Oct 02, 2009

Recent trenching results in senegal include 10 metres at 4.41 g/t Au within an interval of 78 metres at 0.89 g/t Au

Toronto, Ontario – October 02, 09, AXMIN Inc. (AXM-TSX Venture) is pleased to announce exploration results carried out in Sénégal by its joint venture partner and operator, Minerals Deposits Limited (MDM-TSX) ("MDL"), completed as part of its earn-in program on AXMIN’s wholly owned gold exploration permits, Soukounkou, Heramakono and Sabodala NW.

 

In early 2009, MDL carried out a compilation, interpretation and field reconnaissance program encompassing the most promising areas delineated during AXMIN’s original exploration campaign. Following this work,

 

MDL completed a program of sixteen trenches for a total of 4,296 metres on the Soukounkou licence. All trenches targeted surface geochemical gold anomalies and extensions of known mineralised zones.

All trenches were dug well into the saprolitic-bedrock and were on average 2-3 metres deep with some of the early trenches being dug to depths of up to 4 metres. All trenches were mapped and channel sampled towards the bottom of each trench. Overburden gravels and laterite materials were selectively sampled to investigate the geochemical dispersion in the regolith profile. A total of 3,921 (inclusive of quality control samples) samples were submitted to SGS laboratories in Kayes, Mali for fire assay gold determination. Approximately 50% of the results have been received and plotted at this stage.

Significant results to date include a 78 metre interval grading 0.89 g/t Au inclusive of a smaller interval of 10 metres grading 4.41 g/t Au. These values were calculated from results where high gold values were cut to 17.47 g/t Au (Mean plus 2 standard Deviations).

Saprolite Samples in Trench DAT003
From (m)	To (m)	Uncut Interval	Cut Interval
456	534	78 m @ 1.71 g/t Au	78 m @ 0.89 g/t Au
502	512	10 m @ 10.84 g/t	10 m @ 4.41 g/t Au

Mean (uncut)	1.71 g/t Au
Standard Dev	7.88 g/t Au
Top Cut-off	17.47 g/t Au	Mean+2 Standard Deviations

 

This interval relates to zone of quartz-feldspar porphyry ("QFP") dikes and associated minor quartz veinlets in a package of Birimian aged sediments which extend for almost 10 kms in a NNE direction. These QFP seem to be related to a series of gold in soil anomalies stretching in the same direction.  The structure is located underneath an extensive surface gold anomaly developed in lateritic soils. These results are significant as they indicate a wide zone of primary gold mineralisation underneath complex and transported overburden materials. Follow up work is being planned to fully explore this promising area.

Senegal Permits Joint Venture

AXMIN’s wholly owned Senegal Permits (Sounkounko, Heremokono and Sabodala NW ) are held under a joint venture with Sabodala Mining Company SARL ("SMC"), a wholly owned subsidiary of Mineral Deposits Limited whereby MDL may earn a 51% interest by spending US$2.5 million over three years. Thereafter, AXMIN may elect to participate in further expenditure on a pro rata basis, or dilute its interest to 20% in return for MDL expending a further US$3.5 million over the subsequent three year period. All exploration is managed by MDL.

Full details of 2009 trenching program.

Trench ID	X-utm	Y-utm	Az (deg)	Length (m)	Elevation (GPS)	Prospect	Permit
TDIA 014	186450	1488804	104	198	91	Diabougou	Soukounkou
TDIA 015	186427	1487467	124	590	92	Diabougou	Soukounkou
TDIA 016	187202	1486394	118	174	89	Diabougou	Soukounkou
TDIA 017	186336	1488379	128	92	90	Diabougou	Soukounkou
TDGO 014	186531	1477974	123	290	92	Diegoun North	Soukounkou
TDGO 015	188122	1477520	47	338	87	Diegoun North	Soukounkou
KAT 003	185414	1483691	98	554	96	KA	Soukounkou
KAT 004	186020	1483635	95	254	98	KA	Soukounkou
TA 006	183629	1475417	153	316	123	Zone A	Soukounkou
TA 007	183687	1475788	109	320	120	Zone A	Soukounkou
TA 008	183916	1475539	156	414	119	Zone A	Soukounkou
TB 001	185036	1474986	138	198	108	Zone B	Soukounkou
TB 002	185243	1475340	144	166	113	Zone B	Soukounkou
TB 003	185346	1475191	141	70	98	Zone B	Soukounkou
TD 006	182165	1471258	127	212	153	Zone D	Soukounkou
TD 006 ext	182348	1471138	128	110	143	Zone D	Soukounkou
Total				4,296

 

Analytical work is being carried out at the independent SGS Laboratories Ltd. in Kayes, Mali. Trench samples are subject to a full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks, standards and duplicates are being used to monitor laboratory performance during the analysis. This press release has been reviewed by François Auclair, M.Sc., PGeo, AXMIN VP Exploration, Member of Ordre des Géologues du Québec, Fellow of Geological Association of Canada; and by Martin Pawlitschek, Exploration Manager, Sénégal, MDL Independent both

 

Qualified Person under the National Instrument 43-101.

About AXMIN

AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. AXMIN’s goal is to move its Passendro Gold Project, Central African Republic towards production. AXMIN is positioned to grow in value as it develops its project pipeline in parallel pursuing new opportunities to increase its asset base. For more information regarding AXMIN visit our website at www.axmininc.com.

For additional information please contact AXMIN Inc.:

Mario Caron President & CEO Direct T: 416 368 0993 ext 223 Judy Webster Manager Investor Relations T: 416 368 0993 ext 221 ir@axmininc.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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. AXMIN disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.