Running Fox Initiates Diamond Drill Program at Brett Gold Property

VANCOUVER, B.C. August 26, 2004 -- Vancouver, BC, Running Fox Resource Corp. (TSXV: RUN; OTC.PK: RFXRF)

Steven Schurman, CEO, Professional Geologist reports:
The initial diamond drilling portion of the 2004 Development Program on the Brett Gold Project has begun. The Project covers 17.5 square kilometres, with extensive exploration work totaling more that $3,500,000, including 157 drill holes, mostly on the Bonanza Zone which is approx. 700 feet of the 4,500 foot Main Shear Zone (traced strike length).

As reported in the independent NP 43-101 Technical Report (available at www.foxgold.ca) "The last hole drilled on the property Hole 93-19, a reverse circulation hole, returned an intersection of 16.76m grading 35.79 gms Au/tonne (55 feet grading 1.045 oz Au/ton) including 3.048 m grading 57.88 gms Au/tonne (1.69 oz Au/ton) and 4.57 m grading 107.88 gms Au/tonne (3.15 oz Au/ton) within the Main Shear."

In 1996 a bulk sample, was shipped to the Cominco Smelter in Trail, BC and returned an average net recovered grade of 0.82 ounces per ton of gold and 2.25 ounces per ton of silver.

There are currently three gold mineralized shears/faults, and the Main Shear Zone is the only shear which has been explored significantly. Overall there are five mineralized gold zones identified on the Brett Gold Project, with an additional untested 25 gold anomalies.

The initial 14 hole drill program of approximately 7,600 feet is designed to test the new geological interpretation of the high grade gold mineralization discovered by previous operators.

Holes are spaced at wide intervals along 1300 meters of the Main Shear and on a parallel shear located 500 meters to the east. The main focus of the drilling is to test for high grade gold at the intersection of horizontal tuffaceous beds and the vertical shears. In addition several areas are being drilled to check low grade assays where visible gold was observed in the drill core, and two holes are being drilled in order to confirm the number of potentially gold bearing horizontal tuffaceous beds close to surface and to the existing underground workings.

Running Fox and Mosquito Consolidated Gold Mines are actively developing the Brett Gold Project, with further details regarding the 2004 Program to follow.

On behalf of the Board of Directors, Steven Schurman, CEO, Professional Geologist

About Running Fox Resource Corp.
Running Fox Resource Corp., is a Vancouver, Canada based resource exploration company which is developing the Brett Project in British Columbia, Canada. The Company reviews other Projects and determines their potential to be advanced with rational amounts of development, and for their ability to add value to shareholder equity and to the corporate entity. Certain significant projects are under review. As reported in the independent NP 43-101 Technical Report (available at www.foxgold.ca) "The last hole drilled on the property Hole 93-19, a reverse circulation hole, returned an intersection of 16.76m grading 35.79 gms Au/tonne (1.045 oz Au/ton) including 3.048 m grading 57.88 gms Au/tonne (1.69 oz Au/ton) and 4.57 m grading 107.88 gms Au/tonne (3.15 oz Au/ton) within the Main Shear Zone."

The Brett Gold Property has 157 drill holes, mostly on the Bonanza Zone which covers only 700 feet of the 4,500 foot Main Shear Zone (traced strike length). To date there are five mineralized gold zones identified on the Brett Gold Property, with an additional untested 25 gold anomalies.

SOURCE: Running Fox Resource Corp.

Running Fox is the featured Gold Stock on: Investorideas.com industry research pages for investors following Gold Stocks, Mining Stocks, Precious Metals Stocks, Mineral Exploration/Development and Industry Research at: http://www.investorideas.com/Research/Industries/Gold.asp (# 3 Yahoo Placement for Gold stocks)

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Contact:
ECON Corporate Services 1.866.322.5990
Trevor Ruehs truehs@investorideas.com

Running Fox Resource Corp.    
Vancouver Office 604.725.8868 or Gord Zelko, Corporate Development 1.866.580.2032



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