March 2, 2005

STRONG GOLD MINERALISATION AT THE KOFI PROJECT, MALI

Toronto, Ontario – March 2, 2005, AXMIN Inc. (AXM-TSX Venture) is pleased to announce the results of a follow up phase of drilling at the Kofi Project in Mali, which include 4.5 g/t Au over 52.2 metres, 6.2 g/t Au over 39 metres, 19.8 g/t Au over 4 metres and 2.3 g/t Au over 25.1 metres. The drilling was designed to follow up on last season’s discovery hole (reported June 1, 2004) of 11.6 g/t Au over 31 metres.

The Kofi Project is a joint venture with a subsidiary of Newmont Mining Corporation (NEM-NYSE & ASX; NMC-TSX), whereby Newmont may earn 50% of AXMIN’s interest by funding a US$5.5 million exploration program within a three year period to September 2006. Thereafter Newmont may elect to earn an additional 25% of AXMIN’s interest by carrying all expenditures through to the completion of a bankable feasibility study. The joint venture is currently midway through its second year, with a requirement for Newmont to spend a balance of US$1.5 million before October 1, 2005.

Drilling has tested gold mineralisation to a maximum vertical depth of 125 metres over a strike length of 250 metres. At least two parallel mineralised structures are identified, located within 50 metres of each other. Drilling to date has not fully resolved the geometry of this mineralisation. Interpretation of the results is ongoing and structural models will be tested by a follow up program planned for the second quarter of 2005.

AXMIN observes that the strength of the gold mineralisation is not dissimilar to that announced as currently being explored at deeper levels beneath the planned open pits at the nearby Loulo development of Randgold Resources.

This drilling program comprised a total of 776 metres of core drilling and 156 metres of reverse circulation ("RC") drilling at the Zone C prospect. The full table of results from the holes that targeted the mineralisation is shown below.

* hole ended in mineralization

** top 36m drilled by RC, 1 metre samples.

NSI No significant intersection

Holes prefixed CD refer to core holes, those prefixed CC refer to RC holes

Grade calculations are based on a 1g/t Au lower cut off to define the mineralised structure, with no upper cut. Analytical work is being carried out at the independent Abilab Laboratories Ltd. in Bamako, Mali. The core samples are subject to a full sample preparation followed by a 50 gram fire assay with an AA finish. Core blanks, standards and duplicates are being used to monitor laboratory performance during the analysis. This press release has been reviewed by an in-house qualified person, Dr. Jonathan Forster, Fellow of the Institute of Materials, Mining and Metallurgy ("IMMM").

The current program is directed towards the identification of new mineralised zones beneath the masking "cuirasse" (laterite) ground cover and further drilling both along strike and at depth at the Zone C prospect, the planned work program also includes ground geophysical surveys.

AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa.

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.: