Ximen Drilling at Providence Underway Recent Assays returned up to 25 Oz /Ton Silver Greenwood BC Historic Mining Camp

Rhea-AI Summary

Ximen Mining Corp (OTCQB:XXMMF) announced positive assay results from its Providence property near Greenwood, BC. The company reported significant findings from 16 rock chip and 20 soil samples, with highlights including a grab sample containing 884 grams per tonne silver and 1.36 grams per tonne gold. Another sample yielded 435 grams per tonne silver and 4.4 grams per tonne gold. A drilling program has commenced, with 755 metres completed across four holes, while additional exploration is planned. The results underscore the property’s potential and enhance investor interest.

Positive

• Assay results include a grab sample with 884 grams per tonne silver and 1.36 grams per tonne gold.
• Another sample from Freemont mine showed 435 grams per tonne silver and 4.4 grams per tonne gold.
• Drilling program at Providence property is underway with 755 metres completed.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / October 19, 2020 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") is pleased to announce results from its Providence property near Greenwood in southern British Columbia.

Assay results were received recently from field examinations completed at the start of this season on the Company's Providence property near Greenwood. Results for a total of 16 rock chip grab samples and 20 soil samples were received. Two of the rock samples returned significant results.

One grab sample of quartz material from an historic dump of the Providence mine returned values of 884 grams per tonne silver (25.9 ounces per ton) and 1.36 grams per tonne gold. This sample also contains 0.23% lead and over 1% (>10,000 ppm) zinc. Another sample collected from the historic Freemont mine dump returned values of 435 grams per tonne silver (12.7 ounces per ton) and 4.4 grams per tonne gold, with 0.22% lead.

Using a gold price of USD$1900 per ounce and a silver price of USD$24 per ounce, the two samples described above graded 0.37 and 0.29 ounce per ton gold equivalent. Follow-up exploration is being planned.

Photos of diamond drill on site at Providence property.

The Providence drill program is also underway with 755 metres drilled so far in four holes. Drilling was done along strike of the historic Providence mine and beneath an historic adit that was found in 2018. Assay results are pending.

Analyses disclosed in this release were conducted by ALS Global - Geochemistry Analytical Lab in North Vancouver, BC, Canada. ALS is an independent, fully accredited commercial laboratory. Gold was determined by the fire assay method using a 50-gram sample weight and ICP finish, with over-limits checked using a 50-gram sample weight and gravimetric finish. Other metals were analyzed as part of a 48-element package using a four-acid digestion and determination by ICP-MS. Over-limits for silver were determined by the fire assay method using a 50-gram sample weight and ICP finish, and over limits for silver, lead, zinc and copper by specific four-acid digestions with ICP-AES finish for high grade materials.

Photos of prospecting sample sites at historic mines where significant silver values were obtained in rock chip grab samples: Providence mine (left) and Freemont mine (Right).

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

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

About Ximen Mining Corp.

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.

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 recently acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.

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

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FAQ

What are the key assay results reported by Ximen Mining Corp related to the Providence property?

Ximen Mining Corp reported assays of 884 grams per tonne silver and 1.36 grams per tonne gold from the Providence property.

What is the stock symbol for Ximen Mining Corp on the OTCQB?

The stock symbol for Ximen Mining Corp on the OTCQB is XXMMF.

How much drilling has been completed at the Providence property by Ximen Mining Corp?

Ximen Mining Corp has completed 755 metres of drilling at the Providence property.

When was the press release by Ximen Mining Corp issued?

The press release by Ximen Mining Corp was issued on October 19, 2020.

Where is the Providence property located?

The Providence property is located near Greenwood in southern British Columbia.