AXMIN: Update on the Passendro Project and Changes to Management

AXMIN Inc. (TSX VENTURE:AXM) ("AXMIN" or the "Company") is pleased to update its
shareholders on the Passendro gold project following Dickson's representatives
meetings in South Africa and the Central African Republic ("CAR") and its
subsequent Board of Directors meeting on July 25, 2013.


In early July, on behalf of the Company's new management team, Dickson
representatives and mine development team travelled to South Africa as part of
its extensive review of the Company's operations in the country and the status
of the work on its major project. Subsequently, AXMIN's senior management and
the Dickson representatives travelled to CAR to meet with President Michel
Djotodia, the Minister of Mines and the Minister of Transportation to discuss
the best way forward to ensure that the Passendro project is developed as
expeditiously and economically as possible. During the meeting in the CAR, the
government representatives reinforced their commitment to honour AXMIN's
agreements with the State and to create a safe and stable environment at the
Passendro Project so that the Company can resume its operations and properly
secure the site. AXMIN in turn stated its commitment to focus its capital and
its resources to advancing the project towards development. 


AXMIN's Chairman and Interim CEO, Lucy Yan comments, "The new management of
AXMIN looks forward to working with the government of the CAR to build a
relationship of trust, opening all lines of communication in order to address
any outstanding issues relating to the Passendro project. In these challenging
markets it is also imperative that the Company reduces its costs in both the
Toronto and South African offices to ensure over the long-term it remains a
viable entity and can develop the CAR's first modern gold mine." 


Following the Board of Directors meeting on July 25, 2013, given the current
market environment and the fiscal situation of AXMIN, the Company has made
commitments to lower costs and to redirect its focus specifically on building
value at its major asset, the Passendro gold project in the CAR. After extensive
review by management, directors and Dickson representatives of both the Toronto
and South African operations and in-light of the Company's primary objective to
reduce costs, AXMIN's management has made the decision to reduce the operations
in these locations and to terminate the following employees: Graham Hill, Chief
Operating Officer effective July 25, 2013, Janina Dusza, Chief Financial Officer
("CFO"), effective July 26, 2013 and Judy Webster, VP Investor Relations,
effective July 19, 2013. Moving forward, the Company will maintain two offices:
its corporate head office as well as its project office in the CAR. While these
were difficult decisions for the Company, they have significantly reduced the
expenses of the Company and will allow it to focus its capital on the
development of the Passendro Project. The Company looks forward to the
possibility of working with Mr. Hill, Ms. Dusza, and Ms. Webster in the future.


AXMIN also announces today that the Board of Directors has appointed Ms. Terry
Wong as the Company's CFO on an interim basis effective immediately. 


Ms. Wong is a Certified Management Accountant. She has over 8 years of financial
experience working for both, private and public companies. She has also worked
closely with companies and professionals within the finance, mining, and energy
industries. Ms. Wong has advanced knowledge of Canadian GAAP and IFRS
regulations. From July 2008 to April 2011, Ms. Wong acted as the Financial
Controller of Resinco Capital Partners Inc. ("Resinco"), a TSX listed Investment
Company, and since then, has acted in numerous financial roles in companies,
including as a CFO of a capital pool companies on the TSX Venture Exchange. Ms.
Wong received her BCOMM from the University of British Columbia.


AXMIN's Chairman and Interim CEO, Lucy Yan comments, "We are pleased to welcome
Terry to our senior management team. We are confident that Terry's expertise
with both international and Canadian capital and public markets will service
AXMIN well as it works to develop the Passendro gold project. Considering the
Company has no firm timeline when operations at Passendro can resume, it is
prudent that AXMIN reduces its expenses to conserve cash. As we move through the
remainder of this year I plan to update our shareholders on our activities and
progress as we work to develop this important asset." 


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
AXMIN Inc.
Lucy Yan
Chairman & Interim CEO
[e-mail]


AXMIN Inc.
Investor Relations
416-368-0993 ext 221
[e-mail]
www.axmininc.com