September 8, 04

UPDATE ON DRILLING PROGRAM AT BAMBARI, CENTRAL AFRICAN REPUBLIC

Toronto, Ontario – September 8, 2004, AXMIN Inc. (AXM-TSX Venture) is pleased to announce that drilling is scheduled to restart in mid-September at Bambari in the Central African Republic following a break for the wet season. The program is planned to continue through the forthcoming dry season and will focus on expanding the resource base with the aim of commencing a pre-feasibility study by mid-2005.

To date exploration at Bambari has concentrated solely on the Passendro project area where gold resources have been delineated on three prospects, known as French Camp, Katsia and Main Zone, all within a 3 km radius. Nearby, ongoing core drilling at Bacanga Head has intersected gold mineralisation in several holes the results of which will be published when sufficient work has been carried out to determine size and structural continuity. Additionally, elsewhere within the Passendro project area five target areas have been prioritised for reconnaissance drilling before the end of 2004.

A budget of US$1 million has been approved for the program to the end of 2004, with some 15,000 metres of reverse circulation, rotary air blast and core drilling scheduled. It is anticipated that the budgets and programs for 2005 will at least match those of 2004. AXMIN is in negotiations to purchase or contract additional rotary and core drilling rigs in order to accelerate the drill program and to supplement the four rigs already on site.

Chief Executive Officer, Dr Jonathan Forster comments “We are anticipating further exploration success over the forthcoming field season, with the potential to enhance substantially the initial 1.4 million ounces of gold resources in all categories currently identified on the Passendro project area. By expanding the program into the Ndassima and Ao project areas we will be looking for similar results to those at Passendro with any resources found in these new areas being close enough to Passendro to feed into a single plant.” Attention will also turn to two additional project areas, Ndassima and Ao (with Passendro, Ndassima and Ao all within a 10 km radius) where previous soil sampling and mapping has identified substantial gold in soil anomalies, very similar in character to those now demonstrated to be underlain by gold mineralization at Passendro. Drill targets in both areas will be prepared for drill programs scheduled for early 2005.

AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa.

For more information regarding AXMIN visit our website at www.axmininc.com.