News ReleasesMay 5, 2011 AXMIN’S JOINT VENTURE PARTNER TERANGA GOLD ANNOUNCES HIGH GRADE GORA DEPOSIT ON AXMIN’S SOUNKOUNKOU PERMIT, SENEGAL Toronto, Ontario – May 5, 2011 – AXMIN Inc. (AXM-TSX Venture) is pleased to announce that Teranga Gold Corporation (TSX: TGZ) (“Teranga”), formerly Mineral Deposits Limited, has released an exploration update on AXMIN’s Senegal Permits, which are the subject of a joint venture between Teranga and AXMIN. The complete May 2, 2011 press release can be found on Teranga’s website www.terangagold.com. In the press release Teranga highlighted that early results at the Gora deposit have identified an inferred resource of 106,000 contained ounces of gold (543,000 tonnes at 6.0 g/t Au) and the deposit remains open in all directions. About AXMIN For additional information please contact AXMIN Inc.: George Roach Judy Webster 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 future plans and objectives of AXMIN; and statements regarding the ability to develop and achieve production at Passendro, to revalidate the BFS and to satisfy the terms of the Mining Licence as negotiated, 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 have been disclosed under the heading "Risk Factors" and elsewhere in AXMIN’s 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 resulting from new information, future events or otherwise, except as required by applicable law. |