Kenville Gold Mine - Activity Update - Historic Gold Mining District - Nelson BC

Rhea-AI Summary

Ximen Mining Corp. provides update on activities at Kenville Gold Mine project

Positive

• Ximen Mining Corp. has received its final permits under the Mines Act and Environmental Management Act for its Kenville Gold Mine project.
• The company is commencing engineering and other technical studies to meet conditions specified in the permits.
• Current activities include hydrogeological assessment, selection of sites for ground water monitoring wells, engineering design of contact water capture and conveyance, and mine engineering detailed design drawings.
• The company is addressing these items concurrently in anticipation of starting underground mine development as soon as possible.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / May 31, 2023 / Ximen Mining Corp. (TSX.v:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") is pleased to provide an update on activities at its Kenville Gold Mine project in southeastern BC.

The Company has received its final permits under the Mines Act and Environmental Management Act and is now commencing engineering and other technical studies to meet conditions specified in the permits that are required prior to starting mine development. Current activities include:

• Hydrogeological assessment and selection of sites for two ground water monitoring wells. The wells will be drilled once the selected sites are approved.
• Commissioned engineering design of contact water capture and conveyance for area of new portal and rock dump.
• Initial engineering review and assessment of drainage channel.
• Filed application for explosives storage and use permit. Site inspection to be arranged.
• Initiated mine engineering detailed design drawings for mine excavations including drill cut-outs, re-muck cut-outs, safety bays and sumps.
• On-going water flow monitoring.

Kootenay River Dam - Power Source for the Development of the Kenville Gold Mine

The engineering and environmental works are required to be completed and approved prior to starting underground mine development. The Company is addressing these items concurrently in anticipation of starting underground as soon as possible.

Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., a Qualified Person as defined by National Instrument 43-101 and VP Exploration for Ximen Mining Corp.

On behalf of the Board of Directors,

"Christopher R. Anderson"

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, 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 also 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 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

SOURCE: Ximen Mining Corp

View source version on accesswire.com:
https://www.accesswire.com/758209/Kenville-Gold-Mine--Activity-Update--Historic-Gold-Mining-District--Nelson-BC

FAQ

What permits has Ximen Mining Corp. received for its Kenville Gold Mine project?

Ximen Mining Corp. has received its final permits under the Mines Act and Environmental Management Act for its Kenville Gold Mine project.

What are the current activities at the Kenville Gold Mine project?

The current activities include hydrogeological assessment, selection of sites for ground water monitoring wells, engineering design of contact water capture and conveyance, and mine engineering detailed design drawings.

What is Ximen Mining Corp. doing in anticipation of starting underground mine development?

Ximen Mining Corp. is addressing the required engineering and environmental works concurrently in anticipation of starting underground mine development as soon as possible.