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)
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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
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PDC 076     102.5  5080  920   057       -65   3.0   5.0    2.0   4.0