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TUCSON,AZ--(Marketwire-March27,2012)MeantimeWire-TheMoneyChannelAnnouncesAxiomGoldandSilverCorp.(OTCQB:AXIO)(BERLIN:0X0)("Axiom")has
enteredintoaletterofintenttocombinewithTakaraResourcesInc.ofToronto,Ontario(TSXVENTURE:TKK)("Takara").
ThemainpointsofthecorporatecombinationcallforTakaratoissuetoAxiomshareholderssharesofTakarasuchthatonclosingAxiomshareholderswillown
approximately46%ofthesharesofthecombinedcompanypre-financing.ExistingshareholdersofTakarawillown54%ofthecombinedcompany.Aspartoftheclosing,
TakaraandAxiomwillraiseaminimumof$10,000,000CADandamaximum$25,000,000CAD.Themainuseofproceedsfromthefundingwillbetoadvancethe
explorationanddevelopmentofthemineralconcessionsheldbyTakaralocatedintheRepublicofGuyana.Dr.JohnLarsonwillbeimmediatelyappointedasSpecialAdvisorto
Takara.
Dr.JohnLarson,President,says,"Takara'stwoGuyanaprojectsaretransformativemilestonesforusasweadvanceourstrategytogrowourportfolio.Takara'stwo
advancedstagegoldprojects,TassawiniandArakaka,havetremendousexplorationupsideinadditiontothepotentialfornear-termgoldproductionattheTassawiniproject.
TheArakakaprojecthostsover25individualgoldexplorationtargetswithtwosignificantmineralizedzonesidentifiedtodate.Webelievethatthereisanexcellentopportunityto
developamajornewresourceandminingcampinthisprolificgoldminingarea."
Franscico"Barry"Quiroz,VPExploration,says,"Takara'sTassawiniprojecthostsaNationalInstrument43-101mineralresourceof437,000ouncesgold(indicated)and
62,000ouncesgold(inferred)intheTassawiniandSonneDeposits.Webelievethatwecanexpandthisresourceastherearemanytargetsidentifiedforfurtherexploration.
Withmostoftheexplorationdatainplace,wewouldexpecttostartadditionaldrillingverysoon."
JenniferBoyle,PresidentofTakaraResourcessays,"WithAxiom'sstrongmanagementandexplorationteamandsignificantcapacityforfunding,wefeelthatthe
combinationisthebeststrategyforourGuyanaprojectstobedeveloped.Takara'smanagementandboardofdirectorsstronglysupportthemerger."
TheletterofintentprovidesthatAxiomwillcompleteduediligenceandthepartieswillfinalizethedefinitiveagreementtoconsummatethecombinationbyApril15,2012.
Thecombinationissubjecttocertainconditionsincludingshareholderapproval,theexecutionofadefinitiveagreementandthefundingrequirementsreferredtoabove.
Also,AxiomhasdecidednottoproceedwiththepurchasetheMorelosProjectfromParamountGoldandSilverCorp.andhasnofurtherobligationsunderthatLetterof
Intent.
AboutTakaraResourcesInc.:
TakaraResourcesisagolddevelopmentcompanythatisfocusedonitsadvancedstagegoldprojectswithintheGuyanaShield,Guyana,SouthAmerica.Takaraalso
holdsa75%interestinanickelprojectinnorthernManitoba,Canada.
AboutAxiomGoldandSilverCorp.:
AxiomGoldandSilver,throughitswhollyownedsubsidiary,AxiomMineralsdeMexicoS.A.deC.V.isamineralexplorationcompanywithcurrentpropertieslocatedin
SonoraState,MexicoTheCompanyisledbyDr.JohnLarson,aseniorminingexecutivewith33yearsinternationalexperienceinexploration,miningandresource/reserve/mine
development.
ForwardLookingStatement:
ThisPressReleasecontainscertainforward-lookingstatementswithinthemeaningofthePrivateSecuritiesLitigationReformActof1995.TheCompanyhastried,
wheneverpossible,toidentifytheseforward-lookingstatementsusingwordssuchas"anticipates,""believes,""estimates,""expects,""plans,""intends,""potential"and
similarexpressions.ThesestatementsreflecttheCompany'scurrentbeliefsandarebaseduponinformationcurrentlyavailabletoit.Accordingly,suchforward-looking
statementsinvolveknownandunknownrisks,uncertaintiesandotherfactorswhichcouldcausetheCompany'sactualresults,performanceorachievementstodiffer
materiallyfromthoseexpressedinorimpliedbysuchstatements.TheCompanyundertakesnoobligationtoupdateoradviseintheeventofanychange,additionor
alterationtotheinformationincludedinthisPressReleaseincludingsuchforward-lookingstatements.
CautionaryNotetoUSInvestors:
AllmineralmaterialshavebeencalculatedinaccordancewiththedefinitionstandardsonmineralresourcesandmineralreservesoftheCanadianInstituteof
Mining,MetallurgyandPetroleumreferredtoinCanadianNationalInstrument43-101,commonlyreferredtoasNI43-101.U.S.SECreportingrequirementsfordisclosureare
governedbySECIndustryGuide7.NI43-101andIndustryGuide7differmaterially.
TheUnitedStatesSecuritiesandExchangeCommissionlimitsdisclosureforU.S.reportingpurposestomineraldepositsthatacompanycaneconomicallyandlegally
extractorproduce.Weusecertaintermsinthispressrelease,suchas"reserves,""resources,""geologic
resources,""proven,""probable,""measured,""indicated,"or"inferred"whichmaynotbeconsistentwiththereservedefinitionsestablishedbyIndustryGuide7.U.S.investors
areurgedtoconsidercloselythedisclosureinourfilingswiththeSEC.YoucanreviewandobtaincopiesfromtheSECwebsiteathttp://www.sec.gov/edgar.shtml
CorporateHeadquarters
AxiomGoldandSilverCorp.
Dr.JohnLarson
1846E.InnovationParkDr.
OroValley,AZ85755
Tel:+1(520)318-5595
E-mail:[email protected]