2011 and 2012 continue to be a period of project growth and progress for AXMIN. Since the restructuring in 2010, the Company has made good progress namely:

• Completed the acquisition of AIM listed AfNat Resources and restructured the board and management;
• Agreed to sell the Kofi Gold Project to Avion Gold Corporation for cash and shares of Avion;
• In August 2010, AXMIN secured a 25 year Mining Licence for the Passendro project in CAR and two new Exploration Licences that ring fence the Mining Licence, were awarded;
• In January 2011, AXMIN announced the positive results of the revalidated Feasibility Study for Passendro;
• On February 2, 2011 AXMIN acquired the remaining interest in the Nimini East & West licences now holding 100% interest;
• In May 2011, AXMIN appointed Graham Hill as Chief Operating Officer strengthening the mine developement team;
• In July 2011, AXMIN executes Manadate Letter with The Standard Bank to arrange and underwrite up to US$100 million in debt financing.
• In June 2011, AXMIN's Senegal Permit JV partner announces inferred mineral resource of 106,000 oz gold at Gora deposit grading 6.0 g/t Au
• In September 2011, AXMIN closes the sale of 51% interest in its Sierra Leone assets to Polo Resources for US$7.5 million
• In December 2011, AXMIN closes the sale of the remaining 49% interest in Sierra Leone to Polo Resources for a futher US$9 million
• In January 2012, Four new financial institutions join the debt financing for an additional debt package of US$85 million
• In March 2012, AXMIN signs Mandate Letter with IFC for a further US$50 million in debt, this in addition to the previous Mandates executed makes a total debt facility of US$235 million

In continuation of its growth strategy, AXMIN's objectives for 2012 are:

• Passendro Gold Project, CAR – Secure debt facility and equity necessary to build the Passendro gold mine; add to the resources and reserves with the current drill program underway; and prepare for consturction with soft-start infrastructural upgrades and pre-production planning.
• Strategic Joint Ventures – monitor joint venture activity, dilute or increase interest to ensure best value for AXMIN shareholders