December 12, 2023

Press Release

Ximen Mining Hole 8 Intersects McKinney Vein Again at Amelia Gold Project — Camp McKinney, BC

Vancouver, B.C., December 12, 2023 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) announces information from its eighth drill hole at the Amelia Gold project in Camp McKinney near Rock Creek in southern BC.

Photo of drill being moved to next drill site

Ximen has now drilled eight holes to test the extension of the historic Cariboo-Amelia gold mine in Camp McKinney in the Greenwood Mining Division, BC. The Cariboo-Amelia mine was BC’s first dividend paying gold mine.  Over its 68-year history, the mine produced 81,602 ounces of gold and 32,439 ounces of silver from 112,254 tonnes milled (BC Minfile Records). The mine is situated within a 4-kilometer system of gold-quartz veins and historic workings.

3D model of Cariboo mine (looking North) showing vein blocks and current drill holes

Hole AM23-08 intersected the extension of the McKinney vein beneath the eastern end of the historic mine. Eight NQ-size drill holes have been completed for a total of 2,064 meters.  The target vein was intersected in five holes (AM23-01, 3, 5, 7 and 8) between 30 and 45 meters below the lowest mine level and over a strike length of 150 meters.

The mineralized intercepts range in core length from 0.26 meters to 0.70 meters and contain pyrite, sphalerite, galena and chalcopyrite.  Hole AM23-08 intersected the vein within a mineralized quartz stringer alteration zone.  The vein consisted of “blue quartz” containing fine grained pyrite. The “blue quartz” is a local mine term for grey quartz that typically contains gold.  Visible gold hasn’t been observed, but this sulphide mineral assemblage is the same as that reported to occur in the vein where it was mined historically.  Core samples will be sent for analysis once the geological logging and sampling is completed.

Abbreviations: Py: pyrite, Sp: sphalerite, Gn: galena, Cp: chalcopyrite
Note: Reported lengths are core lengths not true widths

Core Photos:

Vein intercept in hole AM23-08

Close-up photo of sulphide mineralization intersected in hole AM23-08; galena, PbS (silvery grey) and sphalerite ZnS (brown). Width of view is about 20 cm

Holes AM23-03, 04, 05 and 08 also intersected a second mineralized vein about 50 meters south of the main vein that is also mineralized with pathfinder minerals.  Its extent has yet to be determined.

Holes AM23-02, 04 and 06 targeted the zone at greater depths but did not intersect the vein.  It is likely that the vein has been displaced by faults similar to those which occur in the upper levels of the mine, where the vein is displaced a relatively short distance to the south by flat lying faults.

Overall, the results indicate there is potential for more tonnes to be mined below the lowest level of the mine workings and that there is potential for additional material in parallel zones.

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.

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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