The TSX Venture Exchange has accepted for filing documentation pertaining to a share purchase agreement dated Jan. 23, 2012, between Axmin Inc., Ferrum Resources Ltd., and Ferrum Centrafrique S.A., a wholly-owned subsidiary of Ferrum Resources. Pursuant to the terms of the agreement, Axmin shall acquire all the shares of Ferrum Centrafrique.

As consideration, the company may issue up to $10-million (U.S.) worth of shares (subject to further exchange approval) and incur a minimum of $4-million (U.S.) in exploration expenditures in the Topa project (as defined by the company's Jan. 25, 2012, press release). If exploration licences are granted to Ferrum Centrafrique, Axmin will dispose a maximum of 25 per cent of the shares of Ferrum Centrafrique to Ferrum Resources (which may be subject to further exchange approval).

For further information, please refer to the company's press release dated Jan. 25, 2012.