Vancouver, B.C., July 21, 2020 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to provide the following update on its recent progress in the Nelson mining camp in southern British Columbia and property acquisition.
At the Kenville Gold Mine, work is progressing on refurbishment of the existing 257 portal to the Kenville Gold mine. Geotechnical drilling and bolting is underway to secure the overburden above the portal excavation. Installation of the steel culvert in the 257 Portal will follow (culvert is now on site).
Kenville Mine: 257 Portal excavation
Once the 257 portal rebuild is complete, we can focus on producing the first Dore bar and work can proceed on starting the new decline following final ministry approval of the program.
Kenville Mine: Geotechnical Drilling to Secure Overburden
Kenville Mine: steel culvert for new 257 Portal
The Venus and Juno Gold Silver Mines
Ximen has been highly active this year acquiring several properties in southern BC, particularly in the well-known Nelson Gold mining camp surrounding Ximen’s Kenville Gold mine. Ximen recently added The Venus and Juno Gold Silver mines to its holdings. A total of 5 claims covering 231 hectares.
Ximen’s total holding in the Nelson-Salmo area now stands at approximately 18,983 hectares and the total land holdings controlled by Ximen in southern BC is now approximately 86,448 hectares.
The new property adjoins Ximen claims east of the Kenville Gold mine and covers the historic Venus and Juno Gold Silver mines, located 4.4 kilometers southwest of Nelson. The two mines combined produced 5411 tonnes in the early 1900’s and again in the 1930’s. Production records indicate an average grade of 19.8 grams per tonne gold and 17.7 grams per tonne silver, with minor copper and lead.
Satellite image showing Ximen’s Nelson – Salmo area holdings.
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.
Venus and Juno Gold Mines were optioned from a local prospector under the following terms: A total of $100,000 in cash and 200,000 shares of Ximen over four years. Subject to a 1% NSR which can be bought back for $500,000 . The agreement is subject to TSX and regulatory approvals, under these terms Ximen can acquire 100% of the property.
Investor Relations: Sophy Cesar, 604-488-3900
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.