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Author Topic: AXM.V - Axmin Inc. (Gold Royalty & Producer)
chiliandrillman
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IMF, China, and EU announce three new sources of funding for the Central African Republic:

EU mobilises over €18 million for the Central African Republic in 2019 -

https://moderndiplomacy.eu/2019/06/24/eu-mobilises-over-e18-million-for-the-cent ral-african-republic-in-2019/

Central African Republic: China Donates 16 Billion FCFA - http://news.abangui.com/h/68751.html

IMF Executive Board Completes Sixth Review - https://www.imf.org/en/News/Articles/2019/07/01/pr19259-central-african-republic -imf-exec-board-completes-6th-rev-ecf-arrange-approves-disbursement

Close to $80 million USD between the three sources.

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Axmin grants options to buy 3.75 million shares

2019-07-04 05:40 MT - News Release


Ms. Lucy Yan reports

AXMIN GRANTS STOCK OPTIONS

Axmin Inc. has granted stock options to directors, officers and advisers of the company for an aggregate of 3.75 million stock options of the company exercisable at 60 cents, effective July 2, 2019. The options shall expire and terminate on July 2, 2024.

These stock options have been granted in accordance with the company's stock option plan 2005. Immediately following this award of stock options, the company has issued and outstanding stock options for 11.65 million common shares of the company and there were 1,773,738 stock options of the company available for future grant.

About Axmin Inc.

Axmin is a Canadian exploration and development company with a strong focus on Central Africa and West Africa. Axmin is positioned to grow in value as it progresses its Passendro gold project toward development and builds on its project pipeline focusing on transitioning from an explorer to producer.

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.

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Hundreds of militia fighters disarm in C. Africa peace plan

https://www.yahoo.com/news/hundreds-militia-fighters-disarm-c-africa-peace-plan- 183407555.html

Hundreds of militia fighters disarm in C. Africa peace plan

July 17, 2019

Bangui (Central African Republic) (AFP) - Hundreds of fighters from several militia groups in conflict-torn Central African Republic have laid down their weapons, the United Nations said on Wednesday, as the impoverished country struggles to end bloodshed among armed groups that control vast swathes of territory.

The nation, gripped by crisis since a 2013 coup, is striving to disarm and demobilise some 14 rebel groups as part of its latest peace efforts, which are supported by the UN peacekeeping mission MINUSCA.

So far, "five groups are already engaged in the process, disarming more than 450 fighters" in the west of the country, MINUSCA's deputy chief Kenneth Gluck told a press conference in the capital Bangui.

Among these he highlighted the Democratic Front of Central African People (FDPC), which he said had been "completely disarmed", adding that fighters of the Revolution and Justice (RJ) and the UFR-anti-Balaka militias had also given up arms.

He said the 3R militia group, blamed for the massacre of more than 50 civilians in May, has also pledged to lay down its arms.

The bloodshed in villages near the northwestern town of Paoua, close to the border with Chad, was the worst single loss of life since the government and the 14 militias signed the deal in February aimed at restoring peace to one of Africa's most troubled countries.

The largely Muslim Seleka ("alliance") coalition that ousted president Francois Bozize 2013 was officially dissolved the same year before fragmenting into separate groups including the 3R.

Nominally Christian militias called the anti-Balaka emerged in response to the coup, accelerating a cycle of sectarian violence.

UN envoy Mankeur Ndiaye stressed the importance of dialogue in ending the unrest, saying: "There is no military alternative to the Central African crisis."

With some 11,650 troops and 2,080 police deployed, according to the United Nations, MINUSCA's top priority is to protect civilians and stem the daily violence.

Former colonial power France intervened militarily from 2013 to 2016 to expel the Seleka, and then wound down the operation.

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United Nations eases arms embargo on Central African Republic

As AXM(Axmin Inc) shareholders wait for news from the current company blackout, we are greeted with some positive news from the Central African Republic. This will help stabilize and secure the country, therefore allowing Axmin to return to Passendro in due time.

https://www.timesnownews.com/international/article/united-nations-eases-arms-emb argo-on-central-african-republic/487760

Since 2013, the United Nations has enforced a total arms embargo, except for exemptions approved in 2017 with French and Russian backing to equip newly formed army units.

