Mr. Christopher Hill reports

AXION MINERALS CORP. CLOSES FLOW-THROUGH PRIVATE PLACEMENT

Axion Minerals Corp. has closed its previously announced non-brokered flow-through private placement for aggregate gross proceeds of $390,000.

Pursuant to the private placement, the company issued three million flow-through units at a price of 13 cents per FT unit. Each FT unit consisted of one flow-through common share in the capital of the company and one non-flow-through common share purchase warrant.

Each warrant entitles the holder to acquire one non-flow-through common share in the capital of the company at an exercise price of 14 cents per warrant share for a period of 24 months from the date of issuance.

The gross proceeds from the private placement will be used to incur eligible Canadian exploration expenses that are intended to qualify as flow-through mining expenditures (as such terms are defined in the Income Tax Act (Canada)) in connection with exploration activities at the company's mineral exploration projects. The proceeds will allow Axion to advance exploration at Cranberry Creek as the company continues to evaluate the property's rare earth element potential and identify priority areas for further exploration.

The securities issued in connection with the private placement are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

About Axion Minerals Corp.

Axion is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic mineral properties of merit and to conduct its exploration program on the Cranberry Creek rare earth element property, which is composed of three contiguous mineral claims covering approximately 2,673.19 hectares in the Kamloops mining division, British Columbia.

We seek Safe Harbor.