Axiom Mining aims to raise Aus$4 million to accelerate the company"s exploration and drill programs in Australia and Vietnam. The funds will also be used to acquire new assets and for working capital.

Axiom is placing 16.01 million new shares at 25 cents each and upon completion it will have 207,970,181 million shares on issue.

The company's key projects in Queensland are:

Cardross with copper-gold-silver (zinc). Historic production was 24,000 tonnes @ 8.4% copper, 2.9 grams/tonne gold Au and 113 grams tonne silver. Mineralization is open at depth and along strike. Drilling is being carried out.

OK Mines with historic production of 87,000 tones @ 9.2% copper plus gold-silver credits. The project has VMS and porphyry gold-copper potential and drilling has resumed.

Mt Molloy is drill ready with an historic drill intercept containing 11 metres @ 5.3% zinc and 1.3% copper.

At White Hills recent grab samples contain up to 2.5% copper. Other samples assayed between 0.91 grams tonne and 29.3 grams/tonne gold.

The key projects in Vietnam are Quang Binh and Quang Tri, both gold deposits. Both carry potential similar to gold deposits being mined 45km west across the border at Sepon, Laos, by Oxiana. Large sulphide-bearing breccia zones have been intersected in recent drilling.