Vancouver, B.C., March 03, 2020 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) announces that that it has entered into a Property Acquisition Agreement with Saville Resources Inc.(“Saville”) for the purchase of 100% of its mineral property located near Greenwood in southern British Columbia. The property is located close to Ximen’s property, 4 km northwest of Greenwood, and consists of 6 mineral claims covering a total of 380.6 hectares.
Map showing Greenwood area mineral claims including property acquired from Saville (purple), and properties
held by Ximen (red), GGX Gold Corp. (orange) and Golden Dawn Minerals (Yellow) with mill site (star).
The Saville property is situated within the highly mineralized Boundary District, which includes the Republic district in northern Washington State and the Greenwood Mining Camp in southern British Columbia. It lies only 9.5 kilometers from the 200 tonne per day Greenwood mill facility of Golden Dawn Minerals Inc.
The Saville property covers six BC Minfile occurrences, including the past-producing Morrison mine. The Morrison, classified as a copper and gold skarn, produced 7.15 kilograms of gold, 26.0 kilograms of silver and 10.7 tonnes copper from 2,647 tonnes. Another exciting prospect is the Buckhorn deposit, classified as a Porphyry Cu +/- Mo +/- Au deposit and hosted in the prolific Quesnelia Terrane, where pyrite, chalcopyrite, native copper, malachite and molybdenite mineralization is hosted by a dioritic intrusion. Saville previously reported highlights from rock grab sampling conducted in 2018, including 4.57 g/t Au and 6.70 % Cu, 6.84 % Cu and 4.44 g/t Au, and 7.14 % Cu and 1.23 g/t Au. These results demonstrate an association of elevated gold with high copper values, consistent with models for large copper-gold porphyry and related skarn deposits.
Key points of the transaction include:
• 388,888 Shares Ximen shares paid to Saville;
• The transaction is subject to TSX Venture Exchange approval.
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