Vancouver, B.C., May 15, 2020 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to provide the following update on its preparations for exploration activities this season in southern British Columbia. Since April we have been working on exploration plans for the various properties in our portfolio. Our land holdings currently consist of 146,398 acres in some of the most prolific Gold Camps in Southern BC. Management is particularly focused on defining drill targets on our projects within the various Gold Camps. The field season will begin in June and we anticipate initiating drilling activities immediately on the existing permitted areas, we see a very busy season ahead.
Further updates on drilling start dates and an update on the progress at the Kenville Gold mine and our activities there shall follow shortly.
Here is an overview of the various areas:
In the Nelson-Salmo area, compilation of historic exploration data was started for the properties acquired earlier this year. Targets for trenching and drilling are being identified from which one or more exploration permit applications will be made. The Company will target gold-silver veins and gold-copper skarn and porphyry-style mineralization.
In Greenwood, annual permit updates are underway as required before field work can start. Compilation of exploration information is being done for the Providence, Amelia Gold Mine and Bud-Elk properties to identify priority targets for exploration. Permit applications will be made for Amelia and Bud-Elk properties. Targets include gold veins, gold-copper skarns and porphyry-style mineralization and epithermal gold.
At the Brett epithermal gold project near Vernon, BC, the Company has been in correspondence with the Ministry of Mines to review and approve the proposed program. Work planned includes approximately 200 metres of underground drift along the Main Zone followed by underground diamond drilling. Compilation of exploration information, drill targeting and application for a new surface exploration permit will also be done. The Main and parallel zones will be targeted, as well as further exploration of large areas of hydrothermally altered rocks peripheral to the Main zone.
Near Tulameen, approved work for the Treasure Mountain Silver property includes trenching and drilling of gold, silver and copper-molybdenum targets. This work will be started later in the season after the snow has melted.
Two other properties located near Cranbrook, B.C. were included with one of the Nelson properties acquired this year. The Quartz Mountain property, south of Kimberley B.C. covers a gold-quartz vein system. The Hughes property, situated east of the Rocky Mountain trench and north of Cranbrook has potential for sed-ex massive sulphide deposits like the world class Sullivan deposit, silver-copper deposits and gold-copper stockworks. Work planned for these properties includes data compilation, field reconnaissance and permitting for trenching and drilling.
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.
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.