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Sep 08, 2005

High Grade shoots intersected at katsia, bambari permits, central african republic

Toronto, Ontario – Sep 08, 2005, AXMIN Inc. (AXM-TSX Venture) is pleased to announce the discovery of high grade gold shoots in the central part of the Katsia prospect within the Passendro project area, Bambari Permits, Central African Republic. Results, not previously reported, include 89.1 g/t Au over 4.5 metres, 31.8 g/t Au over 4.5 metres, 34.1 g/t over 3.0 metres and 21.7 g/t Au over 4.5 metres.

These high grade structures can be traced from surface and have been tested so far by core drilling to a vertical depth ranging from 80 to 175 metres on seven sections, with up to 3 individual high grade structures recognised on each section. The strike length of each shoot is currently estimated at between 50 to120 metres with true widths of each estimated to vary from 1.0 to 3.5 metres. The weighted average grade of the 33 intercepts recorded to date is 33.5 g/t Au with a weighted average intercept width of 2.0 metres (approximate estimated true width 1.5 metres). Gold mineralisation is closely associated with quartz-tourmaline veins with a noticeable abundance of visible gold.

Chief Executive Officer, Dr Jonathan Forster comments "The interpretation that the high grade intersections at Katsia represent continuous veins with an average grade to date in excess of one ounce per tonne is an important new development at Bambari. This high grade system is open at depth and offers the prospect of underground development when the open pits are exhausted."

The following table summarises the drilling intercepts that define the high grade shoots.

 

Hole No.

Total

Depth (m)

North

Co-ord

East

Co-ord

Azimuth

(deg)

Declin.

(deg)

From

(m)

To

(m)

Interval

(m)

Grade

(g/t Au)

PDC 66

110.1

2600

985

079

-65

14.1

15.6

1.5

17.0

 

 

 

 

 

and

21.6

23.1

1.5

10.4

PDC 42

131.0

2600

947

079

-65

65.8

68.1

2.3

9.6

PDC 48

182.0

2600

907

079

-65

141.5

143.0

1.5

33.7

PRC 165**

60.0

2560

990

079

-50

22.0

23.0

1.0

70.5

PDC 65

125.0

2560

965

079

-65

41.0

45.5

4.5

21.7

PDC 68

135.7

2560

948

079

-65

51.7

53.2

1.5

30.1

PDC 64

149.0

2560

931

079

-65

65.1

68.1

3.0

37.8

 

 

 

 

 

and

81.6

83.1

1.5

18.7

PDC 69

135.7

2550

948

079

-65

35.2

36.7

1.5

50.3

 

 

 

 

 

and

68.2

71.2

3.0

34.1

 

 

 

 

 

and

84.7

89.2

4.5

89.1

PDC 70

135.7

2540

948

079

-65

71.2

72.7

1.5

44.0

 

 

 

 

 

and

84.7

86.2

1.5

46.1

 

 

 

 

 

and

93.7

95.2

1.5

23.6

PRC 164**

60.0

2520

1010

079

-50

3.0

5.0

2.0

29.6

PDC 46*

119.1

2520

980

079

-65

11.6

12.6

1.0

22.2

 

 

 

 

 

and

38.5

41.1

2.6

44.8

 

 

 

 

 

and

71.1

72.6

1.5

31.8

PDC 19

101.0

2520

940

079

-65

68.0

68.7

0.7

15.6

 

 

 

 

 

and

79.0

80.0

1.0

42.3

 

 

 

 

 

and

92.0

93.5

1.5

11.2

PDC 63

170.0

2480

945

079

-65

87.6

89.1

1.5

12.4

PDC 57*

152.1

2440

1000

079

-65

23.2

24.7

1.5

11.3

 

 

 

 

 

and

83.2

84.7

1.5

13.6

PDC 43

151.0

2440

950

079

-65

35.0

36.5

1.5

20.5

 

 

 

 

 

and

135.5

140.0

4.5

31.8

 

 

 

 

 

and

150.0

151.0

1.0

31.3

 

* Previously announced May 6, 2004

** Previously announced June 22, 2004

High grade zones are taken with 8 g/t Au lower cut off with no cut of high grade values. 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.

Following the July 5, 2005 announcement of the updated resource estimate at Passendro on August 5, 2005 AXMIN filed with SEDAR the technical report prepared by SRK Consulting of the United Kingdom (see www.sedar.com for the full report). This resource estimate for Passendro contains an indicated mineral resource of 1.072 million ounces (13.2 Mt grading 2.5 g/t Au) and an inferred mineral resource of 1.109 million ounces (19.3 Mt grading 1.8 g/t Au).

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").

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.:

 

Jon Forster

Judith Webster

Chief Executive Officer

Manager – Investor Relations

AXMIN Inc.

AXMIN Inc.

Tel: +44 (0)1233 665600 (UK)

Tel: +1 416 368 0993 (Canada)

Fax: +44 (0)1233 643728 (UK)

E-mail: ir@axmininc.com