Last $0.09 Change 0 (0%) Volume 24,009 Yr High $0.34 Yr Low $0.08 Shares Out 25,000,000 Market Cap $2,250,000 Website www.foxgold.ca Company Page Recent News Diversify in Gold & Natural Gas Cash Flow Running Fox Resources: RUN (TSXV), RFXRF (OTC) Cash Flow Small Cap, Drilling Another Deep Alberta Natural Gas Well Summary: Running Fox is a debt-free small cap company producing and drilling for oil and natural gas in Alberta. It also owns 50% of a high-grade gold project in British Columbia. New projects are being reviewed although there is no assurance that any new transaction will occur. Cash Flow: Currently approximately $150,000 - $200,000 gross per month coming in from natural gas production, fluctuating with natural gas prices. We are also working on new producing acquisitions. Many people are interested in the high-grade Brett Gold Project now that gold is $600+ per ounce. Running Fox is debt-free, with funds on hand for drilling further wells. Drillbit Now Turning : Another Deep Gas Well in WestCentral Alberta: Running Fox and its partners are currently drilling a deep well close to the Alberta/BC border. Large gas target on 3D seismic. Flow possible of 5 to 15 Mmcf per day. The goal is to complete in the productive Wabamun formation, with a secondary zones of interest in Cadotte and the Charlie Lake formation (sweet natural gas). Infrastructure is comprehensive in the area, with natural gas sales lines in the vicinity, and the project also has extra acreage. This new project augments Running Fox’s plan to drill lower-risk and high reward natural gas wells and includes further follow-on drilling opportunities. Running Fox has prepaid drilling costs on this well, with Precision Drilling Rig #645 drilling ahead. This Project is west of Edmonton and north of our Pincher Creek Project with excellent road access. Running Fox's Alberta Natural Gas Production in SouthWest Alberta (interest in 28 Sections of the well-knownn Pincher Creek Gas Field, 17,500 acres): The first well in the Project is a horizontal well and has been drilled and completed. The well is a down-spacing well, with a remaining recoverable resource base between 30 billion cubic feet and 45 billion cubic feet natural gas, as estimated by reservoir engineers of the operator of the Project. Overall, a very successful well with huge reserve value, generally companies drill several wells to get a large resource base like this so very strong enterprise values based on the first Section alone. The Company plans to drill and complete further wells this spring and summer on its Pincher Creek Gas Field Project which covers 28 Sections (28 Square Miles) with numerous 3D seismic defined downspacing drill targets, several development targets, recompletion opportunities, and exploration targets. Gross gas sales revenue for Running Fox’s interest for 11 days in December was $135,000. With lower gas prices in January gas sales revenue for Running Fox’s interest was $203,000, with similar revenue for February and for March and April. When gas prices are higher, there will be better cash flow. These are very long-life wells with a productive capacity of over 40 years, during which gas prices will rise significantly. Further wells will add to the project's value, especially some inexpensive Blairmore frac completions for sweet gas and 38 degree API oil. That prospective Blairmore zone is under all of our 28 Sections of land in SouthWest Alberta. Our Pincher Creek Gas Field project is located close to the Montana, U.S. border. New Northeast BC Natural Gas Project: Running Fox is negotiating a leasehold participation agreement with a private Alberta oil and gas producer which holds operatorship over a prospective natural gas leasehold project located in Northeastern BC, near the Northwest Territory border. The project encompasses numerous Sections and drilling prospects. The location is confidential at this time for prudent competitive reasons, but will be disclosed after suitable agreements and AMI’s are entered into. Wells in this area can be very prolific producers and consideration is being given to drilling the first well this summer, following full geologic and seismic analysis. The project is located beside a main road and enjoys good infrastructure and access to natural gas sales lines. Primary target is Keg River Reef, but the project has multi-zone gas and oil prospects. High-Grade Gold Development- Brett Gold Project, Okanagan Valley, British Columbia: Running Fox will participate in the 2006 exploration summer season on its 50% owned Brett Gold Project, located in the Okanagan in Southwest BC. Work this season should include confirmatory drilling to follow-up on previous drillhole # RC93-19, which returned a significant intersection of 16.76 metres grading 35.79 grams Au/tonne (approx 50 feet of 1.045 oz Au/ton) including 3.048 metres grading 57.88 grams Au/tonne (1.69 oz Au/ton) and 4.57 metres grading 107.88 grams Au/tonne (3.15 oz Au/ton) within the main shear zone. (see 43-101 Technical and Brett Gold Assessment Reports available at www.foxgold.ca or on www.sedar.com) Complete maps, geochem, and drilling history are available for review/download on the website. The project has significant early stage block calculations on a small portion of one shear zone---- and there are 18 shear/fault zones, running under undrilled geochem zones with good gold values over large areas, see geochem in Assessment Report. 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 numerous 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 2004 highlights included 10 feet of 1 ounce gold and a 4.3 foot intercept that assayed 5.1 ounces gold. The Brett property hosts epithermal style gold mineralization containing coarse gold and has excellent potential of hosting an economically viable gold deposit. With gold prices rising, the high-grade Brett Gold Project offers significant upside. Industry veterans will be taking notice of our property as the high-grade gold project consolidation in the industry continues. Undervalued, with Strong Upside Potential: In conclusion, Running Fox is a debt-free, small-cap company with big-cap gold and natural gas projects providing leverage to both natural gas and gold prices. Expect both prices to strengthen which will assist in the development of the long-life Alberta projects, and new oil and gas projects currently being reviewed and negotiated in Alberta, Montana, and Texas. Total Shares Outstanding 25 Million, Fully Reporting, Audited Financials on www.sedar.com MineralSTOX Opinion Natural gas is one of the most vital commodities in North American today. The use of natural gas is extensive from heating our homes and businesses to driving turbines in electrical-powered generator plants. A well-run company such as Running Fox will thrive in the coming years as demand exceeds supply. Running Fox has the potential to experience tremendous growth as higher gas prices are a result of the energy shortfall. Running Fox is a small-cap company with big-cap gold and natural gas projects providing leverage to both natural gas and gold prices. We expect both prices to strengthen which will assist in the development of the Company’s long-life Alberta projects. Operationally, steady natural gas sales revenue is adding to cash on hand, and as Running Fox is debt free it will be drilling high reward natural gas well from cash flow. Additionally, with gold prices rising and reaching a 25 year high (over $600.00 per ounce), the high-grade Brett Gold Project offers significant upside. In our opinion, Running Fox’s market cap is much undervalued and simply needs exposure to a broader audience of investors. Our recommendation: be invested when they complete their current deep gas well. Visit the Running Fox website at www.foxgold.ca for further information.

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