News ReleasesDec 29, 2010 AXMIN CLOSES SALE OF FOUR PERMITS IN THE KOFI GOLD PROJECT, MALI TO AVION GOLD CORPORATION Toronto, Ontario – December 29, 2010 – AXMIN Inc. (AXM-TSX Venture) is pleased to announce today that it has closed the sale to Avion Gold Corporation (TSX: AVR) (“Avion”) of the Kofi Nord, Kofi Dabora, Walia (ACGRI) and Dianissi concessions, which are the key permits within the Kofi Gold Project. In March 2010, AXMIN entered into an agreement to sell its interest in the Kofi Gold Project and all ancillary permits in Mali to Avion (see press release March 31, 2010). It is expected that the transfer of the remaining five permits within the Kofi Gold Project will close within 30 days. The sale of the Kofi Gold Project does not include AXMIN’s Satifara permit which was the subject of a joint venture agreement in February 2009 with SEMOS, a joint venture between IAMGOLD Corporation and AngloGold Ashanti that operates the Sadiola Mine in Mali. About AXMIN For additional information please contact AXMIN Inc.: George Roach Judy Webster Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of AXMIN; and statements regarding the ability to develop and achieve production at Passendro, to revalidate the BFS and to satisfy the terms of the Mining Licence as negotiated, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AXMIN's expectations have been disclosed under the heading "Risk Factors" and elsewhere in AXMIN’s documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. AXMIN disclaims any intention or obligation to update or revise any forward-looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.
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