Axmin Receiving 1.5% of Net Smelter Returns

Vancouver, British Columbia / The Newswire / February 5, 2016 - Axmin Inc. (TSX VENTURE: XM) ("AXMIN" or the "Company") is pleased to announce the receipts of 1.5% net smelter returns from the Gora deposit. The first royalty income was delivered to the Company on January 22, 2016.

The royalty is applied to the production of gold from the Gora deposit, located in the Senegal Republic.

The Gora deposit is operated by Axmin's joint venture partner Sabodala Mining Company SARL("SMC"), a wholly owned subsidiary of Teranga Gold Corp. (TSX:TGZ) ("Teranga"). The joint venture partner is currently targeting production of approximately 70,000-80,000 ounces from the Gora deposit in 2016.

President and CEO Lucy Yan comments: "The receipt of 1.5% NSR from the Gora deposit provides cash inflow to the Company and is a critical milestone that enables the Company to maintain the operations and preserve the Company's major assets. The Company is confident in the value of its Passendro Project and will continue to focus on its opportunities in Central African Republic."

About AXMIN

AXMIN is a Canadian exploration and development company with a strong focus on the African continent. AXMIN continues to closely monitor the political situation at its Feasibility Stage Passendro Gold Project in the Central African Republic. For more information regarding AXMIN visit our website at www.axmininc.com.

For additional information, please contact Axmin Inc.:

This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All information, other than statements of historical fact included herein, including without limitation, information regarding the future option grant plans and objectives of AXMIN, are forward-looking information that involves various risks and uncertainties.

There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such information. 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 information 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.

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