InvestmentPitch Media Video Discusses Ximen Mining’s Launch of Multiple Exploration/Drill Programs at Precious and Critical Metals Projects in British Columbia

VANCOUVER, British Columbia, May 12, 2023 (GLOBE NEWSWIRE) -- Ximen Mining (TSXV:XIM) (OTCQB:XXMMF) (FSE:1XMA) is preparing for an active season, with programs planned for more than ten precious and critical metals’ properties in six project areas in southeastern British Columbia. The field programs are directed from its command base in Greenwood.

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At Nelson, Ximen controls approximately 21,476 hectares of mineral claims, covering 57 mineral occurrences, including the 100%-owned Kenville gold mine, for which the company recently received a Final Environment Permit. The company is conducting exploration on the surrounding claims, including metallurgical testing of tailing samples from the Wilcox tailings deposit near Ymir and field evaluations of other occurrences. Detailed work will focus on the Star property, where drilling is planned later in the season to test for bulk-minable copper-gold mineralization. Drilling is also planned for the California and Venus-Juno historic gold mines.

The Wild Horse project, northeast of Fort Steele, Cranbrook, consists of 156 claims covering 13,948 hectares and 25 mineral occurrences. It covers source areas for the historic Wild Horse River placer gold deposit. Hard rock gold was discovered in this area as early as 1895 at Midas and 1899 at Big Chief. In 2015, gold mineralization was found to the southwest along strike of the Midas on Ximen's Lone 4 claim on Gold Mountain, where gold-bearing quartz veins occur in northeast trending shears and breccias. The Lone 4 was drilled in 2016 but the hole stopped in mineralization.

In the summer of 2021, further diamond drilling intersected quartz stockwork and breccia-style mineralization extending down from the end of a 2016 hole. A mineralized interval combined from both holes was 86 meters length with an average of 0.36 grams per tonne gold. The results indicate potential for a bulk-minable gold deposit. Ximen's property also covers zinc occurrences with similarities to the historic world-class Sullivan deposit. This year, Ximen plans to drill an area where gold was previously panned from overburden samples.

The Quartz Mountain property is located 12.5 km southwest of Kimberly, B.C. and consists of 76 claims covering 3,829 hectares and 13 mineral occurrences. Rock and soil geochemical surveys were conducted last year and confirmed the presence of high-tenor gold mineralization at the Anderson pit occurrence (12.2 grams per tonne gold over 1.2 meters). Plans for 2023 are to conduct rock and soil geochemical surveys at the Running Wolf and Rome and Valley occurrences.

In the Greenwood area, Ximen controls 57 mineral claims covering 21,683 hectares and 56 mineral occurrences, including the Bud-Elk and Amelia properties which are permitted for drilling. The Amelia property covers one of BC's oldest lode gold mines and is being targeted for extensions to the historic mine. Bud-Elk is being targeted for bulk-minable copper gold skarn and porphyry deposits.

The Brett property consists of 46 claims covering 20,273 hectares and 18 mineral occurrences. This property was discovered in 1983 and new gold zones have been identified every year that exploration has been conducted. Ximen is applying advanced geochemical techniques (multivariate statistical analysis) to determine pathfinder element associations with differing alteration and mineralization styles and is refining its 3D geological model. Airborne magnetic and LIDAR surveys were flown in 2022.

In 2023, surface drilling is planned to further test for bulk-minable and bonanza grade epithermal-style gold mineralization. Permitting for underground development is also underway.

Ximen's Treasure Mountain property (43 claims covering 10,819 hectares) is under option to New Destiny Mining Corp. An airborne LIDAR survey was flown over the entire property in 2022 to aid in locating historic workings and geological structures related to mineralization. The property is permitted for drilling, with drilling and/or rock geochemistry planned for the Railroad and Jim Kelly and Rio Grande mineral occurrences.

The shares are trading at $0.145. For more information, please visit the company’s website, www.XimenMiningCorp.com, contact Christopher R. Anderson, President and CEO, at 604-488-3900. For Investor Relations, contact Sophy Cesar, at 604-488-3900 or by email at ir@XimenMiningCorp.com.

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