Final Results From French Camp Phase II Drilling Program Central African Republic.

AXMIN Inc. (TSX VENTURE:AXM) is pleased to announce the results from the final five drill holes in Phase II of the French Camp drilling campaign, which concluded in December 2003. The results confirm strong gold mineralisation within the previously outlined zone with hole PDC 32 having an intersection of 28.5 metres at 4.7 g/t Au. The other four holes (PDC 29, 30, 31 and 33) were designed to test the northwesterly and southeasterly extensions of the zone. They returned minimal to low values, however there is the possibility of a second zone to the southeast. Overall the French Camp drilling has confirmed the simple geometry of the zone and with a weighted average grade for all intersections of about 4 g/t Au indicating that it should be readily extracted by open pit. Ads by GoogleNaukri.com - Register Now Your Job Search Ends here! Top MNCs, Best Profile, High CTC. Naukri.com Oil & Gas World Assembly Register: Europe's Largest Business Conference for Oil &Gas Executives www.oilcouncil.com The exploration objective is to complete testing of the French Camp zone to a vertical depth of about 150 metres in parallel with completing systematic drilling at the nearby Katsia then to have an independent resource estimate prepared during the second quarter of the year. It is anticipated that additional prospects could be incorporated into this study. Finally assays from six additional holes are awaited. Four of these test new targets along strike and within 3 km of French Camp and two holes are from the follow up program at Katsia. Chief Executive Officer, Dr Jonathan Forster comments "The systematic drilling at French Camp has confirmed the presence of a potentially economic orebody, with the possibility of a second zone to the southeast. Moreover, we now have a far better grasp on the style of the gold mineralisation and can apply the model to at least five other targets within a radius of five km. With follow up drilling already restarted at Katsia, and with Main Zone also scheduled for work, we are pleased to be able to increase our planned program for the year to over 30,000 metres to enable us to start to quantify the potential of this Permit." The next round of drilling at French Camp will target the zone at depth to test the down plunge extensions and will step out to test the remainder of the French Camp soil anomaly, where previous reconnaissance holes indicate the potential for a separate mineralised structure. A geological model for the French Camp has been established on the basis of eighteen core holes, which have been drilled on a systematic 40 metre by 40 metre grid (refer to accompanying table). The zone has been defined to an average vertical depth of 110 metres over a length of 200 metres. One hole has demonstrated vertical continuity of the zone to a depth of 140 metres. The French Camp zone is modeled as a northwest trending zone within banded ironstone formation ("BIF"), with at least two closely associated mineralised structures, one in

each of the hanging and footwall. The zone dips at between 50-65 degrees to the southwest, roughly parallel to the slope of the topography and incorporates a central high-grade shoot that appears to plunge to the northwest at about 55 degrees. The true width of the zone is interpreted to range from 15 to 33 metres along its length (average about 22 metres) and that of associated structures averaging about 5 and 8 metres. As the gold is hosted almost entirely in the dense BIF, initial density measurements for the mineralised rock are about 2.8 g/cc in the oxide zone and 3.4 g/cc in sulphides. A weighted (uncut) average grade of all the intersections in the zone, using a 0.5 g/t Au cut off and including the hanging and footwall structures is calculated at about 4 g/t Au. Analytical work is being carried out at the independent OMAC Ltd. laboratory in Ireland. The core samples are being subjected to a full sample preparation followed by a 50-gram fire assay with an AA finish. Core blanks (5%) are being used to monitor laboratory performance during first pass analysis. A full QA/QC program will be coordinated on 20% of all greater than 500 ppb samples at the end of the program and will include 5% blanks standards and duplicates. This press release has been reviewed by an in-house qualified person, Dr. Jonathan Forster, Fellow of the Institute of Materials, Mining and Metallurgy ("IMMM"). AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across Africa, principally in the Central African Republic, Mali and Burkina Faso. For more information regarding AXMIN visit our website at www.axmininc.com.
All French Camp drill results are reported below. All of the final five holes (PDC 29, PDC 30, PDC 31, PDC 32 and PDC 33) are highlighted: Hole No. Total North East Azimuth Declin. Depth Co-ord Co-ord (deg) (deg) (m) (Fence) -------------------------------------------------------------------PDC 33 136.8 460N 1683W 057 - 50 PDC 27 127.8 420N 1667W 057 - 50 PDC 28 95.5 420N 1560W 057 - 70 PDC 22 89.3 420N 1595W 057 - 70 PDC 24 155.1 380N 1670W 057 - 70 and and PDC 1 45.4 380N 1585W 057 - 50 including PDC 2 86.2 380N 1585W 057 - 70 including PDC 5 69.7 380N 1555W 057 - 70 and PDC 6 100.0 380N 1630W 057 - 70 including PDC 25 114.6 340N 1625W 057 - 70 and and PDC 32 75.6 340N 1587W 057 - 70 including

