AXMIN Inc.
TSX VENTURE : AXM

AXMIN Inc.

October 28, 2013 08:50 ET

AXMIN Announces Changes to Management and Board of Directors

TORONTO, ONTARIO--(Marketwired - Oct. 28, 2013) - AXMIN Inc. (TSX VENTURE:AXM) ("AXMIN" or the "Company") announces the resignation of Mr. George Roach as a consultant to the Company and from the Company's Board of Directors, as well, Mr. Roach also resigns from all positions he held with AXMIN subsidiaries, effective October 24, 2013. Mr. Roach was previously the CEO and President of AXMIN and resigned on June 18, 2013 (see press release July 4, 2013). In addition, the Company would like to announce the appointment of Ms. Jin Kuang as Chief Financial Officer ("CFO") replacing Terry Wong who was serving as Interim CFO, effective October 24, 2013.

Ms. Kuang has plus 12 years of extensive professional knowledge and experience in financial reporting, financial planning, mergers and acquisitions, financial analysis and tax both internationally and in Canada. Ms. Kuang has many years of experience as CFO for several publicly listed companies including the TSX Venture Exchange. Ms. Kuang has advanced knowledge of IFRS regulations. In addition to her CFO experience, Ms. Kuang has many years of auditing experience with KPMG LLP Chartered Accounts. Ms. Kuang received a BA of Accounting and an MBA from the University of Northeastern China and also holds both a US-CPA and CGA designation. Ms. Kuang is fluent in Mandarin and English.

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 many contributions to AXMIN over the past three years and we wish him all the best in his other ventures.

As well, I am very pleased to welcome Ms. Kuang to our senior management team. She is distinctly qualified to serve as AXMIN's CFO based on her public company experience and her expertise in auditing, financial reporting and internal control stewardship. We look forward to leveraging Ms. Kuang's extensive financial expertise for both our day-to-day operations and for AXMIN's long-term strategic planning. On behalf of the Board of Directors, I would also like to thank Terry Wong for her time as Interim CFO."

Update Passendro Gold Project - CAR

Further to our press release of September 16, 2013 regarding the status of AXMIN's Passendro gold project in the Central African Republic ("CAR"), the Company wishes to assure its shareholders that it continues to work diligently to resolve the issues raised by the Government of CAR. At this time AXMIN's local management and advisors continue to communicate closely with the CAR government and it is hoped that we will have an update shortly.

AXMIN -Head Office Relocation

The Company would also like to announce its corporate office will be relocated to Vancouver, British Columbia, Canada. The new corporate office address is 1066 West Hastings Street, Suite 2303, Vancouver, BC, Canada, V6E 3X2 and the new corporate office telephone number is +1-778-373-5558. It is expected that the new corporate office will be fully operating by mid-November 2013.

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, please 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 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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