News Releases

Mar 01, 2006

New gold zones identified at ndassima, baMbari permits, central african republic:

intersections include 3.1 g/t Au over 30 M and 3.0 g/t Au over 27 m 

Toronto, Ontario – Mar 01, 2006, AXMIN Inc. (AXM-TSX Venture) is pleased to announce a positive start to exploration on the Ndassima Project located 4 to 10 km southeast of the Passendro Gold Project in the Central African Republic and within easy haulage distance of the likely plant site. Core and shallow reverse circulation ("RC") drilling of the first soil anomaly tested at the Ngetepe prospect, within the Ndassima Project area, has yielded intersections including 3.1 g/t Au over 30 metres and 3.0 g/t Au over 27 metres. In addition shallow reconnaissance rotary airblast ("RAB") drilling and wide-spaced trenching has demonstrated the presence of gold mineralised structures beneath several substantial soil anomalies (each >1,500 metres strike length) at the Batis and Yagba prospects located about 5 km east of Ngetepe - assays from four core holes drilled to test one of these are awaited.

Chief Executive Officer, Dr Jonathan Forster comments "This is an excellent start to exploration at Ndassima, bearing in mind that the Passendro Gold Project is close by and that any resources identified at Ndassima can be incorporated rapidly into the feasibility study for Passendro. The gold in soil anomaly at Ndassima is of comparable size to that overlying the Passendro deposits and the underlying geology is similar providing encouragement that significant resources may exist there. Follow-up exploration drilling is being accelerated to ensure that any such resources can be defined in time to be included within the Passendro feasibility study."

Ngetepe

The northwest trending gold mineralisation has so far been identified over a strike length of 160 metres, open to the northwest where the structure is overlain by a 120 metre wide drainage valley. The valley has historically been heavily worked for alluvial gold. Initial reconnaissance drilling using both RC and core has identified a number of parallel structures, with mineralisation strengthening towards the northwest. The mineralisation is hosted at the contact zone between cherty banded ironstone and sericitic schists.

The following table contains drill results to date:

grade calculations are based on a 1.0 g/t Au lower cut off; * drilling ended in mineralisation

Yagba-Batis

The Yagba and Batis prospects currently cover at least five substantial west-northwest trending gold in soil anomalies (30 ppb Au threshold with more intense eyes of >100 ppb Au) of 1,500-2,500 metres length, that are underlain by an intercalated sequence of banded ironstones, chlorite-sericite schists, amphibolites and quartz-biotite schists (greywackes).

Reconnaissance shallow vertical RAB drilling to depths of about 20 metres, sited where the rugged terrain allows, confirms the presence of multiple gold mineralised structures with broad low grade haloes. Results from this semi quantitative, composite sampling method include 57 g/t Au over 5 metres and 2.5 g/t Au over 5 metres. Hand excavated trenching is in progress to provide initial information on geology and, where appropriate, the gold mineralisation in order to better define the targets for drilling. Four reconnaissance core holes have been completed adjacent to a previously reported trench at Yagba containing 4.2 g/t Au over 24 metres with results awaited. A trench on a separate structure approximately 1,300 metres to the southeast has already returned 2.3 g/t Au over 4 metres.

High resolution aeromagnetics has recently been completed over the entire Passendro and Ndassima project areas in order to better define the structures that control the gold mineralisation. This understanding, combined with a detailed structural geological program at Passendro, will be used to focus initial efforts at the 14 other gold anomalous areas along the 90 km greenstone belt that have been located to date. It is intended that this will allow more rapid and precisely targeted follow up exploration using angled RC and core drilling.

Analytical work is being carried out at the independent OMAC Laboratories Ltd. in Ireland. The samples are subject to a full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks (5%), pulp duplicates (5%) and a suite of Geostats standard reference material are being used to monitor sample preparation and laboratory performance during first pass analysis. Further QA/QC work is carried out on a quarterly basis. This comprises check assaying 20% of all >500 ppb samples using prepped coarse reject samples at OMAC and a second laboratory. Check assay batches are also routinely monitored using 5% blanks, standards and pulp duplicates. This press release has been reviewed by 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.

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.


For additional information please contact AXMIN Inc.: