The Project is situated in the central-west Kono region of Sierra Leone, some 330 km east of the capital Freetown.

The principal Sierra Leone asset is the Komahun Gold Project which is located within the wholly-owned Nimini Hills West Licence. Komahun has an Indicated Mineral Resource of 370,000 tonnes grading 9.1 g/t Au (110,000 ounces) and an Inferred Mineral Resource of 3.1 million tonnes grading 4.3 g/t Au (435,000 ounces). The remaining licences in Sierra Leone, being Nimini Hills East and Matotoka each are at an early stage of exploration.

President and CEO of AXMIN, Mr. George Roach, comments, “We have elected to realize immediate value for the Sierra Leone assets as it is our belief that real value for our shareholders lies in advancing the Passendro gold project towards development rather than to tie-up the funds required to extract value from a minority interest in a longer term exploration play. AXMIN now has sufficient cash on hand to allow the Company to meet its upcoming commitments including its final payment obligation to the Government of Central African Republic; the initiation of the mine development infrastructural upgrades at Passendro and for the Company’s planned exploration programs.”

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