AXMIN Inc.: Passendro Project, Central African Republic, Continues To Grow With Three New Prospects And Continued High Grade Results.

TORONTO -- AXMIN Inc. (TSX VENTURE:AXM) is pleased to announce further results from its ongoing drilling and trenching program on the Bambari Permits in the Central African Republic.

Passendro Project

Drilling has continued since September 2005 with four rigs (two reverse circulation ("RC") and two core rigs) with the objective of upgrading and expanding the reported measured and indicated resources (as reported on July 5, 2005), both by upgrading resources from the inferred category and by new discovery.

New results on existing prospects include 36.0 g/t Au over 10 metres at Katsia East, 17.1 g/t Au over 4.5 metres at Katsia South and 5.0 g/t Au over 7.5 metres at Barbacoa. Please refer to AXMIN's website at www.axmininc.com for a complete listing of the recent drill results.

Three new prospects have yielded ore grade intersections over potentially mineable widths within the Passendro pre-feasibility area. Drilling is continuing with the objective of including these areas in updated resource calculations to be reported in 2006. Each have indicated strike lengths in excess of 200 metres. Results include 9.5 g/t Au over 8 metres at Katsia West (separate from Katsia and Katsia East) and 4.3 g/t Au over 10 metres at Bateleur. Assays are awaited from many holes in these prospects and from the adjacent Gap prospect.

Ndassima Project

The first assays from the trenching program at the Ndassima Project located 5 km south of the Passendro discoveries have yielded 4.2 g/t Au over 23 metres. Results from additional trenches within this substantial series of Banded Ironstone Formation ("BIF") hosted geochemical gold anomalies are awaited. Drilling will commence in December 2005 using core and rotary air blast rigs.

Dr Jonathan Forster, Chief Executive Officer notes "These new results from Passendro should enable AXMIN to significantly increase the measured and indicated resources through infilling of gaps in the inferred resources, through extensions to the existing zones and most importantly through new discoveries. The trench results from the new Ndassima Project, close to the Passendro Project, give us another potentially major new target which I found most encouraging during my recent field visit. As yet, we have only tested a small portion (less than 20%) of the Bambari gold belt where I expect continued growth as we move towards feasibility at Passendro (refer to press release July 5, 2005 and July 20, 2005)."

Detailed Drill Results

Drilling on prospects previously reported but not previously described in detail has shown the following:

Katsia East prospect: Infilling has confirmed the existence of a high grade north-northwest trending structure, similar to that previously reported for the Katsia prospect, over a strike length of at least 160 metres and open to the south-southeast and dipping at 40 degrees to the west. This has now been traced from surface to 50 metres vertical depth (70-80 metres down dip). The mineralisation occurs in 2-3 structures within a 30-40 metre corridor with each high grade zone of 2-18 metres width. The weighted average of all intercepts along the 160 metres is 9.7 g/t Au with the central 60 metres averaging 12.0 g/t Au.

Barbacoa prospect: The new drilling on 40 metre fences over a strike length of 220 metres shows that the northwest trending mineralisation occurs within three closely spaced structures with true thicknesses of 1-10 metres dipping at 50-60 degrees to the southwest and with a weighted grade (at 1 g/t Au cut off) of 3.8 g/t Au.

Baceta prospect: Drilling on 40 metre centres over a strike length of 250 metres shows that the northwest trending mineralisation occurs within hanging wall and footwall structures on either side of a 250 metre thick BIF dipping at 40-50 degrees to the southwest with individual true thicknesses of 3-15 metres and a weighted average grade of all intercepts (at 1 g/t Au cut off) of 2.5 g/t Au.

Analytical work is being carried out at the independent OMAC Laboratories Ltd. in Ireland. The samples are subject to a full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks (5%), pulp duplicates (5%) and a suite of Geostats standard reference material are being used to monitor sample preparation and laboratory performance during first pass analysis. Further QA/QC work is carried out on a quarterly basis. This comprises check assaying 20% of all greater than 500 ppb samples using prepped coarse reject samples at OMAC and a second laboratory. Check assay batches are also routinely monitored using 5% blanks, standards and pulp duplicates.

This press release has been reviewed by an in-house qualified person, Dr. Jonathan Forster, Fellow of the Institute of Materials, Mining and Metallurgy ("IMMM") in the United Kingdom.

AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa.

For more information regarding AXMIN visit our website at www.axmininc.com.

To view a map of the Passendro Project, Bambari Permits - Recent Drilling Program please click on the link below:

http://www.ccnmatthews.com/docs/axmm1122.pdf

The TSX Venture Exchange has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this press release.

AXMIN Inc. (TSX VENTURE:AXM)