AXMIN Announces Resignation of Chief Financial Officer

TORONTO, ONTARIO -- (Marketwire) -- 12/12/11 -- AXMIN Inc. (TSX VENTURE: AXM) ('AXMIN' or the 'Company') today announced that its Vice President Finance and Chief Financial Officer ('CFO'), Alex Dann, has advised the Company of his resignation from his position to pursue another business opportunity. The Company has commenced an executive search to replace Mr. Dann, who will continue in his role of CFO until early 2012 in order to facilitate the transition.

AXMIN's board of directors and President and CEO, Mr. George Roach comments, 'We certainly appreciate Alex's contributions and leadership during his three years with AXMIN and we wish him the very best in his new opportunity.'

About AXMIN

AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. AXMIN is positioned to grow in value as it progresses its Passendro Gold Project towards development and builds on its project pipeline focusing on transitioning from an explorer to producer. For more information regarding AXMIN visit our website at www.axmininc.com.

This press release includes certain 'Forward-Looking Statements.' All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of AXMIN; and statements regarding the ability to develop and achieve production at Passendro, to revalidate the BFS and to satisfy the terms of the Mining Licence as negotiated, 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 have been disclosed under the heading 'Risk Factors' and elsewhere in AXMIN's 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 resulting from new information, future events or otherwise, except as required by applicable law.

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.

Contacts:

AXMIN Inc.

George Roach

President & CEO

Direct: +44 779 626 3999


AXMIN Inc.

Judy Webster

Manager Investor Relations

416 368 0993 ext 221
ir@axmininc.com
www.axmininc.com