ASX / Media Release 12 June 2012 Diamond Drilling to Commence in Axiom s Quang Tri Tenement, Vietnam HIGHLIGHTS A diamond drilling program will begin this week on the Me Xi Prospect, within the Quang Tri Mineral Exploration Licence in Vietnam. 10 drill hole targets have been defined by geological mapping, tunnel channel sampling and trenching. This program is to evaluate the extent of gold mineralisation recently identified. Axiom Mining Limited ( Axiom ) is pleased to announce the commencement of a diamond drilling program on the Me Xi Prospect within the Quang Tri mineral tenement in Vietnam. This program consists of ten angled diamond HQ drill holes (Figure 1, Collar Table 1) for approximately 1000m designed to test gold targets. To date, detailed geological mapping, trenching and channel sampling of the abundant artisanal gold tunnels has resulted in a robust interpretation of the mineralisation. Six of the ten planned diamond drill holes have been specifically designed to test the presence of the quartz stockwork veining, which was identified through detailed mapping, channel sampling and reconnaissance rock chip results of the tunnels including the zone of high grade rock chip (up to 82.6 g/t Au refer ASX announcement on 15 March 2012). The remaining four drill holes will evaluate the extent of gold mineralisation encountered within the trenches. Two of the last four holes have also been specifically designed to drill towards each other (in a scissor fashion) to give greater geological understanding of the variability of the high grade gold mineralisation. These holes will also confirm the spatial characteristics of the gold mineralised zones (refer to attached cross sections Figures 2 to 5). It s Axiom s intention to initially focus on Me Xi to deliver immediate results. Axiom will then expand drilling to the other prospects within the tenement. Axiom Mining Limited ARBN 119 698 770 Level 11, 1 Chifley Square, Sydney, NSW 2000, Australia T: +61 2 9247 0169 / F: +61 2 9247 0243 / www.axiom-mining.com
Table 1 - One Drill Hole Collar Drill Hole Number Easting Northing RL Bearing Dip Depth (m) LK04-MX 691,347 1,870,667 185 030-65 120 LK05-MX 691,302 1,870,676 172 030-50 120 LK06-MX 691,812 1,870,615 240 030-65 120 LK07-MX 691,785 1,870,569 230 030-65 65 LK08-MX 691,757 1,870,633 232 030-65 130 LK09-MX 691,732 1,870,590 225 030-65 60 LK10-MX 691,397 1,870,710 214 135-50 100 LK11-MX 691,426 1,870,682 213 310-50 115 LK12-MX 691,574 1,870,759 221 225-60 80 LK13-MX 691,602 1,870,787 220 045-60 85 Notes to accompany Table 1 1. Collar Northing, Easting and Azimuth are all in Vn2000 Grid Coordinates 2. Location of all drill hole collars were determined using a handheld GPS achieving ±4m accuracy 3. Drill hole location starting coordinates may vary upon final survey 4. Depth stated is from starting point as defined by coordinates along stated azimuth, and represent down hole length. Interpreted mineralisation zones Proposed drill holes Figure 1 - Me Xi Prospect illustrating the planned diamond drill holes and interpreted gold mineralisation zones 2
Figure 2 - Cross section 1 Figure 3 - Cross section 2 3
Figure 4 - Cross section 3 Figure 5 - Cross section 4 ENDS 4
About Axiom Mining Limited Axiom Mining Limited is an advanced mineral exploration company with an 80% interest in the world class Isabel Island nickel deposit in the Solomon Islands, gold and silver projects in Vietnam and 100% owned highly prospective gold, silver and copper tenements in Chillagoe, North Queensland, in Australia. The company is listed on the ASX and operates in Australia, Solomon Islands and Vietnam. For more information on Axiom Mining and details of our Solomon Islands, Vietnamese and Australian projects, please refer to the company website at: www.axiom-mining.com. Disclaimer Statements in this document that are forward-looking and involve numerous risks and uncertainties that could cause actual results to differ materially from expected results are based on the Company s current beliefs and assumptions regarding a large number of factors affecting its business. There can be no assurance that (i) the Company has correctly measured or identified all of the factors affecting its business or their extent or likely impact; (ii) the publicly available information with respect to these factors on which the Company s analysis is based is complete or accurate; (iii) the Company s analysis is correct; or (iv) the Company s strategy, which is based in part on this analysis, will be successful. Competent Person's Statement Geological information presented in this document is based on exploration results compiled by Mr Eamonn Dare. Mr Dare is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience relevant to the styles of mineralisation and types of deposits under consideration and to the activity, which he is undertaking to qualify as Competent Person in accordance with Clause 8 of the JORC Code. Mr Dare is a full time employee of Axiom Mining Ltd and consents to inclusion in this document of the matters based on his information in the form and context in which it appears 5