AXMIN Announces Changes in Board of Directors and Management

Vancouver, British Columbia--(Newsfile Corp. - March 2, 2020) - AXMIN Inc. (TSXV: AXM) (the "Company" or "AXM") announces the resignation of its Chief Financial Officer and member of the Board of Directors, Mr. David de Jongh Weill, effective February 28, 2020.

"It has been very satisfying to see how this Company has evolved over the past year. I'm excited to pass on the baton to my successor and will be actively following the progress of the company," says Mr. Weill.

CEO and Chairman of AXMIN, Ms. Lucy Yan, comments, "On behalf of the entire Board of Directors, I would like to thank David for his many contributions to AXMIN over the past years and we wish him all the best in his other ventures."

The Company would also like to announce the appointment of Ms. Terry Wong as a director of the Company, subject to the approval of the TSX Venture Exchange.

Ms. Wong is a Chartered Professional Accountant and a Chartered Business Valuator. She has over 15 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.

Ms. Yan comments, "We are pleased to welcome Terry to AXM's Board of Directors. We are confident that Terry's expertise with both the Greater Chinese and Canadian capital and public markets will service AXM well as the company moves forward with its partnership with AU Metals Limited."

The Company would also like to announce the appointment of Ms. Yan as Interim CFO while a suitable replacement is found.

About AXMIN

AXMIN is a Canadian exploration and development company with a strong focus on the African continent. AXMIN continues to closely monitor the political situation at its Passendro Gold Project in the Central African Republic. For more information regarding AXMIN visit our website at www.axmininc.com. Please also follow us on Facebook. https://www.facebook.com/axmininc For additional information, please contact AXMIN Inc.:

Lucy Yan
Chairman and CEO
ceo@axmininc.com

AXMIN Inc.
Investor Relations
ir@axmininc.com
www.axmininc.com

This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All information, other than statements of historical fact included herein, including without limitation, information regarding the future option grant plans and objectives of AXMIN, are forward-looking information that involves various risks and uncertainties.

There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such information. 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 information 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53000