Ximen Completes Lidar Surveys Over Past Producing Gold Mines Kenville, Star, Venus – Juno, and California — Nelson BC Canada

Vancouver, B.C., December 06, 2022 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) announces that during the 2022 field season it conducted a LIDAR survey at its Nelson property in southern British Columbia.

Map showing area of 2022 LIDAR and IP geophysical surveys at Ximen’s Nelson property

A total of 36.4 square kilometers were flown, with LIDAR and orthophoto data collected with a Phoenix Ranger Lidar scanner via a manned helicopter. The LIDAR survey was flown over the northern part of Ximen’s Nelson property and covered the Kenville, Star, Venus – Juno, and California properties. These properties cover historic gold mines with production listed in the table below.

At the Kenville gold mine, Ximen is in the permitting stage for underground development. Drilling on the property between 2008 and 2012 identified several new gold-bearing veins in widely spaced drill holes. Detailed drilling is required to adequately define the veins and grade continuity. Given the depth from surface, in-fill drilling is best done from underground mine workings. New underground development is therefore being permitted that will access the new vein extensions.

The Venus-Juno mine is being permitted for surface drilling by Ximen to test for vein extensions. A grab sample of mineralized quartz collected on the property by Ximen in 2020 contained 9.04 grams per tonne gold, 72.8 grams per tonne silver and 1.27% copper (news release dated February 12, 2021).

The California mine has been permitted by Ximen for surface drilling. The drilling is designed to test an area of the California vein above the historic mine level No. 3 where historic sampling indicates the vein averages 25.57 grams per tonne gold over a length of 91 meters with vein widths of 0.9 to 1.5 meters (BC Mines Annual Report for 1919). There are five additional gold-bearing veins in the area, including the Deadwood, Union, Creek, Cabin and the Exchequer veins. Outcrop of the California vein was sampled in 2020 and found to contain 8.4 grams per tonne gold (news release dated March 09, 2021).

The Eureka and Star mines occur in a broad area of vein-hosted and disseminated gold-copper mineralization. Numerous geological, geochemical, and geophysical surveys were completed in this area that identified several exploration targets. A total of 94 diamond drill and reverse circulation holes (15,741 metres) were drilled between 1933 and 2011 that resulted in significant gold-copper intercepts, indicating potential for a bulk-mineable deposit. Ximen has applied for a permit to do surface drilling and is actively exploring this area with geochemical surveys and a modern Induced Polarization/Resistivity geophysical survey. An exploration camp is also being prepared for use during the next drill season. The 2022 LIDAR survey results will be used to provide a detailed topographic base and to help identify fault structures.

Photo of historic drill core stored at exploration camp

Analyses referred to 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 records 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.

Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., a Qualified Person as defined by National Instrument 43-101 and VP Exploration for Ximen Mining Corp.

On behalf of the Board of Directors,

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

Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com

About Ximen Mining Corp.

Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen’s two Gold projects are The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under an option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has recently acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.

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 receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. 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 TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. 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.

Ximen Mining Corp

888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900

Press Release

Ximen Completes Lidar Surveys Over Past Producing Gold Mines Kenville, Star, Venus – Juno, and California — Nelson BC Canada

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