PDC 3 PDC 4 PDC 21 PDC 23

69.5 110.0 87.6 122.1

300N 300N 260N 260N

1595W 1628W 1600W 1640W

057 057 057 057

PDC 26 PDC 29 PDC 30 PDC 31 PDC 7 PDC 8

95.2 134.1 89.1 131.0 100.2 61.9

220N 220N 180N 180N 140N 140N

1610W 1655W 1610W 1650W 1540W 1500W

057 057 057 057 057 057

and - 70 including including - 70 including including - 70 including and - 70 and and including and - 70 and - 70 - 70 and and - 70 - 70 - 70

Hole From To Interval Grade No. (m) (m) (m) (g/t Au) ----------------------------------------------------------PDC 33 NSI PDC 27 84.3 100.8 16.5 3.9 PDC 28 NSI PDC 22 24.8 48.8 24.0 0.3 PDC 24 56.0 66.5 10.5(1) 6.2 101.1 110.1 9.0 1.7 119.1 141.0 21.9 4.0 PDC 1 18.5 35.0 16.5(1) 8.5 25.8 35.0 9.2 14.3 PDC 2 17.5 51.9 34.4 3.2 29.2 35.2 6.0 8.9 PDC 5 7.9 15.3 7.4 5.2 28.5 44.3 15.8 2.2 PDC 6 55.5 96.5 41.0 4.9 64.8 80.0 15.2 6.7 PDC 25 20.1 36.6 16.5 3.8 56.1 82.5 26.4 5.9 99.5 114.6(2) 15.1 2.1 PDC 32 9.6 38.1 28.5(3) 4.7 24.6 37.4 12.8(3) 8.0 51.6 59.1 7.5(3) 1.2 PDC 3 30.5 61.0 30.5 3.9 35.0 45.0 10.0 6.3 53.0 60.0 7.0 4.9 PDC 4 68.0 110.0(2) 42.0 2.8 75.5 86.0 10.5 6.3

PDC 21 PDC 23

PDC 26 PDC 29 PDC 30 PDC 31 PDC 7 PDC 8 NSI 1 2 3 -

97.4 33.5 35.0 66.1 48.6 74.1 84.6 86.1 114.8 50.2 80.0 107.1 50.1 65.1 80.1 NSI 89.9 53.7

105.3 57.5 53.0 70.8 51.6 80.1 110.1 102.6 117.6 54.7 81.0 108.6 56.1 66.6 81.6 95.2 55.0

7.9 24.0 18.0 4.7 3.0 6.0 25.5 16.5 2.8 4.5 1.0 1.5 6.0 1.5 1.5 5.3 1.3

3.0 5.6 7.0 1.8 2.6 1.9 2.9 3.6 1.7 1.7 6.6 1.0 1.5 1.3 1.5 1.8 2.6

- no significant intersection poor core recover hole ended in gold mineralisation includes an interval of 1.5 metres not sampled due to core loss, and treated as having zero grade