Vancouver, B.C., December 16, 2022 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) announces that in a recent call with our liaison officer from Major Mines of BC on December 8TH 2022, senior management from Ximen discussed the need to update shareholders regarding the current status of the Kenville Gold Mine permit, which has now been a nearly four-year process. The parties agreed that the following was an acceptable update for release.
The Company is expecting two permits, one from the Ministry of Energy, Mines and Low-Carbon Innovation, and one from the Ministry of Environment.
The Draft Permit from Mines is now complete and will be provided any day. The Mines department is finalizing specifics related to the permit area and the amount of the reclamation bond to be required. The Company expects that the area will be directly related to its 100-year-old owned Crown Grants that cover both surface and underground rights, as well as additional rights related to these Crown Grants. (Definition of a Crown Grant is specifically different than Mineral Titles – See image Below). The reclamation bond has been previously discussed in detail and the Company does not expect anything out of the ordinary course of business.
The draft Permit from Environment has been prepared with all conditions and inter-department reviews completed and recommendations to address the Company’s activities. This is expected to be forwarded to the Company any day.
The permits from Mines and Environment will come with conditions. There will be a brief review period and if acceptable Ximen will sign off in agreement and the Final Permit to commence work will be issued.
If there are any questions or comments, please feel free to reach out to our office and we will be happy to respond. The Company has continuously engaged with the community and provided tours and site visits to all interested parties. This has been a cumbersome process, but it is our objective to preserve this site as it has been for the last 100 years and create many impactful, meaningful and well-paying jobs for the region, as well maintain a small environmental footprint, aiming to be one of the greenest gold producers in BC and a leader in our industry. The power to the site is hooked up and tied in to the energy from the Kootenay Dam as well. All drilling will be contained in the underground development using pneumatic drills. The compressors and lines are all installed, powered up and ready to be deployed.
We understand it’s been a long wait and the last couple of years have been challenging for all. We appreciate your continued support and patience and want to assure everyone that all departments, Mines, Environment and the Ximen Team have been working diligently to finalize this process in the best interest of all parties concerned.
“We are all part of a diverse natural community here in the Kootenays and its important that we all do the best we can as custodians to preserve the beauty and nature that is in our trust, while providing opportunities for our families and the community as a whole.”, states Anderson CEO.
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.
The Company also announces it has granted 1,000,000 Restricted Share Units (“RSUs”) to its directors, officers, employees and consultants. The RSUs are payable in common shares of the Company. The RSUs are not transferable and will be subject to a four-month hold period from the date of grant and any applicable regulatory acceptance.
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director
Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com