RUNNING FOX RESOURCE CORP. - Corporate Update, Drilling Another Deep Alberta Natural Gas Well

3/23/2006, 6:54 PM (Source: GlobeNewswire)

Frankfurt "C8Q"
Thursday March 23, 2006
Vancouver, British Columbia

Steven Schurman, U.S.Professional Geologist, CEO, Director, reports:

Drillbit Turning in Westcentral Alberta
Running Fox and its partners are currently drilling a 4,000 metre
well on the prospect at Section 18, Township 63, Range 4, West of the
6th Meridian, close to the Alberta/BC border. With drilling by
Precision Drilling Rig # 645, the goal is to complete in the
productive Wabamun formation, with a secondary zone of interest in
the Charlie Lake formation (sweet natural gas). Infrastructure is
comprehensive in the area, with natural gas sales lines in the
vicinity. 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.

New Northeast BC Natural Gas Project
Running Fox is negotiating a leasehold participation agreement with a
private Calgary 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 revealed 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.

Pincher Creek Natural Gas Production in Southwest Alberta
Running Fox has been producing natural gas continuously since
December 20, 2005, with gross gas sales revenue for Running Fox's
interest for 11 days in December of $135,000.
January gas sales revenue for Running Fox's interest was $203,000,
with similar revenue for February. The Company plans to drill and
recomplete further wells this spring and summer on the project and
awaits higher gas prices for this long life producing project.

High-Grade Gold Development- Brett Gold Project
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
(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
Assessment Reports available at or on SEDAR) Complete
maps, geochem, and drilling history are on the website.

Visit the Running Fox website (updating in progress) at for further information.
Running Fox was recently listed on the Frankfurt Stock Exchange
symbol "C8Q"

The Company relies on legislation applicable to forward looking
statements, and seeks safe harbour.

For further information please contact Steve Schurman (303) 619-5324
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