July 21, 2003

MINERALISATION CONFIRMED AT DEPTH AT THE FRENCH CAMP PROSPECT, CENTRAL AFRICAN REPUBLIC

Toronto, Ontario – AXMIN Inc. (AXM-TSX Venture) is pleased to report further excellent assay results from the French Camp prospect, Bambari Permit, Central African Republic. These latest results are derived from the ongoing core drilling program.

Gold mineralisation has now been confirmed to extend to a vertical depth of at least 100 metres on the two sections L300N and L380N (80 metres apart) at the northern end of the French Camp structure which lies within a 850 metre long soil anomaly (100 ppb threshold). The most significant results in two core holes on section L380N are 4.6 g/t Au over 29.7 metres and 3.2 g/t Au over 34.4 metres. The mineralisation has an apparent dip of about 65 degrees and is hosted by sheared and brecciated Banded Iron Formations (BIF) close to the contact with a schist unit.

A summary of the new analytical data is tabulated below, with intercepts calculated using a 1 g/t Au cut off and no cutting of higher grades.




Mineralisation in core holes on section L140N is weaker. However, this mineralisation is hosted by a silicified intrusive within a schist and its relationship to the BIF hosted mineralisation on sections L300N and L380N is not yet clear.

Further drilling at the French Camp will commence shortly to test along strike and the down dip extension of BIF hosted mineralisation on sections L300N and L380N and to investigate its relationship to mineralisation on section L140N.

Assay results from eight core holes at French Camp have now been reported, both here and in the press release dated July 2, 2003. In addition ten holes have been completed at the 1,500 metre long Main Zone prospect, and two holes completed at the 1,200 metre long Katsia prospect. Both prospects are located within 3 km of French Camp. Results are pending.

Analytical work is being carried out at the independent OMAC Ltd. laboratory in Ireland. The core samples are being subjected 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 Mining and Metallurgy (“IMM”).

AXMIN is a gold exploration company with a strong focus on gold in highly prospective properties across Africa, principally in the Central African Republic, Burkina Faso and Mali.

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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