AXMIN Announces Recent Board Changes

TORONTO, ONTARIO -- (Marketwire) -- 06/29/10 -- AXMIN Inc. (TSX VENTURE: AXM) is pleased to announce that at the Company's Annual and Special Meeting of Shareholders Mario Caron, Jean Claude Gandur, Francois Jaclot, Robert Jackson, Robert Shirriff and Anthony Walsh were elected as Directors of the Company. Subsequently, as announced on June 3, 2010 and as a result of the completion of the AfNat Transaction, Messrs. Gandur, Jackson, Jaclot and Walsh have stepped down from the Board of Directors to be replaced by Ms. Ozge Erdem and Messrs. Alexander Dann, George Roach and David de Jongh Weill. At the Board meeting held thereafter the Board was increased to seven (7) directors and Mr. Robert Metcalfe was appointed to the Board. As a result the current AXMIN Board consists of Ms. Erdem, Messrs. Caron, Dann, Metcalfe, Roach, Shirriff and Weill.

George Roach, President and Chief Executive Officer comments 'It was a pleasure to address our shareholders today at my first Annual Meeting for AXMIN. At this time I would like to thank the directors who are stepping down, Messrs. Gandur, Jaclot, Jackson and Walsh for their time and service and the valuable contributions their guidance has provided. Looking forward, I am confident that we have the skills and leadership in place to facilitate AXMIN's transition from explorer to developer and eventual producer.'

Also at the meeting the shareholders approved the continuation of the Company's Stock Option Plan. AXMIN would also like to report the granting of stock options to non-executive directors, officers, employees and the Investor Relations Manager of the Company for 23,350,000 common shares of the Company exercisable at Cdn$0.10 each expiring on June 28, 2015. These stock options have been granted in accordance with the Company's Stock Option Plan 2005. Immediately following this award of stock options the Company had on issue and outstanding stock options for 28,855,000 common shares of the Company and there were 22,569,723 common shares of the Company available for future grant.

AXMIN would also like to remind shareholders that the webcast of the Annual and Special Meeting of Shareholders including the Company Update, held on Tuesday, June 29, 2010 is available on the Company's website at www.axmininc.com.

About AXMIN

AXMIN is a Canadian exploration and development company with a strong focus on Sub-Saharan Africa. AXMIN has projects in Central African Republic, Mali, Mozambique, Sierra Leone, Senegal and Zambia. For more information regarding AXMIN visit our website at www.axmininc.com.

This press release includes certain 'Forward-Looking Statements.' All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the completion of the Transaction and the Financing, the anticipated and actual terms and conditions of the Transaction and any definitive agreements entered into in connection with the Transaction and future plans and objectives of AXMIN, 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 are disclosed under the heading 'Risk Factors' and elsewhere in AXMIN 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 as a result of 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.

George Roach

President & CEO

Direct T: +44 779 626 3999


AXMIN Inc.

Judy Webster

Manager Investor Relations

416 368 0993 ext 221
ir@axmininc.com
www.axmininc.com