Axiom Mining Limited (Axiom or the Company) advises that...

Axiom Mining Limited (Axiom or the Company) advises that Non-Executive Director Mr Anthony Faillace has resigned from the Board effective immediately.

Mr Faillace joined the Board in February 2013 representing the Company's existing largest shareholder Drake Private Investments LLC, a New York based managed fund (‘Drake').

Since joining the Board Axiom has continued to pursue the defence of the long running litigation in the Solomon Islands against Sumitomo and which requires constant oversight by the Board. Mr Faillace has resigned due to time commitments required as a Director of the Company to continually monitor the litigation process.

The Company wishes to thank Mr Faillace for his contribution to the Board.

Upon resigning, Mr Faillace said “With the litigation and developments associated with the Isabel nickel project this year requiring continual review and oversight from the Board, my ability to add value is inhibited by me residing in the US and due to a number of other business commitments which require my attention. Drake remains as the major shareholder of Axiom and looks forward to seeing the matter to a successful conclusion.”

Axiom Chairman Mr Stephen Williams said “We have appreciated Anthony's contribution to the Board representing Drake as the Company's largest shareholder and appreciate that it is difficult as a director in a different time zone to oversee the day to day matters as this significant litigation proceeds to finality. Nevertheless Drake remains our largest shareholder and the Board remains resolute to deliver a successful outcome to all shareholders as it has since the commencement of these proceedings of which are progressing well”