The UN Security Council on Thursday unanimously approved the easing of an arms embargo on the Central African Republic for the first time since 2013 when it was engulfed in violence. Drafted by France, the resolution authorizes the country's security forces to be supplied with weapons of a caliber of 14.5 mm or less provided that the UN has been notified at least 20 days in advance.

The notifications must specify the type, caliber, quantity and serial or lot numbers of the weapons as well as the manufacturer and supplier. And under no circumstances, can the weapons be sold or transferred to third parties, according to the resolution.

"It remains to be seen when there can be a further easing," said a diplomat. "The hope is there won't be too many weapons entering the country, especially weapons the state cannot control."

"The number of weapons entering the country must correspond to real needs," the diplomat added.

The Central African Republic, a country of 4.5 million people, plunged into violence and chaos in 2013 after President Francois Bozize was ousted from power by Seleka rebels. The state controls only a small part of the national territory, as armed groups fight in the provinces over resources like diamonds, gold or livestock.

Since 2013, the United Nations has enforced a total arms embargo, except for exemptions approved in 2017 with French and Russian backing to equip newly formed army units.

The UN has 13,000 peacekeepers deployed in the Central African Republic. In February, the government reached a peace agreement with 14 armed groups that led to the formation of a new government that includes representatives of the groups.

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2019-11-29 06:28 MT - News Release

Ms. Lucy Yan reports

AXMIN ANNOUNCES FINANCIAL RESULTS FOR THE NINE MONTHS ENDING SEPTEMBER 30, 2019 AND OPERATIONS UPDATE

Axmin Inc. has released highlights from its unaudited interim financial report for the nine months ended Sept. 30, 2019. All amounts included in this news release are in U.S. dollars.

Financial results:
During the three months ended Sept. 30, 2019, the company did not receive royalty income as the Gora project is now complete. For the nine-month period, Axmin received royalty income of $563,028.
The net loss for the three months ending Sept. 30, 2019, was $817,006 of which $689,955 was due to accounting for the issuance of share options to directors and management during the quarter. Net of this allowance, the net loss was $127,051.
Liquidity and capital resources:
As at Sept. 30, 2019, the company had cash on deposit in the amount of $1,396,303.
Operations update

Axmin and the government of the Central African Republic (CAR) have been in extensive discussions over the last several months as to the development of the company's Passendro deposit. Both the company and the government of the CAR wish to see a rapid development of the asset, however the security situation in the area surrounding the company's development area has unfortunately not stabilized as quickly as the government and the company anticipated. This is expected to improve in the near term, and in the interim the company is starting activities that are practicable given the current situation.

Axmin has the requisite equipment in country to commence an initial site survey to further the previously defined site reclamation and rapid production plan. The implementation of this survey is in process and the company will provide timely updates on the social media platforms.

The company has also identified several humanitarian projects that have high positive social impact but low capital expenditure that are being commenced at this time. It has always been the company's intention to work for the benefit of all stakeholders in the project and improving the lives of the residents in the village near the company's asset is clearly in line with these goals.

The negotiations as to the choice of strategic partner have also been delayed slightly due to the security situation but talks are on going and meetings will be held in Beijing in early December in this regard.

About Axmin Inc.

Axmin is a Canadian exploration and development company with a strong focus on central and West Africa.

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.

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chiliandrillman
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Central African Republic: Council establishes a civilian advisory mission

https://www.consilium.europa.eu/en/press/press-releases/2019/12/09/central-afric an-republic-council-establishes-a-civilian-advisory-mission/#

Council of the EU Press release 9 December 2019 10:45

Central African Republic: Council establishes a civilian advisory mission

The Council established a European Union CSDP civilian advisory mission in the Central African Republic (EUAM RCA). The mission will be launched by the Council no later than in the spring of 2020. Accordingly, a core team will make the necessary preparations to allow the mission to reach its initial operating capability.

The aim of the mission is to support the reform of the internal security forces to enable the Central African Republic (CAR) authorities to mitigate the current security challenges in the country. EU experts will support the Ministry of the Interior and the internal security forces, the police and the gendarmerie, with the aim of helping in their deployment throughout the country.

