AXMIN Inc.
TSX VENTURE : AXM

AXMIN Inc.

March 05, 2008 09:24 ET

AXMIN Inc.: Average Recoveries of 91% Achieved at Kofi Gold Project, Mali

TORONTO, ONTARIO--(Marketwire - March 5, 2008) - AXMIN Inc. (TSX VENTURE:AXM) is pleased to announce that preliminary metallurgical testwork has given gold recoveries averaging 91% for the oxide, transition and sulphide mineralisation at the Kofi Gold Project in Mali. Metallurgical samples were taken from core samples at three resource centres, Kofi SW Zones B, C and Betea, which account for the majority of the current mineral resources at the Kofi Gold Project, of 3.6 Mt grading 2.5 g/t Au (293,000 oz contained gold) of indicated resources and 2.2 Mt grading 2.2 g/t Au (368,000 oz contained gold) of inferred resources (press release December 11, 2007).

President and Chief Executive Officer, Mario Caron comments "The initial metallurgical testwork has produced excellent results and reinforces our ultimate objective of establishing a mining project at Kofi. These results give us further confidence to pursue our ongoing drill program which is focused on resource expansion from both known centres of mineralisation and from new targets."

Preliminary metallurgical tests were conducted independently at two separate laboratories, namely Transworld in Ghana and SGS Lakefield in South Africa. The tests were not subject to any optimization investigations. Overall gold dissolutions for oxide, transition and sulphide mineral types using cyanide bottle roll without any addition of carbon generally fell in a range between 81% and 98%, with an average of 91%. Further simulated Carbon in Leach ("CIL") tests resulted in even higher recoveries, averaging in excess of 95%. Further tests will, as a matter of course, be performed that will seek to confirm the high recoveries already exhibited.

This press release has been reviewed by in-house qualified person Dr. Jonathan Forster, Fellow of the Institute of Materials, Minerals and Mining in the United Kingdom.

About AXMIN

AXMIN, a gold and iron ore exploration company, offers dynamic growth with a track record of finding and developing mines in Africa. AXMIN is one of only a few companies of comparable or even larger size that has such a potential to develop multiple gold mines in central and west Africa. For more information regarding AXMIN 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 potential mineralization and reserves, exploration results and future plans and objectives of AXMIN, 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 are disclosed under the heading "Risk Factors" and elsewhere in AXMIN documents filed from time-to-time with the TSX Venture and other regulatory authorities.

Contact Information

  • AXMIN Inc.
    Mario Caron
    President & CEO
    (416) 304-6608
    or
    AXMIN Inc.
    Judy Webster
    Manager Investor Relations
    (416) 368-0993
    Email: ir@axmininc.com
    Website: www.axmininc.com