March 10, 2008 10:30 ET

AXMIN Inc.: Central African Republic Signs US$67 Million Transportation Facilitation Grant With the African Development Bank

TORONTO, ONTARIO--(Marketwire - March 10, 2008) - AXMIN Inc. (TSX VENTURE:AXM) is very pleased to bring to shareholders attention that the African Development Bank ("AfDB") announced on March 3, 2008 that it had signed three grant agreements totalling US$67 million with the Central African Republic ("CAR") and the Economic and Monetary Union of Central African States ("CEMAC") to finance the Douala-Bangui and the Douala-N'Djamena road corridors linking Douala, the main port of Cameroon with the capitals of both the CAR and Chad. Full version of this release can be found on our website at

The grants main objectives are to contribute to the growth of intra- and inter-regional trade in the CEMAC zone and to enhance the efficiency of the transport chain, including road infrastructure, railways and access along the Douala-Bangui and Douala-N'Djamena corridors. The multinational program is aimed at creating commercially and economically viable corridors devoid of barriers, formalities and unnecessary road blocks that are the only principal causes of undue delays and high transaction costs along these corridors.

Mario Caron, President and CEO comments "The feasibility study is based on the logistical supply chain of the Douala to Bangui corridor and therefore this announcement is very timely. This improvement in infrastructure will only benefit our current development plans and future operations at the Passendro Gold Project."


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

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) 368-0993
    AXMIN Inc.
    Judy Webster
    Manager Investor Relations
    (416) 368-0993