Axiom Gold and Silver Corp.
OTCQB : AXIO
BERLIN : 0X0

June 29, 2011 15:20 ET

Axiom Gold and Silver Corp. Aurora Project Update

TUCSON, ARIZONA--(Marketwire - June 29, 2011) - Axiom Gold and Silver Corp. (OTCQB:AXIO)(BERLIN:0X0) is pleased to provide an update on its Aurora Project located in Sonora State, Mexico.

Axiom Gold and Silver Corp., through its wholly owned subsidiary Axiom Minerals de Mexico, S.A. de C.V., has completed an initial, broad reconnaissance of its Aurora Project located 160 km east of Hermosillo, Sonora. Earlier geological mapping and sampling of workings, road cuts and outcrop exposures in the property outlined a large zone of mineralization and alteration, traced in outcrops over an area of more than 4 kilometers along strike and approximately 500 meters in width, with selected samples ranging from trace to 5.91 g/t Au. Additionally, more random sampling of this mineralized area has now returned results in 22 samples ranging from 0.02 to 0.83 g/t Au, averaging 0.14 g/t (140ppb) Au for all samples. While the rock at the surface has been intensely leached due to weathering of sulfide minerals, sampling has also shown local anomalies in copper and molybdenum.

Given these early, favorable results, Axiom has initiated a program of more detailed mapping and systematic sampling on a grid-pattern to further explore this extensive zone of mineralization and alteration. The first two sets of approximately 60 samples are now being analyzed by Acme Analytical Laboratory Ltd. in Vancouver, B.C.

Barry Quiroz, VP Exploration says, "These results provide evidence of the potential for discovery of a gold and/or copper-gold-bearing structure. The next step in our exploration program will be detailed mapping and sampling of the entire 4,000 x 500 meters of altered and mineralized rock to more fully evaluate the potential of the property and identify drilling targets."

Dr. John Larson says, "We are excited about the relative consistency and areal extent of the gold anomaly in results obtained to date, which suggest wide-spread mineralization consistent with a porphyry system. Based on these results, we plan to apply for drilling and environmental permits to initiate a drill program of approximately 3,000 meters later this year, once permits are issued."

Details of sample results will be posted on our website, www.axiomgoldandsilver.com, within the next days.

In further news, the Company is pleased to announce that it has recently been accepted for trading on the Berlin exchange - symbol 0X0.

About Axiom Gold and Silver Corp.:

Axiom Gold and Silver, through its wholly owned subsidiary, Axiom Minerals de Mexico S.A. de C.V. is a mineral exploration company with current properties located in Sonora State, Mexico. Axiom is also actively seeking additional exploration and mining concessions in Mexico, Argentina and Chile. The Company has a strong exploration and management team with extensive experience in the exploration and development of mineral properties.

The Company is led by Dr. John Larson, a senior mining executive with 33 years international experience in exploration, mining and resource/reserve/mine development. The exploration team is managed by Mr. Quiroz and Mr. Rojas. Mr. Quiroz has 23 years of experience in management and development of exploration programs, spending 16 years with BHP and BHP Billiton. Mr. Rojas is President of Rojas & Asociados, a leading Argentinean mining consulting and management firm (www.rojasyasociados.com) based in Mendoza, Argentina. He played a key role in the discovery of many world-class ore deposits, including the Escondida porphyry copper deposit in Chile, and Agua Rica, Diablillos, Taca Taca and Los Azules porphyries, in Argentina.

The qualified person, who has reviewed the project in the field, and has reviewed the technical data in this news release, is Dr. John Larson, PhD Geology. He is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM).

Forward-Looking Statement:

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.

Cautionary Note to US Investors:

All mineral materials have been calculated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101, commonly referred to as NI 43-101. U.S. SEC reporting requirements for disclosure are governed by SEC Industry Guide 7. NI 43-101 and Industry Guide 7 differ materially.

The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "reserves", "resources", "geologic resources", "proven", "probable", "measured", "indicated", or "inferred" which may not be consistent with the reserve definitions established by Industry Guide 7. U.S. investors are urged to consider closely the disclosure in our filings with the SEC. You can review and obtain copies from the SEC website at http://www.sec.gov/edgar.shtml.

Contact Information