December 11, 2003

NEW RESULTS EXTEND THE FRENCH CAMP GOLD DISCOVERY AND CONFIRM CONTINUITY TO DEPTH

Toronto, Ontario – AXMIN Inc. (AXM-TSX Venture) is pleased to report that it has completed 17 new core holes at its Bambari Permit in the Central African Republic, of which 11 are at the French Camp prospect, four are on nearby gold targets and two are at the Katsia prospect. Of the 11 holes at French Camp results have been received from five of these. These include 5.9 g/t Au over 26.4 metres, 4.0 g/t Au over 21.9 metres, 3.9 g/t Au over 16.5 metres and 3.8 g/t Au over 16.5 metres. The samples from the remaining 12 drill holes have been shipped to OMAC Laboratories Ltd. and results are expected to be reported in January 2004.

French Camp Results
The new results indicate continuity of the mineralisation to a vertical depth of at least 140 metres below the surface. They also demonstrate the continuity between sections that are spaced 40 metres apart along a strike length that has now been tested for 280 metres. Three parallel sheets of mineralisation dip at about 60 degrees with the natural slope, and have a geometry and thickness particularly suitable for open pit mining. The mineralisation remains open in all directions.

The full set of new results are reported below, with a lower cut off of 1 g/t Au and higher values uncut.



Other Targets and Katsia
In addition to the 11 drill holes completed at French Camp, four drill holes have been used to investigate two new gold targets along the French Camp Trend and one along Main Zone, where earlier rotary air blast (“RAB”) drilling and trenching indicated rock types and gold anomalies over widths similar to those found overlying both the French Camp and Katsia discoveries. To date two additional holes have been drilled at the Katsia discovery with drilling to focus on the full 1,500 metre length of the structure in 2004.

Additional Drills Being Mobilised
It is anticipated that four drill rigs (two diamond core, one reverse circulation and one RAB) will be active on-site by late January 2004. In addition to defining resources at French Camp and Katsia, exploration drilling will be directed at the new targets within a five kilometre radius of the Passendro gold system. The Company will also commence drill testing at least one of the other substantial areas in the Bambari gold belt where mapping and soil sampling have recognised similar rock types, alteration and soil anomalies to the Passendro area, and where there was alluvial gold production during the Colonial period. The on-site sample preparation facility will be up and running early in 2004 which will reduce the turn-around time for assaying of samples significantly. The sample preparation facility will be operated by the independent group, Alex Stewart (Assayers) Ltd, which is also the parent company of OMAC Laboratories Ltd.

Grade calculations are based on the initial assays received from the laboratory, and will be subject to further quality control assaying. Analytical work was carried out at independent Humac Laboratories Ltd. in Tanzania. Humac is an associated laboratory of OMAC Laboratories Ltd.. 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 >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 Mining and Metallurgy.

AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across Africa, principally in the Central African Republic, Burkina Faso and Mali.