Vancouver, B.C., January 22, 2020 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) provides the following update on its plans for developing The Kenville gold mine and Brett Epithermal Gold Project in southern BC.
In 2019, Ximen acquired the former producing Kenville gold mine along with all existing permits, infrastructure and equipment. The Company then initiated permitting to develop a new 1200 metre decline and do underground drilling. Once this work gets underway, the Company will move toward extracting a bulk sample for offsite processing. To date, surface buildings and roads were rehabilitated, the portal site for the decline was stripped, a transformer for hydro power supply was installed, and a new mine compressor was purchased. Water and waste rock quality surveys were completed, showing that the mine drainage water is high quality and the waste rock is non acid generating. The Company intends to be extracting a bulk sample this year and then be in a position to move toward continuous production. Historically, the Kenville mine produced 65,381 ounces of gold from 158,842 tonnes processed.
Compressor #1 on site at the Kenville Gold Mine.
600 v, 200 hp, 1000 cfm, extra high efficiency. Its’ ready and waiting.
Photos of the Kenville gold mine infrastructure – January 2020.
The Brett property was acquired by Ximen in 2014 and has a history of surface exploration drilling, geophysical and geochemical surveys, as well as approximately 240 meters of underground drifting and raising, and a 291 tonne bulk sample processed at the Trail smelter for a recovered grade of 27.7 grams per tonne. Bonanza high-grade and bulk low-grade types of epithermal-style gold mineralization have been identified on surface and in previous drill holes. In 2019 Ximen initiated a permit to extend the underground workings and do diamond drilling to further define the main zone and explore parallel zones. This program is expected to be started this year.
Further the Company is pleased to announce that it has engaged Laurentian Bank Securities Inc. to act as strategic financial advisors and to assist the Company to source capital and evaluate potential merger and acquisition opportunities.
Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.
Recent photos of site visit (January 18th, 2020)
Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in all three of its precious metal projects located in southern BC. Ximen`s two Gold projects are The Gold Drop Project and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past-producing Huldra Silver Mine. Currently, both the Gold Drop Project and the Treasure Mountain Silver Project are under option agreements. The option partners are making annual staged cash and stocks payments as well as funding the development of these projects. The company has recently acquired control of the Kenville Gold mine near Nelson British Columbia and The Amelia Gold Mine in the center of the McKinney Gold Camp.
Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XMA and WKN with the number as A2JBKL.
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including statements regarding the completion of a proposed Offering and the use of the Offering proceeds to further explore the Company’s projects. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the Company is not satisfied with its further due diligence investigations and possibility that the TSX Venture Exchange may not accept the proposed transaction. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.