February 7, 2005

DRILLING AT PASSENDRO CONTINUES TO YIELD ENCOURAGING RESULTS - BAMBARI PERMITS, CENTRAL AFRICAN REPUBLIC

Toronto, Ontario – February 7, 2005, AXMIN Inc. (AXM-TSX Venture) is pleased to announce the latest drill results from the aggressive core and reverse circulation ("RC") drill program underway on the Passendro gold project in the Central African Republic. The results are from the resource drilling program at the Bacanga Head zone within the Passendro project and confirm continuity and structure with intersections including 12 metres at 5.7 g/t Au, 11 metres at 4.2 g/t Au and 13 metres at 2.7 g/t Au.

Chief Executive Officer, Dr Jonathan Forster comments "Drilling continues to demonstrate the resource potential at the Passendro project with our success rate of making new discoveries beneath geochemical soil anomalies remaining extremely high. Exploration programs are fully active at both Passendro (Bambari Permits) and at the Pouloubou Permit. Five drill rigs are now in operation at Bambari with support from equipment capable of creating access in more challenging terrain. Our objective over the next six months is to expand resources both through resource and exploration drilling not only at the Passendro project but to initiate work also at the Ndassima and Ao projects (Bambari Permits)."

The recent drilling at Bacanga Head, which incorporated both RC and core drilling, was designed to infill the broad spaced initial program at 40 metre intervals over the central 200 metre strike length. Mineralisation remains open to the northwest and southeast and will be subject to follow up drilling. The results confirm a northwest strike to the mineralisation and a dip to the south west at 40-45 degrees which makes Bacanga Head an attractive open pit mining target. Interpretation of the drill results indicates that mineralisation lies within a 50 metre thick slab, within which lies a central mineralised zone of typical true width between 10-15 metres, flanked in both hanging and foot walls by a series of parallel, thinner structures of variable strike length and thickness. To date the structure has been tested to a vertical depth of no more than 80 metres due to its relatively modest dip.

The full table of results are:

Grade calculations are based on a 0.5 g/t Au lower cut off, with no upper cut using the initial assays received from the laboratory, and will be subject to further quality control assaying. Analytical work is being carried out at the independent OMAC Laboratories Ltd. in Ireland. The core samples are subject to a full sample preparation followed by a 50 gram fire assay with an AA finish. Core blanks (5%) are being used to monitor laboratory performance during first pass analysis. A full QA/QC program will be coordinated on 20% of all >500 ppb samples at the end of the program and will include 5% blanks, standards and duplicates. This press release has been reviewed by an in-house qualified person, Dr. Jonathan Forster, Fellow of the Institute of Materials, Mining and Metallurgy ("IMMM").

AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.


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