In a phased, scalable and modular approach, EUAM RCA will provide advice to the CAR authorities at the strategic level to support the sustainable transformation of CAR internal security forces into a coherent and accountable security provider operating under national ownership. The mission will coordinate closely with the military EU Training Mission (EUTM RCA), the UN MINUSCA mission and the international community.

The mission will be established in accordance with the crisis management concept (CMC) that was approved by the Council on 21 November 2019 and the subsequent operational planning documents. The CAR will be the third country to receive support in parallel from both military and civilian CSDP missions after Mali and Somalia.

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While we wait for AXM's Q2 financial/MD&A results to come out shortly(unless it's delayed like last quarter), Teranga Gold filed a new 43-101 and it clearly shows in the maps on Sedar(link below) that they added 4 new targets on the JV claim with Axmin. Those four targets are 20% unless converted to a 1.5% NSR. We are also waiting for results from their drill program. This means AXM has 20 targets now, compared to 16(all 1.5% NSR).

AXM should hopefully have an update on it's CAR legal case as well in the next MD&A

TGZ Sedar link - https://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00030562

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Q2 results came out last friday and it looks like progress is being made on Passendro and the Bambari expansion leases, as per the MD&A highlight below. Also keep in mind that Axmin Inc has updated their website which is nice to see, so hoping for a new company presentation soon. Teranga Gold is drilling/sampling on our JV claim and we have 4 new targets, with a total of 20 now.

Page 6 on the MD&A:

On June 8, 2020, Aurafrique and Somio Tongou, through its lawyers, Cabinet Mboli-Goumba & Associes, filed a request for arbitration with the government of the Central African Republic and the Chambre Arbitrale Internationale de Paris for its permits On July 24, 2020, the Ministry of Mines and Geology of the Central African Republic accepted the request from Aurafrique and Somio Tongou for arbitration with the Chambre Arbitrale Internationale de Paris for the status of their properties. On August 18, 2020, the parties agreed that the location of the arbitration be the city of Abidjan, Côte d’Ivoire.

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Here is an update on Senegal and CAR, with regards to Axmin's involvement.


Senegal - As mentioned last time, Teranga Gold announced an updated mineral report. This report did show 4 new targets that AXM owns 20% interest in(Page 88 in the 43-101 from Teranga), unless convereted to a royalty. But on top of that, if you look closer at the report, there is still 50,000 ounces of gold left at Gora, which is a target that has already produced over 400,000 ounces of gold and paid Axmin millions in royalties(see Page 256 in the 43-101 from Teranga). So at $2,000 gold, this is another $1.5 million USD in revenue that Axmin still has to collect.


CAR - Today an important article came out which shows the United States sanctioning Russian companies in the Central African Republic. This is important because the transaction that would of occured in regards to the sale of Passendro to Midas(Russian Company) can no longer occur. This puts Axmin in a stronger negotiating position with regards to getting back both the Passendro mine and expansion leases. Only Russia and China have worked in CAR for the last several years, making Axmin one of the only true feasible options of getting the gold mine in production.


Link to new article: https://home.treasury.gov/news/press-releases/sm1133


From the last MD&A: On June 8, 2020, Aurafrique and Somio Tongou, through its lawyers, Cabinet Mboli-Goumba & Associes, filed a request for arbitration with the government of the Central African Republic and the Chambre Arbitrale Internationale de Paris for its permits On July 24, 2020, the Ministry of Mines and Geology of the Central African Republic accepted the request from Aurafrique and Somio Tongou for arbitration with the Chambre Arbitrale Internationale de Paris for the status of their properties. On August 18, 2020, the parties agreed that the location of the arbitration be the city of Abidjan, Côte d’Ivoire.

