Ann: Isabel Nickel Project - licencing update, page-3

Isabel Nickel Project - licencingupdateAxiom Mining Limited (‘Axiom’ or ‘the Company’) advises the following as to its prospecting licence applications for nickel in Solomon Islands: Kolosori The Company has received notice from the Solomon Islands Ministry of Mines, Energy and Rural Electrification (‘MMERE’) that its application for a Prospecting Licence was unsuccessful. Axiom has re-applied for a ProspectingLicense, has requested a review of this decision, and may also seek judicial review for the rationale for its unsuccessful application as the determinations therein may not be based in law. Tenement D The MMERE has requested further information and documentation for the Prospecting Licence Application and thishas been supplied. It is expected the application will accordingly be approved. Additional Prospecting Licence Applications at South San Jorge and Jejevo Axiom has applied for a Prospecting Licence over an area of 52 km2immediately to the south and west of its existingSan Jorge mining lease.Elsewhere in Isabel province the Company has also applied for a Prospecting Licence covering 40km2 in an area known as Jejevo which lies north west of the Tenement D prospect. Axiom is seeking judicial reviewof these Prospecting Licence applications as the MMERE appear to have failed to present these applications to the Minerals Board for formal consideration.Positive changes of Government leadership relevant to Axiom’s interests in the Solomon Islands New appointments as Permanent Secretary, Chairman of the Minerals Board and Director of Mines, all within the Ministry of Mines have occurred in the past week. Axiom acknowledges and supports these much needed changes. Furthermore, the national Member of Parliament for the constituency that covers Kolosori was arrested on the weekend for misappropriation of Government funds.