Axmin Inc. - Gold In West & Central Africa

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Drilling Continues to Intersect High Grades at Gora Prospect, Senegal Including 7 Metres Grading 32 g/t Gold
TORONTO, ONTARIO--(Marketwire - June 23, 2010) - AXMIN Inc. (TSX VENTURE:AXM) is pleased to announce that the last ten holes in the Phase I, 51-hole reverse circulation (RC) drilling program at the Gora deposit has continued to yield high-grade intercepts, including the best intercept to date of 7 meters grading 32.0 g/t Au from 110 metres depth (including 1 metre at 181.0 g/t Au from 114 metres) in hole SKRC044. The Gora deposit is located on AXMIN's wholly owned Senegal gold permits (Sounkounkou, Heremakono and Sabodala NW) where its joint venture partner and operator, Minerals Deposits Limited (MDM-TSX) ("MDL"), is currently drilling as part of it's earn in program. The Gora prospect is located within the Sounkounkou permit approximately 25 km northeast of MDL's Sabodala processing plant.

The results from hole SKRC044 indicate a significant widening of the vein system at depth (please refer to the cross section and plan map). With the depth of the drill holes in the Phase I program averaging only 123 metres down hole (approximately 90 metres vertically), deeper drilling will be required to test the down dip extensions of the deposit, all of which remain open. These results augment those announced in press releases dated April 30, May, 10 and May 31, 2010.

Following the conclusion of the highly encouraging Phase I drill program, geological modelling and preliminary engineering analysis is being undertaken by MDL to better define the next phase of drilling, the purpose of which will be to both extend the deposit and determine the potential for a near-term open pit mineable mill feed for MDL's Sabodala Mine.

Please refer to the table below for full results on the remaining ten holes of the Phase I drilling program (true widths have not been calculated).

  Hole Number Depth (m)  Dip (deg)  To (m)  From (m) Length (m) Grade g/t Au
----------------------------------------------------------------------------
  SKRC 042          123        -51    77.0      79.0        2.0          9.0
  SKRC 043          123        -51    96.0      97.0        1.0          9.8
  SKRC 044          123        -50   110.0     117.0        7.0         32.0
                         including   114.0     115.0        1.0        181.0
  SKRC 045          123        -50                                       nsa
  SKRC 046          120        -50    39.0      43.0        4.0          0.5
                               and    82.0      85.0        3.0          1.9
  SKRC 047          123        -50    46.0      47.0        1.0          0.9
  SKRC 048          123        -50                                       nsa
  SKRC 049          123        -51    53.0      54.0        1.0          3.7
  SKRC 050          123        -51    82.0      83.0        1.0          4.2
  SRKC 051          123        -51                                       nsa
Note: Assays are undertaken at the Sabodala SGS laboratory by AAS utilising 
acid digest. Outside laboratory checks are undertaken by fire assay.
Senegal Permits Joint Venture

AXMIN's wholly owned Senegal Permits (Sounkounkou, Heremokono and Sabodala NW ) are held under a joint venture with Sabodala Mining Company SARL ("SMC"), a wholly owned subsidiary of Mineral Deposits Limited (TSX:MDM) ("MDL") whereby MDL may earn a 51% interest by spending US$2.5 million over three years. Thereafter AXMIN may elect to participate in further expenditure on a pro rata basis, or dilute its interest to 20% in return for MDL expending a further US$3.5 million over the subsequent three year period. All exploration is managed by MDL.

Analytical work is being carried out at MDL's Sabodala laboratory for rock chip samples and RAB drill samples with the independent SGS Laboratories Ltd. supervising assays of RC samples. Samples are subject to a full sample preparation with assaying carried out using an aqua regia digest with AAS finish. Blanks, standards and duplicates are being used to monitor laboratory performance during the analysis. RC drilling and trench samples are in the main 1 metre samples. These samples are assayed by fire at the SGS Laboratory at Kayes in Mali. This press release has been reviewed by Francois Auclair, M.Sc., PGeo, AXMIN VP Exploration, Member of Ordre des Geologues du Quebec, Fellow of Geological Association of Canada; and by MDL's Chief Geologist, Chris Young BSc, who is a member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists.
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