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Axmin Inc. November 12th 2020 Company Presentation - http://www.axmininc.com/images/AXMIN%20INC%20AGM%20PPT.pdf

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Axmin Inc's JV Partner, Teranga Gold, To Be Acquired By Endeavour Mining

Endeavour Mining to acquire rival Teranga Gold for $2.44 billion

- Good to see this transaction happen. Teranga Gold has not been able to move fast enough in Senegal due to financial constraints. Now with the combined company, Endeavour can assist better in proving up the JV Sounkoukou claims with Axmin.

https://www.bnnbloomberg.ca/endeavour-mining-to-acquire-rival-teranga-gold-for-2 -44-billion-1.1522918

Endeavour Mining Corp., the acquisitive gold producer backed by Egyptian billionaire Naguib Sawiris, agreed to buy Teranga Gold Corp. in the latest deal to reshape the sector.

After Barrick Gold Corp. and Newmont Corp. two years ago created behemoths that dwarf the rest of the industry, other gold miners are trying to consolidate to remain relevant to shareholders. Helped by record gold prices, that’s led to a flurry of deals across the sector as smaller producers beef up their scale.

Endeavour said last week it was discussing a “merger of equals style” deal with Teranga after the talks were first reported by Bloomberg. Endeavour is offering 5.1 per cent premium to Teranga’s closing price on Friday, valuing its equity at C$2.44 billion (US$1.86 billion), according to Bloomberg calculations.

The combined company will produce about 1.5 million ounces of gold a year across West Africa, making it one of the 10 largest producers. It also plans to seek a listing on the London Stock Exchange, a long-term goal of Endeavour Chief Executive Officer Sebastien de Montessus.

London has become a go-to destination for gold-miners in the past year as companies seek to fill the gap left by Randgold Resources Ltd., a former investor favorite that delisted when it was bought by Barrick in a deal that set the tone for low or zero premium combinations in the industry.

Since Randgold left, Yamana Gold Inc. and Wheaton Precious Metals Corp. have both secured listings in London, though unlike Endeavour they have not sought premium listings that make them eligible for the FTSE 100 index.

“The combined entity will become a new senior gold producer and enjoy an improved capital markets profile, underpinned by a healthy balance sheet and strong cash flow capabilities to support a sustainable dividend,” de Montessus said in Monday’s statement.

Endeavour is offering 0.47 of its own shares per Teranga share. That means existing Endeavour and Teranga shareholders will own approximately 66 per cent and 34 per cent, respectively, of the combined company.

La Mancha, the vehicle which Sawiris holds his stake in Endeavour, will invest a further US$200 million into the combined company, leaving it with a 19 per cent stake. Teranga’s biggest shareholders, including Barrick, support the deal.

A successful deal would extend a years-long transformation by Endeavour, which has replaced high-cost mines with two new flagship projects that produce more gold and will operate for much longer. Teranga has assets in Senegal, Burkina Faso and Ivory Coast, including the Massawa project it bought from Barrick.

The deal is expected to close in the first quarter of 2021.

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Axmin Q3 Results Out. Two Updates From The MD&A:

Page 5: The Company has been advised that Presidential and legislative elections will be held simultaneously on December 26, 2020, with results to be officially announced one week after the elections. On November 2, 2020, the Company has received notice from Central African State to confirm in participating in the mediation process with the company’s subsidiaries AURAFRIQUE SARL SOMIO TOUNGOU SA. Mediation between the Company and the Central African State is progressing and practical arrangements are being made to resolve the difficulties within a short period of time. The date will be further confirmed from the arbitral chamber. The Company has received notice that the Central African State will be represented by Flavien Mbata, Minister of Justice and Human Rights, and Léopold Mboli Fatran, Minister of Mines and Geology in the arbitration.

Page 7: On November 16, 2020, Endeavour Mining Corporation (TSX:EDV) and Teranga announced that they have entered into a definitive agreement whereby Endeavour will acquire all of the issued and outstanding securities of Teranga. In their joint press release, the companies stated that the combination would “leverage Endeavour’s West African operating model to extract significant financing, operating and capital synergies across all of Teranga’s assets [including] Sabodala-Massawa, in Senegal, to become a flagship asset alongside Ity and Houndé with the potential to become a top tier asset given its high grade, low cost, long mine life, large reserves and significant exploration potential.” The Company is in discussions with Teranga regarding the 5 proposed targets within Bransan Lot C on whether the Company will participate in the exploration, which will include funding 20% of proposed work costs, or elect to convert to a 1.5% net smelter royalty.

