Vancouver, British Columbia--(Newsfile Corp. - December 19, 2016) - AXMIN Inc. (TSXV: AXM) ("AXMIN" or the "Company") is pleased to announce that the Government has granted AXMIN, as of November 28, 2016, an extension for the period of one year for the Bambari 1 and 2 Exploration Licenses (the "Licenses"); and an extension for the period of one year to begin the development and pre-production work at the Passendro Gold Project.
On November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued Ministerial Order No 245/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year to start the development and pre-production work at the Passendro Gold Project to SOMIO Toungou SA, a wholly-owned subsidiary of the Company. The period of the Exemption is valid within a duration of one (1) year starting from November 28, 2016.
Also on November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued the Ministerial Order No 246/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year for exploration and research of the primary layer of gold and others related to substances of Licenses of BAMBARI 1 and 2 to Aurafrique SARL, a wholly-owned subsidiary of the Company. The period of the Exemption is valid within a duration of one year from November 28, 2016 to November 27, 2017.
Under these two exemption certificates, the Company is bound to resume the development work and setting production of the gold mine within a reasonable delay. The Company is also bound to provide technical, material and financial support to the Department in charge of Mines if the need arises.
President and CEO of AXMIN, Ms. Lucy Yan, comments, "These Exemption Certificates represent a positive step forward and we are very appreciative of the Government's support to AXMIN. With the support of local Government, the Company is fully committed to the development of the Passendro Gold Project and it is our hope that it will contribute greatly to the local economy."
About AXMIN
AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. AXMIN intends to build on its projects in Senegal, as it continues to monitor the political situation at its Feasibility Stage Passendro Gold Project in the Central African Republic. For more information regarding AXMIN visit our website at www.axmininc.com.
