AXM AXMIN INC

AXMIN Inc. (TSX VENTURE:AXM) ("AXMIN" or the "Company") is pleased to announce
that following the Special Meeting of Shareholders on May 23, 2013, the final
tranche of the previously announced private placement (the "Offering") has
closed. A total of 29,200,000 Units have been issued to Dickson Resources
Limited ("Dickson") today for gross proceeds of approximately C$4.38 million,
less commission and expenses. The proceeds have been released from escrow by the
subscriber Dickson. Each Unit consists of one common share and one-half of one
common share purchase warrant with each whole warrant entitling the holder to
acquire at any time until May 23, 2015 one common share for C$0.15 per common
share. 


The common shares and warrants are subject to a four month hold period, expiring
on September 25, 2013. Post-completion of the Offering AXMIN will have at total
of 108,940,881 common shares issued and outstanding. In connection with the
Offering to Dickson, AXMIN has agreed to pay to CWN Capital Inc. ("CWN") a cash
finders fee equal to 8% of the gross proceeds raised from Dickson on each
Closing Date and warrants to acquire common shares equal to 8% of the common
shares issued on each Closing Date for $0.15 per common share with such warrants
expiring two years from the date of issue. AXMIN has also agreed to pay to CWN a
solicitation fee equal to 8% of the aggregate exercise price of warrants issued
to Dickson pursuant to the Offering that are exercised prior to December 31,
2014.


Board of Directors Changes 

AXMIN would also like to announce the following changes to the Board of
Directors pursuant to the terms of the subscription agreement dated March 26,
2013 between AXMIN and Dickson. The changes to the composition of the Board are
expected to help AXMIN access other opportunities that have the potential of
providing a superior return to its shareholders.


Robert Shirriff and Alex du Plessis have agreed to step down as directors
effective May 24, 2013. AXMIN's management and board would like to thank both
Robert and Alex for their guidance and important contributions during their
respective terms and wish each all the best with their future endeavours.


Bright Chiu, a Dickson nominee, has been appointed to the Board, effective May
24, 2013. Mr. Chiu has an MSc from the highly respected Shanghai Jiao Tong
University and an MBA from the University of Illinois in Chicago. Bright is a
respected business consultant with over 12 years of international finance and
business experience. Bright brings important financial expertise and perspective
to the Board and we look forward to working with him.


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.


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,
Mozambique and Senegal. 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 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
AXMIN Inc.
George Roach
President & CEO
+44 779 626 3999


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

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