May 11, 2011 17:09 ET

AXMIN Announces Issuance of Shares for Consulting Services

TORONTO, ONTARIO--(Marketwire - May 11, 2011) - AXMIN Inc. (TSX VENTURE:AXM) announces that it has issued 149,466, common shares of AXMIN as payment for services to a consultant to the Company at a deemed price per share of $0.11, which was the 15-day weighted average trading price ("VWAP").

These shares were issued pursuant to the terms of the consulting agreement and are subject to a four month hold period from the date of issue and become free trading as of September 12, 2011. Post-completion of the issuance, AXMIN will have a total of 628,189,198 common shares outstanding.


AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. AXMIN has projects in Central African Republic, Mali, Mozambique, Sierra Leone and Senegal. 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

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.

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