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Ndassima gold mine: Touadéra seeks a compromise with the Canadian company Axmin
This article came out June 8th 2021 via African Intelligence, the same site that first reported Axmin losing their mineral rights in 2020. Therefore the credibility of this website's intel has legitimacy.

Below is the paid link, and also the free link, which has been translated from French to English:

https://www.africaintelligence.com/mining-sector_financing-and-advisory/2021/06/ 08/touadera-seeks-compromise-with-axmin-over-ndassima-goldmine,109671815-art

https://corbeaunews-centrafrique.com/mine-dor-de-ndassima-touadera-cherche-un-co mpromis-avec-la-societe-canadienne-axmin/

Ndassima gold mine: Touadéra seeks a compromise with the Canadian company Axmin
Through Corbeaunews Central African Republic -Posted on June 8, 2021, 8:56 AM
Bangui, Central African Republic, Wednesday, June 9, 2021 (Corbeaunews - Centrafrique). The Central African state and the Canadian mining company Axmin, headed by Chinese businesswoman Lucy Yan, have entered into discreet negotiations to end the dispute over the Ndassima gold mine and avoid costly proceedings. arbitration. A thorny issue behind which hovers the shadow of Moscow.

The Central African state will soon enter into discussions with the Canadian junior Axmin and its subsidiary in Bangui Aurafrique in the Ndassima case, in reference to the eponymous gold-rich zone in the center of the country. The deposit is one of the most important gold veins in the Central African Republic and the only one to enjoy known “industrial” potential. The Canadian junior protests against the cancellation, in July 2019, of its two exploration permits and its exploitation license for the gold of Passendro, Bambari I and Bambari II, in the area of ​​Ndassima, acquired at the beginning of the years 2000. The Central African State emphasizes the absence of exploitation, when Axmin, for his part, invokes a “case of force majeure”, the territory being occupied by armed groups since 2012.

The two parties are currently finalizing the organization of a mediation with the International Arbitral Chamber of Paris (ICC), which should take place in the coming weeks. The aim is to avoid the arbitration stage, a long and costly process.

The mediation will be led by the lawyer and property manager Laï Kamara. Axmin, headed by Chinese businesswoman Lucy Yan, is defended by Crépin Mboli-Goumba, lawyer and unsuccessful 2020 presidential candidate (3.16% of the vote, AI of 05/18/20). On the Central African side, no less than three lawyers will assist the Minister of Mines Léopold Mboli Fatran and the Keeper of the Seals Flavien Mbata (or their possible representatives): the Bâtonnier Emile Bizon, Jean-Paul Veketo and Constant Gouyomgbia Kongba-Zeze. The installation of the mediation had been delayed, the last three having not been paid since the treatment of the case by the Central African State Council in April 2020. The high court declared itself incompetent to judge the folder,

“Abuse of power” and “amicable settlement”

The cancellation of the contract in July 2019 was managed directly by the cabinet of Minister Mboli Fatran, in close collaboration with the presidential palace. But it had aroused many disapproval at the top of the Central African administration, raising concerns about the consequences of legal proceedings.

Thus, a report written in 2020 by Rufin Benam Beltoungou, the natural resources advisor to President Faustin-Archange Touadéra, advised “to favor an amicable settlement” and even to “simply reverse this decision to withdraw”. Another report, this time from the High Authority for Good Governance dated April 24, 2020, concluded that there had been an “abuse of power by the Ministry of Mines”, a “misinterpretation” of the law and advocated a “settlement to the amicable ”of the dispute. It is therefore this last avenue which is favored today by the parties.

LaĂŻ Kamara decorated by Russia in 2013

The Central African state had issued a new call for tenders, won in February 2020 by Midas Resources, a Malagasy company represented by Final Leandric Rabenatoandro and regularly presented as close to Russian interests in the country. Since its arrival in 2018, the Russian paramilitary group Wagner, which has a strong presence in the Central African Republic, has taken a keen interest in the mining sector. Two Russian mining companies active in the country, Lobaye Invest and M-Finans, were sanctioned by the US Treasury in September 2020 for their links with Yevgeny Prigozhin, a Russian oligarch close to Vladimir Putin and Wagner.


