AXMIN Announces Mine Development Advisory Agreement and President Bozize Re-Elected with Majority Vote Ushering in a New Era of Stability for Central Africa Republic

Friday, 18 February 2011 14:59

AXMIN Inc. (AXM-TSX Venture) announce that it has entered into an agreement with Professor Alex du Plessis, a specialist in the design, development and operation of surface and underground mines globally. Under the Agreement, Alex du Plessis will provide advisory services required during the development of the Passendro Gold Mine and will assist in strengthening AXMIN’s operational and mine development expertise. Since the announcement of the positive revalidated feasibility study in late January, AXMIN is intent on maintaining its momentum at Passendro. With the assistance of Endeavour Financial Corporation, the Company continues to advance its debt financing negotiations and hopes to be in a position to update its shareholders on its progress in the near future.

Alex du Plessis has more than 30 years of mining industry experience. This experience includes mine design and operations, as well as the management of mine construction projects. In addition, he has worked in applied research and development for mining. Since 1990, Alex has consulted to a wide range of mining industry clients around the world, and has direct experience in mining projects in Canada, the United States, Asia, Australia, Eastern Europe, and south and central Africa. Alex is also a Visiting Adjunct Professor in the Centre for Mechanised Mining Systems at the University of Witwatersrand, Johannesburg.

President and CEO of AXMIN, Mr. George Roach, comments, “We are extremely pleased to have Alex assist us in the development of this tremendous asset, which will soon become the first modern gold mine in the Central African Republic (“CAR”). AXMIN’s appointment of Alex as advisor to the Passendro Gold Project will ensure that the Company has the engineering and project management expertise necessary to coordinate the work being undertaken by SENET and others to bring the Passendro resource into production.

Furthermore, AXMIN is very pleased with the outcome of the January 2011 elections in which the constitutional court in CAR declared President Francois Bozize re-elected on a wide margin of victory with 66% of the vote. The election was generally peaceful and uneventful. In a subsequent meeting with President Bozize, we have been encouraged by the President’s assurances of support and commitment to the development of this project. We strongly believe the CAR to be on the threshold of a new era of stability and prosperity.”

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