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May 10, 2010

AXMIN REPORTS FURTHER HIGH GRADE RESULTS AT GORA, FORMERLY ZONE D, SENEGAL

Toronto, Ontario – May 10, 2010, AXMIN Inc. (AXM-TSX Venture) is pleased to announce further high grade near surface drill results from the Zone D, now referred to as the Gora prospect, located on the Sonkounkou permit, Senegal. The new intersections are a continuation of a 30 hole, 3,500 metre reverse circulation ("RC") drilling program carried out by AXMIN’s joint venture partner and operator, Minerals Deposits Limited (MDM-TSX) ("MDL"), as part of it’s earn in program on AXMIN’s wholly owned Senegal gold permits, Sonkounkou, Heremakono and Sabodala NW.

 

The high grade drill intersections recently reported from the Gora prospect (see press release April 30, 2010) included 25.3 g/t Au over 2 metres (SKRC 001), 147.2 g/t Au over 1 metre (SKRC 006) and 23.6 g/t Au over 3 metres (SKRC 008). For full drill results please refer to Table 1 on AXMIN’s website www.axmininc.com, true widths are unknown at this time. Highlights of the new results include:

 

The Gora prospect is located within the Sonkounkou permit approximately 25 kms northeast of MDL’s Sabodala processing plant (refer to Map 1 on AXMIN’s website www.axminic.com

). To date, 24 holes totaling 2,946 metres have been completed, with 18 of the 24 holes intersecting significant mineralisation. Many high grade intervals were intersected at down hole depths of less than 60 metres. Early indications suggest the potential for multiple lode structures such as intersected by drill holes SKRC 006 and SKRC 014.

The vein system at Gora is exposed as a series of en-echelon lenses over a combined 700 metre strike length and is hosted in a sequence of folded sediments adjacent to a series of porphyry and granite intrusions. Trenching to the north and south indicate that the mineralised structure extends for at least 1,100 metre strike length (refer to Map 2 on AXMIN’s website www.axmininc.com

). Rotary Air Blast ("RAB") drilling is planned to map out the full strike length of the prospect. Once the initial round of drilling has been completed, MDL will consider a larger drill program to fully assess the resource potential of the Gora prospect.

Senegal Permits Joint Venture

AXMIN’s wholly owned Senegal Permits (Sonkounkou, Heremokono and Sabodala NW ) are held under a joint venture with Sabodala Mining Company SARL ("SMC"), a wholly owned subsidiary of Mineral Deposits Limited (MDM-TSX) ("MDL") whereby MDL may earn a 51% interest by spending US$2.5 million over three years. Thereafter AXMIN may elect to participate in further expenditure on a pro rata basis, or dilute its interest to 20% in return for MDL expending a further US$3.5 million over the subsequent three year period. All exploration is managed by MDL.

Analytical work is being carried out at MDL’s Sabodala laboratory for rock chip samples and RAB drill samples with the independent SGS Laboratories Ltd. supervising assays of RC samples. Samples are subject to a full sample preparation with assaying carried out using an aqua regia digest with AAS finish. Blanks, standards and duplicates are being used to monitor laboratory performance during the analysis. RC drilling and trench samples are in the main 1 metre samples. These samples are assayed by fire at the SGS Laboratory at Kayes in Mali. This press release has been reviewed by François Auclair, M.Sc., PGeo, AXMIN VP Exploration, Member of Ordre des Géologues du Québec, Fellow of Geological Association of Canada; and by MDL’s Chief Geologist, Chris Young BSc, who is a member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists.

About AXMIN

AXMIN is a Canadian exploration and development company with a strong focus on central and west Africa. AXMIN has projects in Central African Republic, Mali, Sierra Leone and Senegal. For more information regarding AXMIN visit our website at www.axmininc.com

.

For additional information please contact AXMIN Inc.:

 

Mario Caron

President & CEO

Direct T: 416 368 0993 ext 223

Judy Webster

Manager Investor Relations

T: 416 368 0993 ext 221

ir@axmininc.com

 

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 the completion of the Transaction and the Financing, the anticipated and actual terms and conditions of the Transaction and any definitive agreements entered into in connection with the Transaction and future plans and objectives of AXMIN, 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 are disclosed under the heading "Risk Factors" and elsewhere in AXMIN 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 as a result of new information, future events or otherwise, except as required by applicable law.