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TORONTO, ONTARIO--(Marketwire - Jan. 4, 2010) - AXMIN Inc. (TSX VENTURE:AXM) further to AXMIN's press release of December 3, 2009, the Company announces that Toro and AXMIN have not been able to agree on an alternative transaction structure and Toro and AXMIN are no longer in discussions regarding any transaction.

AXMIN is continuing to assess and review its prospects and options. There can be no assurance that any transaction will be available and, if available, what consideration AXMIN shareholders may be offered under any such transaction.

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, Sierra Leone and Senegal. 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, 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.