News ReleasesFeb 07, 2006 Positive heap leach testwork in progress at passendro gold project, Central African republic Toronto, Ontario – Feb 07, 2006, AXMIN Inc. (AXM-TSX Venture) is pleased to advise that testwork on the extraction of gold at the Passendro Project in the Central African Republic using heap leach technology is progressing successfully. Preliminary recovery results are currently indicated to be between 70%-89% for the four deposits following 60 days of leaching. Gold is still being leached from all samples indicating significantly higher final recoveries could be achieved when the cycle is completed and final tail grades are available in four weeks. The results to date are very encouraging and could allow for flexibility in the design of the project with the potential to minimise capital and operating costs, using low-risk and proven technology. The pre-feasibility study at Passendro commenced by reviewing conventional gravity carbon-in-leach ("CIL") process routes at a scale of 2 million tonnes per annum. This work is nearing completion with average gold recovery rates from oxide and sulphide ores being in excess of 88%. However, at the same time a scoping study indicated that heap leach technology should also be considered. As a consequence a program of column leach tests commenced early in December 2005 at the independent Wardell Armstrong LLP facility in the United Kingdom under the supervision of independent consultants GBM Minerals Engineering Consultants Limited. Work has focused on composite oxide samples for each of four deposits, Bacanga Head, Main Zone, French Camp and Katsia, which all lie close to the conceptual site of the recovery plant. Initial pit optimisation studies indicate that at least 85% of the ore will be oxide material. After 60 days of leaching interim gold recoveries have ranged from 70% to 89% for the different deposits, provisionally calculated from head assays. Gold is continuing to be extracted from each of the column leach tests, requiring the program to be monitored for a further four weeks. Final recoveries will be calculated following the assay of residues and back calculation of total gold. Cement has been used for agglomeration purposes in the ratio of 10 kg per tonne. Mining plans will be reviewed for both the heap leach and CIL alternatives, with consideration also given to a hybrid development utilising a smaller CIL plant with associated heap leach during the initial life of the project. The results of the pre-feasibility study are anticipated early in the second quarter 2006. AXMIN is sufficiently confident of the economic potential of the Passendro Gold Project that it has already commenced the 12 month environmental baseline study, under the supervision of the independent Golder Associates (UK) Limited and has also commenced infill drilling to feasibility study standards under the guidance of independent SRK (UK) Ltd.. The recent signing of a Mining Convention with the State of the Central African Republic provides a sound legal and fiscal framework for the development project, with the objective being the completion of a feasibility study early in 2007. This press release has been reviewed by an in-house qualified person, Dr. Jonathan Forster, Fellow of the Institute of Materials, Minerals and Mining in the United Kingdom. AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa. As at the date of this press release AXMIN has 159.9 million common shares on issue (174.6 million fully diluted). For more information regarding AXMIN visit our website at www.axmininc.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
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