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AXMIN Comments on Reports of Mine Collapse in the Central African Republic

Jun 26 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwired) -- 06/26/13 -- AXMIN Inc. (TSX VENTURE: AXM) ("AXMIN" or the "Company") comments today on a recent news report from Bangui, Central African Republic ("CAR") that there has been at least 37 deaths reported from a collapse of a pit, during heavy rains at a gold mine in Ndassima, CAR.

On December 24, 2012, AXMIN declared a Force Majeure with the State of CAR due to the escalating political volatility in country. Since that time, AXMIN has not had access to its Passendro project. Prior to the Force Majeure, AXMIN's operations were exploration in nature, resource and geotechnical drilling and some pre-production infrastructural upgrades of the roads.

AXMIN's CEO, comments, "AXMIN is deeply saddened to learn of the tragic loss of life at a mine collapse in an area of the Passendro gold project that has been unlawfully occupied by illegal artisanal miners since the Company declared Force Majeure in December 2012. The greatest risk to illegal artisanal mining activities is safety, where miners build tunnels and deep pits in unstable conditions. Following AXMIN's meeting in Bangui with representatives of the new transitional government, the State expressed its commitment to work with the Company to ensure full access and a stable environment at its Passendro Gold Project as quickly as possible, thus allowing AXMIN to resume operations and properly secure the site."

About AXMIN:

AXMIN is a Canadian exploration and development company with a strong focus on central, east and West Africa. AXMIN has projects in Central African Republic, Mozambique and Senegal. AXMIN is positioned to grow in value as it progresses its Passendro Gold Project towards development focusing on transitioning from an explorer to producer. For more information regarding AXMIN visit our website at www.axmininc.com.

About Dickson:

Dickson Resources Limited is an international private resources firm backed by the private capital of its founders. The company is a BVI registered company headquartered in Hong Kong. Having a team of geological and financial experts, Dickson is committed to investing internationally in the exploration and mining of natural resources. Meanwhile Dickson's scope of business reaches beyond the mining sector to international trade, marketing and advisory services which are all part of its business expertise.

This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of AXMIN; and statements regarding the ability to develop and achieve production at Passendro are forward-looking statements that involve various risks and uncertainties.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AXMIN's expectations have been disclosed under the heading "Risk Factors" and elsewhere in AXMIN's documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. AXMIN disclaims any intention or obligation to update or revise any forward-looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:
AXMIN Inc.
Judy Webster
Vice President Investor Relations
416 368 0993 ext 221
ir@axmininc.com
www.axmininc.com





Source: Marketwire


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