AXMIN Inc.: New Gold Discovery at Bacanga Head Prospect, Bambari, Central African Republic.

TORONTO -- AXMIN Inc. (TSX VENTURE:AXM) is pleased to announce the discovery of a new gold prospect called Bacanga Head at the Passendro project area, Bambari Permit, in the Central African Republic. Core drilling has to date tested a strike length of 300 metres with intercepts including 12 metres

at 5.7 g/t Au, 12 metres at 3.7 g/t Au and 22.5 metres at 2.5 g/t Au. The structure is open in all directions. The current geological interpretation indicates that there is sufficient geological continuity to warrant completion of drilling for the purpose of resource definition.

Chief Executive Officer, Dr Jonathan Forster comments "The Bacanga Head prospect is the fourth discovery of gold mineralisation at Passendro, along with French Camp, Katsia and Main Zone, which all lie within a 3 km radius. Our success rate of making new discoveries beneath geochemical soil anomalies remains extremely high, which is very encouraging given the large number of anomalies yet to test both at Passendro and across the other project areas. This work of testing new targets has already commenced."

Observations from 15 core holes at Bacanga Head set on fences mainly 80 metres apart have been interpreted in conjunction with detailed surface mapping. The preliminary geological model suggests that gold mineralisation occurs along several low angle (dipping 35 degrees -45 degrees to the southwest), northwest trending shear zones within folded Banded Ironstone Formation ("BIF"). The mineralised shears occur mainly within a 40 to 60 metre wide zone which to date has been intersected to a vertical depth of 70 metres.

The results from the first seven holes are tabulated as follows:

Hole No.    Total North East  Azi-   Declin.  From    To Inter- Grade
            Depth   Co-  Co-  muth     (deg)   (m)   (m)    val  (g/t
             (m)    ord  ord (deg)                          (m)   Au)
---------------------------------------------------------------------
PDC 075     125.0  5000  896   057       -65   9.5  32.0   22.5   2.5
                                   including   9.5  17.0    7.5   4.6
                                         and 104.0 105.5    1.5   2.0
---------------------------------------------------------------------
PDC 076     102.5  5080  920   057       -65   3.0   5.0    2.0   4.0
                                         and  11.0  14.0    3.0   1.9
                                         and  38.0  41.0    3.0   1.4
                                         and  53.0  59.0    6.0   2.9
---------------------------------------------------------------------
PDC077      144.5  5167  995   057       -65  11.0  14.0    3.0  11.4
                                         and  18.5  20.0    1.5   8.2
                                         and  57.5  69.5   12.0   5.7
                                   including  63.5  69.5      6  10.5
                                         and  86.0  87.5    1.5   5.4
                                         and  98.0 102.5    4.5   1.5
---------------------------------------------------------------------
PDC 078     113.5  5158  959   057       -65   3.4   7.9    4.5   3.1
                                         and  70.9  72.4    1.5   1.6
                                         and  79.9  84.4    4.5   1.0
---------------------------------------------------------------------
PDC 080     145.5  5000  960   057       -65  14.1  15.6    1.5   1.6
                                         and  35.1  47.1   12.0   3.7
                                         and  53.1  54.6    1.5   2.6
                                         and  77.1  78.6    1.5   1.6
---------------------------------------------------------------------
PDC 081     151.8  4921  940   057       -65  47.2  51.7    4.5   1.6
                                         and  72.7  77.2    4.5   2.0
                                         and 105.7 107.1    1.4   2.5
---------------------------------------------------------------------
PDC 082     149.0  5080  982   057       -65   3.6   9.6    6.0   3.9

AXMIN has two core rigs and one RC rig operating on the Bambari Permits. Currently one core rig is at Bacanga Head and the second core rig and RC rig are testing two other gold anomalies at Passendro. A second RC rig is scheduled to mobilise to the property from South Africa shortly. Drilling is planned to continue essentially non-stop through to the onset of the wet season in July 2005.

Grade calculations are based on a 0.5 g/t Au lower cut off, with no upper cut using the initial assays received from the laboratory, and will be subject to further quality control assaying. Analytical work is being carried out at the independent OMAC Laboratories Ltd. in Ireland. The core samples are subject to a full sample preparation followed by a 50 gram fire assay with an AA finish. Core blanks (5%) are being used to monitor laboratory performance during first pass analysis. A full QA/QC program will be coordinated on 20% of all greater than 500 ppb samples at the end of the program and will include 5% blanks, standards and duplicates. This press release has been reviewed by an in-house qualified person, Dr. Jonathan Forster, Fellow of the Institute of Materials, Mining and Metallurgy ("IMMM").

AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Axmin Inc. (TSX VENTURE:AXM)