October 16, 2024

Press Release

Ximen Mining Corp Drilling Update: Brett Epithermal Gold Project — Vernon BC

Vancouver, B.C., October 16, 2024 – Ximen Mining Corp. (TSX.v: XIM) (FSE: 1XM) (OTC: XXMMF) (the “Company” or “Ximen”) provides an update on hole 3 of its on-going drill program at the Brett epithermal gold project near Vernon in southern BC.


Drill at hole B24-03

Hole B24-03 has now been completed. This hole was designed to follow up on an interval from hole B04-12 that yielded 168.48 g/t Au from 148.9 to 150.2 m depth (see Figure 1).


Figure 1.  Plan view of hole B24-03 (left) and cross-section (right). The purpose is to follow up on an interval from hole B04-12 that yielded 168.48 g/t Au from 148.9 to 150.2 m depth.

Hole B24-03 intersected a clay-pyrite altered zone from 37.89 to 39.65m (1.76m) with 5% disseminated pyrite, which overlaps the contact of a porphyry dike intersected from 39.52-45.27m that contains amethystine quartz veinlets (porphyry dike is altered). In the footwall of the dike the hole passed into tuff to 85.14m, then back into mixed tuff, breccia and massive volcanic. A second porphyry dike was intersected from 127.51-136.26m that contains minor amethystine quartz veinlets, with a clay altered zone on its footwall contact from 135.82-136.26 (0.44m) with 2% pyrite. A third clay altered zone was intersected at 146.26-147.3 (1.04m) with 2% pyrite on the upper contact of another porphyry dike that was intersected from 144.73-148.45m. A fourth clay altered zone was intersected in the volcanic rock from 150.96-151.8 (0.84m) with 2% pyrite. Hole ended at 155m.  The target zone correlates with the altered zone between 146.26 and 147.30 meters.

The Brett project (20,043 hectares) covers low-sulfidation epithermal-style gold mineralization hosted in Eocene Penticton Group volcanic rocks. Epithermal-style gold mineralization was discovered in 1983, and a 291 tonne surface bulk sample was shipped to the smelter at Trail, BC in the 1990’s that averaged 27.74 grams per tonne gold and 63.7 grams per tonne silver (Brett 2017 NI 43-101 report). Multiple zones of mineralization occur over a two kilometer strike, including both bulk-mineable and bonanza high grade styles. Ximen conducted LiDAR and airborne magnetic surveys over parts of the Brett property in 2022.  Interpretation, 3D modeling, and target refinement were then completed in preparation for the 2024 drilling program.

The overall objective of the drill program is to extend the Main Zone to the southeast and at depth, and to test for extensions to the New Discovery Zone (located east of the Main Zone).


Map of Mineralized Zones at the Brett Project

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, ir@XimenMiningCorp.com


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