January 2, 2024

Press Release

Ximen Mining Corp Announces a Clean Electricity Agreement with Energy Plug Technologies Corp

Vancouver, British Columbia, Canada – January 2, 2024 – Ximen Mining (TSX-V: XIM) (the “Company”), is pleased to announce an agreement for a two phase clean electricity generation project with Energy Plug Technologies Corp (CSE: PLUG), Vancouver, BC,  and Renewable Energy Power (Roberts Creek, BC) to design, power and generate the Kenville Gold Mine in Nelson BC to progress towards meeting  their zero emission targets. Phase one includes the installation of three 10kW Lithium-Iron Phosphate storage batteries connected to solar panels that will provide power to three mine buildings. Phase two will include a 1MW Battery Storage System (BESS) designed to accommodate large compressors, ventilation and lighting for the mine site that will also include a 20kW turbine on the river to generate power. This solar and water clean electricity supply will provide renewable energy at a lower cost with a targeted three year (ROI) return on investment while also taking advantage of the Clean Electricity and Clean Energy Tax Credit.

40 foot Containers used for Large Battery Storage Systems, external cooling for climate

40 foot Containers used for Large Battery Storage Systems, external cooling for climate

The BESS project will enable Ximen Mining to charge the system during off-peak hours and feed this energy back into the grid during peak load periods, typically around the dinner hours of 5:00 – 7:00 pm.  The system will operate year-round; however, it will be particularly important during extreme cold periods like those experienced in December through February.  The BESS will assist in smoothing out these peaks and reduce the cost of purchased power, helping to keep rates lower.

“Ximen Mining Corp is thrilled to announce a groundbreaking clean electricity partnership with Energy Plug Technologies Corp and Renewable Energy Power. Our two-phase initiative at the Kenville Gold Mine demonstrates our commitment to sustainable mining, utilizing solar panels, lithium-iron phosphate batteries, and a 1MW Battery Storage System. This forward-thinking project aligns with our zero-emission goals, ensuring operational efficiency and lower costs while setting a new standard for responsible resource extraction.” stated Christopher Anderson, CEO of Ximen Mining Corp.

Ending 2023 with an agreement with Ximen Mining continues the momentum for Energy Plug as we further our commitment to helping businesses embrace BESS units for the benefit of the environment and their bottom line stated Broderick Gunning – President, CEO, of Energy Plug Corp.

On behalf of the Board of Directors,

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

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

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