Subject: New Alberta Fernie Formation Black Shale Natural Gas Play

RUNNING FOX RESOURCE CORP.
TSX-V "RUN"   OTC "RFXRF"   Frankfurt "C8Q"
 
Subject:  New Alberta Fernie Formation Black Shale Natural Gas Play
 
Thursday October 8, 2009, Steven Schurman, CEO, US Prof. Geologist,
Director, reports:
Further to the Company's news release of July 30, 2009, a new black
shale, natural gas production opportunity appears to be developing in
southwest Alberta where Running Fox has an interest in the 28 square
mile Pincher Creek Natural Gas Project.  Similar to many sedimentary
basins in the United States with black shale that are currently
experiencing extensive exploration drilling for natural gas, it has
been recognized that the Jurassic-age Fernie Group in Alberta also
contains thick sequences of highly organic, shale, natural gas
source rock.
 
Since 2005, Running Fox has participated in the development of the
Pincher Creek project and since that time has been producing natural
gas and condensates.  Over the years, the Pincher Creek project has
yielded average revenue of $1 million per year to Running Fox's
interest from a conventional gas zone in the Livingston Formation.
 
As with the U.S. black shale projects, the Fernie Group shale in
Alberta is not only the source of the natural gas but also acts as
the reservoir rock for the natural gas.  The presence of natural gas
in shale formations has been known for many years but only in the
past decade have gas well completion techniques been developed that
can successfully recover the natural gas from "tight" shale
formations in commercial quantities.
 
Shales are tight, and gas typically flows through fractures, and
additional manmade frac operations can open new fractures in  some
cases over 2,000 ft from the well bore, as noted by global oilfield
services giant Schlumberger Ltd.
Some new technological  advances for shale development are:
*              3-D  seismic in determining lateral length and
  placement;
*              Multilaterals  (drilling several laterals from a
  single well pad);
*              Multiple  frac stages within a lateral;
*              Real-time microseismic monitoring  to image
  hydraulic-fracture treatments;
*              Simul-fracs (simultaneous hydraulic fracturing of
  offset parallel horizontal wells about 1,000 feet apart);
*              Seismic technology is playing an increasing role in
  shale gas appraisal and development.
Generally, the industry has been driven by technological advances in
horizontal drilling and fracture stimulation techniques.
In the U.S., some of the best known black shale natural gas producing
formations include the Barnett Shale, New Albany and Bakken
formations where gas resources can be up to 100 Bcf per section.  The
recognition that black shale is also present in the Canadian
sedimentary basins has sparked strong interest in exploring Canadian
shale formations such as the Fernie Group.
 
Importantly, Shell Canada Ltd (Royal Dutch Shell) acquired Duvernay
Oil Corp which had a large block of land covering the Alberta Montney
Shale in a deal worth $5.9 billion in cash and debt.
 
In the Pincher Creek project area, the Fernie Group shale is from 300
to 500 feet in thickness and when the initial Pincher Creek discovery
well was drilled in 2005 it was noted that there were numerous strong
gas kicks and anomalies detected as the well logging tools passed
through the Fernie Group shale.  In 2005 the Fernie Group shale gas
anomalies were an interesting natural gas occurrence but recent shale
fracturing and well completion techniques developed in the U.S. shale
gas plays suggest that the gas anomalies found in the Fernie Group in
the Pincher Creek project area may also be a strong candidate for
economic gas development.
Running Fox is now evaluating the extent of the Fernie Group shale in
the Pincher Creek project area and is formulating a path forward to
determine testing and development of shale natural gas in the
Project.
 
Additionally, there are financial incentives provided by the Alberta
government that apply to the development of unconventional natural
gas from shale formations in Alberta.
 
Significantly, the whole area is developed with existing
infrastructure, pipelines, and processing plants with excess capacity
which will assist the economics of a new shale play in the area.
 
Shale natural gas drilling and production in Alberta is also expected
to increase the need for oilfield services.  Running Fox's
subsidiary, Alberta-based Claymore Oilfield Services Group, is well
positioned to benefit from any increase in natural gas drilling and
production by providing technical expertise related to the Alberta
natural gas and oil industry, manpower, and field equipment.
 
The Company has upside leverage to important commodities including
oil and gas, uranium and gold.
 
2008 revenues exceeded $9.3 million.
 
Running Fox is a Canadian growth-oriented small cap company
developing four key divisions:
 
*          Uranium and Gold Exploration Mineral Projects
*          Oil and Natural Gas Exploration and Production
*          Energy Sector Oilfield Services and Technology, and
*          Environmental Services - Encapsulation and Remediation
The Company has approximately 41 million shares issued and
outstanding and trades on the Toronto Stock Exchange- Venture.
On behalf of the Board of Directors:
 
Steven Schurman, CEO, US Prof. Geologist, Director
Running Fox Resource Corp.
 
Alberta (403) 742 0527           www.foxgold.ca
 
The Company relies on legislation applicable to forward looking
statements, seeking safe harbour.
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.