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March 18, 2003

MOBILISATION OF CORE RIG TO THE CENTRAL AFRICAN REPUBLIC ON SCHEDULE

Toronto, Ontario – AXMIN Inc. (AXM-TSX Venture) reports that on Saturday March 15, 2003, opposition forces loyal to the former chief of the Central African Republic (“CAR”) army, General Francois Bozize, succeeded in toppling President Ange-Felix Patasse’s government in what appears to have been a bloodless coup d’etat. Despite this change of power, AXMIN is continuing with its plans to mobilise a core rig to the CAR in late April 2003 to commence an initial 3,000 metre drilling program. The objective is to begin delineating resources in the Main Zone and French Camp prospects as well as testing new targets generated by the RAB drilling programs completed in 2002. Drill core will provide valuable geological and structural information and gives AXMIN the ability to test the gold bearing sulphide zone.

The coup follows five months of hostilities in the CAR between the Patasse government and Bozize’s opposition forces. Mr Patasse’s regime had been undermined by two previous coup attempts, in May 2001 and November 2002, as well as army mutinies in 1996 and 1997. Mr Patasse was outside the country at the time of the coup and his plane was prevented from landing at Bangui’s Mpoko airport. Although there has been swift condemnation of the coup by the African Union the change of government is a popular development amongst the residents of Bangui. General Bozize has proclaimed himself Head of State and has announced plans to create a transitional government and to work towards new democratic elections. This information comes from international press reports and first hand observations by AXMIN’s country manager in Bangui.

AXMIN is a mineral 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.

For additional information please contact:

Mario Caron

President & CEO

Direct T: 416 304 6608

Judy Webster

Manager Investor Relations

T: 416 368 0993

ir@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.