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Oct 15, 2009

Axmin announces exercise of warrants

Toronto, Ontario – October 15, 09, AXMIN Inc. (AXM-TSX Venture) is pleased to announce that the Company’s major shareholder AOG Holdings BV (“AOG”), a wholly owned subsidiary of The Addax & Oryx Group Limited has exercised 4,000,000 common share purchase warrants at a price of Cdn$0.14 per share for a total consideration of Cdn$560,000.00. Following the exercise of the warrants AOG exercises control and direction over 151,525,326 common shares of the Company, representing 49.6% of the Company’s 305,679,901 issued and outstanding common shares.

After the exercise of warrants, AOG will hold 16,600,000 common share purchase warrants at an exercise price of Cdn$0.14 until April 21, 2012. The other common share purchase warrants remain unchanged. The net proceeds of the Placement will be used for gold exploration on the Company’s projects in central and west Africa, working capital, and general corporate purposes.


AXMIN is a Canadian exploration and development company with a strong focus on central and west Africa.  AXMIN has projects in Central African Republic, Mali and Sierra Leone. For more information regarding AXMIN visit our website at www.axmininc.com.

For additional information please contact AXMIN Inc.:

George Roach

President & CEO

Direct T:+44 779 626 3999


Judy Webster

Manager Investor Relations

T: 416 368 0993 ext 221


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 the completion of the Transaction and the Financing, the anticipated and actual terms and conditions of the Transaction and any definitive agreements entered into in connection with the Transaction 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 Exchange 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.