Ximen Acquires 100% Interest – Wild Horse Creek Gold Property – 12,767 Hectares – Cranbrook, BC

Rhea-AI Summary

Ximen Mining Corp. has acquired 139 mineral claims in the Wild Horse Creek area, located 15 kilometers northeast of Cranbrook, covering 12,767 hectares. The acquisition involves issuing 3,455,000 shares to vendors across two Purchase Agreements, each providing a 100% interest in the claims, subject to a 1.0% net smelter return royalty. The claims are situated in the Kimberley Gold Trend, historically significant for gold mining. Current exploration permits are in place, enhancing the site's potential to uncover rich gold deposits.

Positive

• Acquisition of 139 mineral claims enhances Ximen's exploration portfolio.
• Expected synergies from adjoining Hughes Range claims for potential resource discovery.
• Current exploration permits approved for drilling, allowing for immediate operational readiness.
• Mineral claims cover historic gold-bearing areas with significant past production.

Negative

• Issuance of 3,455,000 shares may dilute existing shareholder value.
• Dependence on verification of historical assay results, which have not been independently confirmed.

VANCOUVER, BC / ACCESSWIRE / July 06, 2021 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") is pleased to announce that it has acquired several mineral claims in the Wild Horse Creek area, located 15 kilometers northeast of Cranbrook in the Fort Steele Mining Division in southern British Columbia.

Property map showing Wild Horse Creek Gold Property near Fort Steele, B.C.

Ximen recently acquired a total of 139 mineral claims covering 12,767 hectares near historic Fort Steele, named the Wild Horse Creek property. The Wild Horse Creek property adjoins Ximen's Hughes Range claims (7 claims and one lease, 453 hectares).

The land package is covered by two separate Purchase Agreements under which Ximen is required to issue 3,455,000 shares split among the vendors. Additional, all the vendors have entered into voting trust agreements with regards to the shares being issued . In the first Purchase Agreement, a total of 43 mineral claims covering 3,221 hectares was purchased for an aggregate of 1,355,000 common shares of Ximen. Ximen acquired a 100% interest in the claims, subject to a 1.0% net smelter return royalty. In this agreement the vendor consists of 6 individuals.

In the second Purchase Agreement, a total of 96 mineral claims covering 9,546 hectares was purchased for an aggregate of 2,100,000 common shares of Ximen. Ximen acquired a 100% interest in the claims, subject to a 1.0% net smelter return royalty with a $1,000,000 buy out. Additional this land packed comes with current exploration permits approved for drilling. The deal also includes transfer to Ximen a total of $189,607 value in Portable Assessment Credits. In this agreement the vendors consist of 4 individuals and 2 private corporations.

Core facility with all the previously well preserved core from all the associated properties.

The Wild Horse Creek property lies within the Kimberley Gold Trend, a zone that extends southwestward from the Rocky Mountains into the western part of the Purcell Mountains. In 1864 gold was discovered in Wild Horse Creek and the 720 km long trail known as the Dewdney Trail was started to connect Hope with the gold mining community known as Fisherville on Wild Horse Creek. More than 10 million ounces of gold is estimated to have been recovered from the gold bearing streams in the East Kootenay area and the locations of more than 50 gold showings have been recorded. Placer gold operations continue to this day on several gold bearing streams around Cranbrook. (from Seabrook and Hoy, 2015 Geoscience BC Roundup Poster).

The Wild Horse Creek claims cover several bedrock precious metal occurrences and potential source areas for the famous placer gold deposits. Several polymetallic silver-gold-lead-zinc and gold-quartz vein prospects occur on the claims. One of the most interesting prospects is the Lone 4 claim, where a 2016 diamond drill hole intersected elevated gold values in strongly hydrothermally altered rocks. The alteration intensity increases towards the bottom of the hole and the lower portion of the hole cored an auriferous breccia zone with gold values up to 3.26 grams per tonne gold over 1.0 meters (Assessment Report 36796). The results suggest that a source of the rich surficial gold placer deposits could be located on this claim.

Readers are cautioned that historical information including assay results 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.

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"

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 a 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.

SOURCE: Ximen Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/654319/Ximen-Acquires-100-Interest-Wild-Horse-Creek-Gold-Property-12767-Hectares-Cranbrook-BC

FAQ

What are the details of Ximen Mining's acquisition of Wild Horse Creek claims?

Ximen Mining acquired 139 mineral claims covering 12,767 hectares for a total of 3,455,000 shares issued to vendors.

How does the Wild Horse Creek acquisition affect Ximen Mining's stock XXMMF?

The acquisition may dilute current shares but enhances exploration potential in a historically productive area.

When was Ximen Mining's Wild Horse Creek acquisition announced?

The acquisition was announced on July 6, 2021.

What is the strategic importance of the Wild Horse Creek property for Ximen Mining?

The property is expected to contribute to resource expansion and includes approved exploration permits for drilling.

Are there any royalties associated with the Wild Horse Creek claims?

Yes, the acquisition includes a 1.0% net smelter return royalty on the claims.