July 04, 2013 09:32 ET

AXMIN Announces Appointment of Lucy Yan as Chairman and Interim Chief Executive Officer

TORONTO, ONTARIO--(Marketwired - July 4, 2013) - AXMIN Inc. (TSX VENTURE:AXM) ("AXMIN" or the "Company") announces that the Board has agreed that Mr. George Roach will step down as President and Chief Executive Officer effective as at June 18, 2013. Mr. Roach has agreed to remain as a director and consultant to the Company. Ms. Lucy Yan will act as Interim Chief Executive Officer of AXMIN until the Company appoints a suitable replacement. In addition, Mr. David de Jongh Weill agreed to step down as Chairman of the Board and has been appointed Lead Independent Director for the Company. Ms. Yan has replaced Mr. Weill as Chairman effective as at June 18, 2013.

Interim CEO and Chairman of AXMIN, Ms. Lucy Yan, comments "On behalf of the entire Board of Directors, I would like to thank George Roach for his contributions to AXMIN over the past several years. Under George's leadership, AXMIN's wholly-owned subsidiaries (SOMIO Toungou SA and Aurafrique SARL) were granted the 25-year Mining Licence and two Exploration Licences, respectively, for the Passendro gold project. In addition the Company has made significant inroads towards securing the debt financing required to develop the project.

Over the next several months, the AXMIN team will be working closely with its project consultants, potential debt lenders and debt advisor, as well as the appropriate government representatives in the Central African Republic ("CAR"). The objective of this process is to focus on the most cost efficient strategy to build the Passendro mine."

Director and AXMIN Consultant, George Roach, comments "As a director and consultant to AXMIN, I remain fully committed to continuing to advance AXMIN's relationship with the new transitional government in the CAR and to ensure that this very important project to both the CAR and AXMIN is developed in a safe environment and timely manner."

About AXMIN:

AXMIN is a Canadian exploration and development company with a strong focus on central, east and West Africa. AXMIN has projects in Central African Republic, Mozambique and Senegal. AXMIN is positioned to grow in value as it progresses its Passendro Gold Project towards development focusing on transitioning from an explorer to producer. For more information regarding AXMIN visit our website at

About Dickson:

Dickson Resources Limited is an international private resources firm backed by the private capital of its founders. The company is a BVI registered company headquartered in Hong Kong. Having a team of geological and financial experts, Dickson is committed to investing internationally in the exploration and mining of natural resources. Meanwhile Dickson's scope of business reaches beyond the mining sector to international trade, marketing and advisory services which are all part of its business expertise.

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 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.

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