The future mediator, LaĂŻ Kamara, for his part received in 2013 the Order of Friendship from the hands of Vladimir Kozhin, ex-KGB, close collaborator of Vladimir Poutine in the Kremlin and under sanctions of the American Treasury since 2014. The French lawyer had, in 2013, won a long legal battle for the benefit of the Russian state over the Orthodox Saint-Nicolas cathedral in Nice, which pitted it against a local association.

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Ndassima mining case: an arbitration between the Central African Republic and Axmin will be held in Abidjan

https://www.rfi.fr/fr/afrique/20210920-dossier-minier-de-ndassima-un-arbitrage-e ntre-la-centrafrique-et-axmin-se-tiendra-%C3%A0-abidjan

Ndassima mining case: an arbitration between the Central African Republic and Axmin will be held in Abidjan

Published on : 09/20/2021 - 04:55

In the Central African Republic, the case concerning the mining permits of Ndassima, the only mines in the country known to be industrially exploitable, continues. The permit was withdrawn from the Canadian Axmin consortium at the end of 2019 because the authorities accused it of not having met the legal deadlines to start operations. Axmin opposes its inability to operate because of the security conditions and in particular the presence of armed men on the site.

It took several weeks for a date to be set. It is therefore on October 20 that the arbitration will be held between the Canadian junior Axmin and the Central African State. The meeting will take place in Abidjan. The mediator has been appointed but his identity is kept confidential. The objective is to find a way out of the crisis from this situation. But for the company Axmin, the goal is clear, it is to recover the two licenses withdrawn two years ago now. A withdrawal that she considers illegal.

Contacted the Minister of Mines did not wish to comment, specifying to prepare for the meeting at the end of October. Rufin Benam Beltungou, recently appointed to this post, was before that the advisor on natural resources to President Touadéra. In a note addressed to the Head of State, he advised at the time to " go back purely and simply on this decision to withdraw " considering that this decision lacks " legal basis ".

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Updated article regarding the situation with the Ndassima gold mine:

https://cdn-ceo-ca.s3.amazonaws.com/1gpfoal-Axmin%20Document.jpg

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Axmin, republic agree to Jan. 29 deadline for Passendro

2021-11-29 16:01 ET - News Release


Ms. Lucy Yan reports

AXMIN INC. ANNOUNCES PROGRESS REPORT ON MEDIATION WITH THE GOVERNMENT OF THE CENTRAL AFRICAN REPUBLIC

Axmin Inc. has released a progress report on the mediation process that was initiated by the company regarding the Passendro gold project in the Central African Republic (CAR) to rectify the mining licence and two exploration permits, as previously publicly disclosed by the company including in "Operations -- Central African Republic -- Passendro Gold Project" in the company's management's discussion and analysis for the six months ended June 30, 2021, and 2020.

The President of the CAR, Mr Faustin-Archange Touadera, gave a mandate to Mr Arnaud Djoubaye-Abazene, the Minister of Justice, and to Mr Ruffin Benam-Beltoungou, the Minister of Mines and Geology, to come to an amicable settlement with the Company. Axmin is represented by Mr Boubacar Sidibe and the Company's legal counsel.

Axmin made its views clear during the mediation held in Abidjan, Ivory Coast as to various solutions regarding the appropriate rectification. The CAR delegation did not contest or dispute the propositions made by the Company but did request the opportunity to return to Bangui, the capital of the CAR, to discuss the possible solutions with the Council of Ministers. The parties to the mediation agreed to a maximum delay to January 29, 2022 to rectify this matter. If this timeline is not adhered to, Axmin has the right to pursue a binding legal process.

Axmin Chairman and CEO, Lucy Yan, said, "We are delighted to be working with the representatives of the CAR Government to rectify this matter in an amicable manner. We believe that the mutually successful rectification of this matter will benefit the CAR, all shareholders and all other stakeholders."

About Axmin Inc.

Axmin is a Canadian exploration and development company with a strong focus on central and West Africa.

We seek Safe Harbor.

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