93-12	0.382	130.00	150.00	20.00	39.62	45.72	6.10	13.09
R93-12	0.208	200.00	210.00	10.00	60.96	64.01	3.05	7.12
R93-12	0.113	175.00	210.00	35.00	53.34	64.01	10.67	3.87
R93-16	0.692	120.00	125.00	5.00	36.58	38.10	1.52	23.70
R93-17	0.408	105.00	110.00	5.00	32.00	33.53	1.52	13.97
R93-17	2.750	125.00	130.00	5.00	38.10	39.62	1.52	94.18
R93-17	1.640	125.00	135.00	10.00	38.10	41.15	3.05	56.16
R93-19	1.045	100.00	155.00	55.00	30.48	47.24	16.76	35.79
R93-19	0.283	175.00	180.00	5.00	53.34	54.86	1.52	9.69

87-TR4	1.840	6.40	10.99	4.59	1.95	3.35	1.40	63.01
87-TR21	2.052	0.00	7.87	7.87	0.00	2.40	2.40	70.27
87-TR21	0.372	0.00	7.87	7.87	0.00	2.40	2.40	12.74
87-TR22	0.110	37.07	54.13	17.06	11.30	16.50	5.20	3.77
93-TR770	0.370	0.00	18.24	18.24	0.00	5.56	5.56	12.67
93-TR946	0.980	10.89	13.52	2.62	3.32	4.12	0.80	33.56
93-TR957	2.650	19.23	20.77	1.54	5.86	6.33	0.47	90.75
93-TR957	0.696	18.57	24.70	6.14	5.66	7.53	1.87	23.84
93-TR988	0.549	54.49	57.28	2.79	16.61	17.46	0.85	18.80

2004 Program

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.

For more information, please contact

Running Fox Resource Corp.
Steven Schurman, P. Geol (US)
CEO, Director
1 303 619 5234 or 604 725 8868
www.foxgold.ca

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