November 27, 2024

Press Release

Ximen Mining Corp One Step Closer to Start of Development at Kenville Gold Mine — Nelson BC

Vancouver, B.C., November 27th, 2024 – Ximen Mining Corp. (TSX.v: XIM) (FSE: 1XM) (OTC: XXMMF) (the “Company” or “Ximen”) is pleased to provide this update on activities at its Kenville Gold Mine project near Nelson in southeastern BC.


Geological team logging drill core from monitoring wells at Kenville

We are highly encouraged by the recent developments at the Kenville Gold Mine,” stated Christopher R. Anderson, President, CEO, and Director of Ximen Mining Corp. “The completion of the Archaeological Impact Assessment with no significant findings is a pivotal step forward. Additionally, the completion of geological logging of drill core from the recently completed groundwater monitoring wells has provided additional valuable insights as well. These two key accomplishments bring us one step closer to closing off final conditions in our permit and starting underground development. We are currently now proceeding to finalize the completion of the engineering design for a culvert crossing at Fisherman Road.”


Personnel at Kenville mine portal

The Company reports that an Archaeological Impact Assessment (AIA) for a proposed construction site was recently completed successfully with no archaeological sites identified. The AIA involved excavation of five test pits over approximately 25 meters for a planned stream diversion involving an excavated channel. The next step is an engineering design for a culvert crossing Fisherman Road and the channel, which will be sent to the BC Ministry of Transportation and Infrastructure for approval before construction can proceed. The diversion is required to be in place before starting the mine development.

The Company also recently completed geological logging of drill core from two groundwater monitoring wells drilled earlier this fall, which were required to be installed prior to starting the mine development. The pair of groundwater monitoring wells include one deep well and one shallow well. Hole 1 was drilled to 100.0 meters depth and Hole 2 was drilled to 47.0 meters depth.  The wells have been capped and equipped for monitoring.  Both holes were drilled into dark grey, massive to locally foliated, medium grained, equigranular diorite of the Eagle Plutonic Complex.  A minor late-stage, cross-cutting mafic dike approximately 3 meters thick was also intersected near the top of the holes, which is composed of coarse grained, clinopyroxene with minor biotite.  No major faults were observed in either hole.  Hole 1 intersected a quartz vein (0.1 meter thick) mineralized with disseminated pyrite and chalcopyrite.  A half-core sample of this vein was cut and collected for assay.

In summary, work is progressing well towards completing all engineering and environmental requirements before the underground mine construction can start.

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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