Ximen Mining Update on Permit Status at Kenville Gold Mine — Soon To Be One of the Greenest Gold Mines

NELSON, BC

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 8^TH 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.

New Portal
Small Environmental Footprint

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
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