AXMIN announced that it has signed a Letter of Intent for the development of its Passendro Gold Asset in the Central African Republic (CAR) with AU Metals Limited (AU Metals) a subsidiary of the AU Group Limited. AXMIN has agreed with AU Metals to work together on the results of the ongoing site survey to define a scoping study based on the situation on site, the results and implications of illegal mining activity and the past exploration and geological analysis performed by the company. The Company will work with AU Metals to define what equity capital and debt facility will be required to implement the project in the CAR.