News ReleasesJul 18, 2006 Komahun prospect, nimini hills, sierra leone: depth extensions confirmed; resource calculation initiated Toronto, Ontario – Jul 18, 2006, AXMIN Inc. (AXM-TSX Venture) is pleased to provide an update on drilling at the Komahun Prospect, Nimini Hills Joint Venture, Sierra Leone where new results received to date include 6.2 g/t Au over 13.5 metres, 2.7 g/t Au over 11.5 metres and 3.6 g/t Au over 9 metres from depth extensions to the main mineral zone, as well as 47.5 g/t Au over 3 metres from the first exploration hole on a new, parallel structure. The drilling information has been submitted to independent consultants for a first resource estimate to be prepared, whilst further results from reconnaissance exploration holes are awaited. Chief Executive Officer, Dr Jonathan Forster states "Deeper drilling confirms gold mineralisation at Komahun persists to at least 180 metres vertical depth with consistent strong gold grades. Strong continuity of grade with depth is typical with this style of shear hosted system in Archaean terrains but is nonetheless very encouraging. Moreover, the potential of the immediate area to host further gold mineralised zones remains excellent, as demonstrated by the discovery of the parallel, high grade structure with 47.5 g/t over 3 metres reported above which complements a similar, adjacent structure previously identified and reported, with an intercept of 66 g/t Au over 2 metres. With our new wholly-owned man portable drill rig shortly expected in country our immediate task will be to trace the extensions to these high grade zones as well as infill our knowledge gaps on the main structure, and to trace it along strike to the south and west where soil geochemistry suggests there to be promising potential." The following table contains drill results received to date from the 2006 program from the main structure at Komahun prospect:
* NSI = no significant intersection GPS – UTM Zone 29 North, WGS 84 datum Core samples have been prepared and 50 gram pulps subject to gold analysis by fire assay at the independent SGS Laboratory facility at Siguiri in the Republic of Guinee. This press release has been reviewed by an in-house qualified person, Dr. Jonathan Forster, Fellow of the Institute of Materials, Minerals and Mining in the United Kingdom. AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa. For more information regarding AXMIN visit our website at www.axmininc.com. Safe Harbour Statement Certain statements contained herein, as well as oral statements that may be made by the company or by officers, directors or employees of the company acting on the company's behalf, that are not statements of historical fact, may constitute "forward-looking statements" and are made pursuant to applicable and relevant national legislation (including the Safe-Harbour provisions of the United States Private Securities Litigation Reform Act of 1995) in countries where AXMIN is conducting business and/or investor relations. Forward-looking statements, include, but are not limited to those with respect to the price of gold, the estimation of mineral reserves and resources, the realization of mineral reserves estimates, the timing and amount of estimated future success of exploration activities, AXMIN’s hedging practices, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risk, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "does not expect", "is expected", "budget", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or equivalents or variation, including negative variation, of such words and phrases, or state that certain actions, events or results, "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, possible variations in grade and ore densities or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays in obtaining government approvals or financing or in completion of development or construction activities. Although AXMIN has attempted to identify important factors that could cause actual actions, events or cause actions events or results not to be anticipated, estimated or intended, there can be no assurance that forward looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as may be required by applicable law or stock exchange regulation, the company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Accordingly, readers should not place undue reliance on forward-looking statements. # # # 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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