March 9, 2021

Press Release

Ximen Mining 2020 Prospecting Samples up to 13.1 g/t Gold at Historic Nelson Mining Camp

Vancouver, B.C., March 9, 2021 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to announce results from prospecting samples collected its properties at Nelson in southern British Columbia.

Photograph of the Ymir-Protection mine dump from which
sample D0004168 assayed 13.1 grams per tonne gold and
145 grams per tonne silver.

Longitudinal section of California mine showing target area.

Analytical results were received for the remainder of rock samples collected last season on claims surrounding the company’s Kenville Mine near Nelson, BC. A total of 16 rock chip samples were collected of which 8 samples returned significant values for precious metals. Four samples returned significant results from the first 9 samples analyzed (as announced in a news release dated February 12). Four additional significant results were obtained from the remaining samples (see table below).

The highest precious metal values were obtained from a sample of the Ymir-Protection mine dump (13.1 grams per tonne gold and 145 grams per tonne silver). This historic mine was operated intermittently between 1899 and 1973 and produced 10,719 ounces of gold, 82,824 ounces of silver and significant lead and zinc from 14,788 tonnes mined. The deposit consists of shear-hosted quartz veins mineralized with gold, pyrite, galena and sphalerite.

Two samples containing high gold values were collected from the California mine (8.4 and 3.8 grams per tonne gold). This historic mine operated intermittently between 1910 and 1947 and produced 2,258 ounces of gold, 3,942 ounces of silver and significant lead and zinc from 1,454 tonnes mined. Mineralization consists of multiple quartz veins containing free gold, pyrite, galena and sphalerite. At the west end of the No. 3 level, a potential tonnage was identified in a block measuring 91 metres long and 1.1 to 1.5 metres in width, with an average grade reported from historic samples as 29.0 grams per tonne gold (BC Assessment report 11027).

Photo of open hole on California property where
sample D0004171 assayed 8.4 grams per tonne gold.

The Good Hope historic mine was developed as early as 1911 and produced 90 ounces of gold and 80 ounces of silver from 48 tonnes reported mined. Mineralization consists of bands and lenses of quartz that locally contain pyrite and chalcopyrite with free gold in oxidized portions of the mineralized zones.

Quartz mineralized with pyrite from Good Hope prospect
that assayed 2.82 grams per tonne gold.

Ximen is now submitting applications for exploration permits for the California and other areas surrounding the Kenville mine property. At the Kenville mine project, Ximen expects that permitting of new underground mine development will be finalized this spring.

Analyses disclosed in this release were conducted by ALS Global – Geochemistry Analytical Lab in North Vancouver, BC, Canada. ALS is an independent, fully accredited commercial laboratory. Gold was determined by the fire assay method using a 50-gram sample weight and ICP finish, with over-limits checked using a 50-gram sample weight and gravimetric finish. Other metals were analyzed as part of a 48-element package using a four-acid digestion and determination by ICP-MS. Over-limits for silver were determined by the fire assay method using a 50-gram sample weight and ICP finish, and over limits for silver, lead, zinc and copper by specific four-acid digestions with ICP-AES finish for high grade materials.

Readers are cautioned that historical information including the assay and production results referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.

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.

On behalf of the Board of Directors,

Christopher R. Anderson,
President, CEO and Director
604 488-3900

Investor Relations: 604-488-3900,

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