AXMIN Announces Corporate Development Advisory Agreement

TORONTO, ONTARIO -- (Marketwire) -- 12/20/10 -- AXMIN Inc. (TSX VENTURE: AXM) is pleased to announce that it has entered into an agreement (the 'Agreement') with Javelin Corporate Development Partners Inc. ('Javelin'), a corporate development and investor relations firm that provides the tools necessary for junior resource companies to enhance value and increase access to capital markets. Under the Agreement, Javelin will help to develop a comprehensive marketing and investor communications program to reacquaint the market to the significant upside potential of AXMIN. As part of its mandate, Javelin will be introducing AXMIN to analysts, brokers, money managers and other financial professionals. Javelin will not provide market making activities for AXMIN.

The Agreement is for a one year term, renewable by mutual agreement of both parties thereafter. Javelin will receive a monthly fee of C$10,000 (plus HST) in remuneration for its services, and is reimbursed for all approved expenses. Javelin is not related to the company and has neither direct nor indirect interest in the Company or its securities.

President and CEO of AXMIN, Mr. George Roach, comments, 'We are excited to have Javelin as our partner in a corporate development capacity. AXMIN fits well with Javelin's criteria of unlocking shareholder value in resource companies with high quality assets that are significantly undervalued. Recently, AXMIN reached a major milestone at its Passendro Gold Project. With the revalidation of the feasibility study nearing completion and the recent acceleration of its debt financing, AXMIN is now moving into a much more active phase of development. As result, we recognize the importance of broadening our communications program to further enhance shareholder value.'

About Javelin

Javelin is a Toronto based mining industry consulting firm that assists junior resource companies in effectively communicating their stories to the market. Clients are selected in instances where Javelin has identified opportunities to unlock and expose previously unrealized shareholder value. Launched in October 2010, the Javelin team is headed by Jed Richardson, Principal.

About AXMIN

AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. AXMIN has projects in Central African Republic, Mali, Mozambique, Sierra Leone, Senegal and Zambia. AXMIN is positioned to grow in value as it progresses its Passendro Gold Project towards development and builds on its project pipeline focusing on transitioning from an explorer to producer. 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 future plans and objectives of AXMIN; and statements regarding the ability to develop and achieve production at Passendro, to revalidate the BFS and to satisfy the terms of the Mining Licence as negotiated, 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.

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