Axiom Mining 2015 Annual Report

Chairman’s review

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Our respectful and culturally attuned approach to all our operations has set us apart from industry peers and during the year we continued to invest in the local communities and relationships in Solomon Islands as we work towards establishing sustainable mining development in this region. Our genuine commitment to Solomon Islands includes providing opportunities for capacity building in the communities where we operate, which has helped us lay the foundations for a long-term presence. During the year we announced the appointment of a new Non-Executive Board member and three new executives to strengthen our commercial and technical capabilities as we continue to prepare to make the transition from explorer to producer. We welcomed Jeremy Gray as a Non- Executive Director, Juan Jeffery as the Executive General Manager of Mining Operations, Dr Phillip Tagini as the General Manager of Sustainable Development, and Paul Frederiks as Company Secretary. After five years at the helm, I recently made the decision to retire from the Board. One of my proudest moments was when the High Court upheld our claims to the Isabel Nickel Project after a four-year legal stoush. While still not entirely unencumbered by litigation, Axiom is well into the next phase in its evolution and it is time for a new Chairman to take the reins. I would like to take this opportunity to thank our shareholders and other key stakeholders, especially those in Solomon Islands, for your support during my tenure. I will be eagerly watching for further achievements of the company in 2016 and beyond.

It was another significant year for Axiom as we forged ahead with development of and planning for the Isabel Nickel Project in Solomon Islands. While the price for nickel metal, like other commodities, is subdued at the present, Axiom is well- positioned to be a significant nickel producer in the Pacific region and profitably meet current demand, as well as benefit when the market turns. Even as we continue with our strategic review of other tenements in our portfolio and await judgement from the Solomon Islands High Court of Appeal, our focus remains on the Isabel Nickel Project as it continues to present the best opportunity for Axiom and its shareholders. The first shipment of ore for our offtake partner Gunvor will be the first of many milestones in 2016, and I look forward to Axiom obtaining a Mining Lease, commencing commercial production, continuing to upgrade the JORC Mineral Resource and generating positive operating cash flow.

AXIOM MINING LIMITED ANNUAL REPORT 2015

Stephen Williams Chairman