December 21, 2022

Press Release

Ximen Mining Corp. Closes Financing

Vancouver, B.C., December 21, 2022– Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to announce that it has closed the non-brokered private placement originally announced on November 4, 2022 by issuing 2,714,286 flow through units at a price of $0.07 for gross proceeds of $190,000. Each Flow-Through share consists of one common share that qualifies as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 60 months from the date of issue, one additional non-flow-through common share of the Issuer at an exercise price of Cdn$0.10 per share.

The net proceeds from the Offering will be used by the Company for exploration expenses on the Company’s British Columbia mineral properties.

All securities issued in connection with the flow through Offering will be subject to a hold period expiring April 22, 2023. The closing of this private placement financing is subject to final TSX-V approval. There were no finders’ fees paid on this placement. This flow-through private placement, originally announced on November 4, 2022, is now closed.

Christopher Anderson a director and/or officer of the Company, participated in the Offering constituting a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relied on section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the transaction did not exceed 25% of the Company’s market capitalization.

On behalf of the Board of Directors,

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

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


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