Vancouver, B.C., September 10, 2026 – Ximen Mining Corp. (TSX.v: XIM) (FSE: 1XM) (OTC: XXMMF) (the “Company” or “Ximen”) announces that it is advancing site construction and preparation activities at its Kenville Gold Mine project near Nelson, British Columbia.
Mine roads stability work underway at the Kenville Gold Mine site
“This is an important milestone for Ximen and the Kenville project,” said Christopher R. Anderson, President, CEO and Director. “Key pre-construction steps for the surface water-management works are behind us, and our focus is on disciplined execution of the next site and construction activities.”
As previously disclosed, the Company’s Mines Act permit requires that engineering drawings for surface water ponds and related water-management works be submitted at least 60 days before commencement of construction of those works. The Company confirms that those drawings were submitted and that the applicable pre-construction notice ended on September 1, 2026. A meeting with the Ministry in connection with that applicable pre-construction drawing period was completed as of September 1, 2026. The Company is proceeding with installation of liners for the flood retention ponds and related site works.
Flood Retention Ponds and Site Construction
The Company’s immediate construction activities include the installation of liners for the flood retention ponds authorized under the Company’s Mines Act permit as surface water-management structures. These ponds are designed to retain stormwater on site during significant rain events, including for a theoretical 200-year flood event (as designed). Ximen expects liner installation for the flood retention ponds to be completed by the end of September 2026, subject to normal construction and site conditions.
Work associated with the inspection of existing building foundations and with the mine-roads stability report has been completed, and the Company is awaiting the final reports. The Company will provide further information as appropriate once the reports have been received and reviewed.
Building foundation inspection at the Kenville Gold Mine site
Electrical power has been tied into the site, allowing the Company to advance preparations for construction activities. Ximen is organizing materials, equipment, contractors and personnel required for the next phase of site work. The Company is starting with a small, select crew already in place and, when opportunities arise and it is feasible to do so, intends to introduce additional employment opportunities in a timely manner.
Portal and Decline — Permit Status and Next Steps
As previously disclosed (news release dated April 19, 2023), Ximen holds a Mines Act permit authorizing establishment of the new Venango Portal and 1,200 metres of decline development (and related permitted works), subject to applicable permit conditions.
As previously disclosed (news release dated April 9, 2026), the Company has received the groundwater licences required before construction of the new portal and decline can start. The Company is advancing remaining pre-construction engineering and site works, including, among other remaining items, flood-retention pond liner installation — the ponds (as designed) being advanced to address on-site stormwater and flood-retention functions previously identified in connection with pre-construction water-management works — and completion of the building-foundation inspection and mine-roads stability reporting process.
Following completion of the initial site construction and flood-retention pond work, and subject to completion of remaining preconditions and applicable permit conditions, the Company intends to move into construction of the new portal and related infrastructure. Ximen is targeting commencement of portal construction by the end of October 2026, subject to contractor availability, procurement, site conditions, remaining engineering deliverables, and normal construction considerations.
Map of Kenville showing new decline, old mine workings and significant intercepts
(schematic; previously disclosed permit scope; not a resource estimate)
The new portal and decline form part of Ximen’s plans to provide modern underground access at the Kenville project as contemplated under the existing Mines Act authorization.
Construction Funding
The Company continues to evaluate funding options to support site construction and mobilization. Further details will be announced if and when definitive arrangements are entered into.
Near-Term Objectives
With the applicable pre-construction notice period for surface water-management drawings having been completed on September 1, 2026, and now power connected, and initial construction activities moving forward, the Company’s current near-term objectives include:
- Installation of the flood retention pond liners by the end of September 2026, subject to site conditions;
- Receipt and review of the building foundation inspection and mine-roads stability reports;
- Mobilization of construction materials, equipment and a small, select crew for the next phase of work; and
- Subject to remaining preconditions and permit conditions, commencement of portal construction targeted for the end of October 2026.
“We have spent considerable time working through permitting, engineering and site preparation,” added Mr. Anderson. “Our attention is now on execution of the next construction and site milestones, and on keeping our shareholders and the local community informed as we achieve them.”
Aerial photo of planned installations at New Venango portal area at Kenville Gold Mine 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.
Andrew Randell, P.Geo., President and CEO of Aeonian Resources Corp. and a “Qualified Person” as defined by National Instrument 43-101, reviewed and approved the technical information contained in this News Release. Mr. Randell is independent of the Company.
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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