Ximen Mining Corp Starts Shortly the Decline to Bulk Sample 10,000 tonnes at Kenville Gold Mine

Vancouver, B.C. – July 22, 2019 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB:XXMMF) (the “Company” or “Ximen”) provides the following update on plans for exploration development and bulk sampling at its 100% owned Kenville Gold Mine in Nelson, BC.

Plan map showing location of planned decline.

“From exploration to production, we aspire to pour our first
Dore bar as early as the end of this year.”
States Anderson CEO

A new underground decline is planned to be driven 466 metres as a line drive at -15% grade from a starting elevation of 810 metres to the 740 metre elevation, then a further 40 metres at +3%. The decline is projected to cross at least two veins before reaching its target elevation, which lies at the center of a series of vein intercepts in holes drilled between 1995 and 2010. The end of the decline will also be in a favourable position for a raise to be driven to connect with the historic workings of the Kenville gold mine, to be used for ventilation and as a secondary egress as the mine is progressively developed.

Type cross section of planned decline (3.5m width x 4.0m height).

Underground diamond drilling from the decline is planned to begin at about 200 metres from the portal. This drilling will follow-up historic 1995 drill intercepts on the Eagle veins, in an area where mineralized shoots are projected down from historic mined areas on the 257 and 275 levels. If successful, stope blocks could be defined between the 200 and the target 500 metre mark in the decline. The following intercept are examples of target intercepts before the 500 metre mark in the decline.

Abbreviations: m= metre, g/t = grams per tonne

Satellite image of Kenville mine area showing locations of historic mine levels, planned new decline and diamond drill intercepts targets.

The 500 metre end-position of the planned decline is in line with a projection of mineralized shoots from the historic mine. At the 500 metre mark there are a number of drill intersections in the Flat vein and South Zone areas that indicate excellent potential for a bulk sample to be outlined. The following are some of better target intercepts for the 500 metre mark in the planned decline:

Abbreviations: Au = gold; g/t = grams per tonne

Note: The above tables are based on information provided by previous operators that is considered historical. Although it is known that the drill programs were directed by experienced personnel and a quality control program was employed to monitor assay results, a qualified person has not verified the previous results on behalf of Ximen Mining Corp. Ximen believes the results are representative of the undeveloped mineralization at the Kenville property.

It is estimated that 4500 metres of underground drilling will be required to appropriately outline material for a bulk sample of 10,000 tonnes. The 740 metre elevation will likely be the first level from which potential vein stope mining will take place, via ramps driven up and down to cross-cut projected veins indicated from the drilling. An area extending over a strike length of 300 metres and a vertical distance of 150 metres will be developed for trial mining of a bulk sample. Once a stope block has been delineated by underground drilling, it can be developed by access ramps driven down by as much as -20% grade. Then, up to four vertical cuts can be made by taking down the back until the fourth cut has a + 20% ramp to it. The plan is to remove the vein material in the stope face and slash it on the up-dip side, which will minimize the waste rock generated. After a stope is mined out, it can be back-filled with waste from an adjacent stope.

Kenville plan map showing location of historic workings, drill intercepts and planned decline.

Note: The technical information contained in this news release was obtained from the Kenville project database and is dated prior to 2016.

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

About Ximen Mining Corp.

Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen’s two Gold projects are The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under an option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has recently acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.

Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XMA and WKN with the number as A2JBKL.

This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Ximen Mining Corp

888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900

Press Release

Ximen Mining Corp Starts Shortly the Decline to Bulk Sample 10,000 tonnes at Kenville Gold Mine

Latest News

See All

Ximen Mining Corporate Update

Ximen Mining Corporate Update

Ximen Mining Announces Financing

Stay Connected with Ximen

Unearth what makes us unique