Ximen Mining 2020 Prospecting Samples up to 13.1 g/t Gold Historic Nelson Mining Camp

Rhea-AI Summary

Ximen Mining Corp. (OTCQB:XXMMF) announced promising results from rock samples collected at its properties near Nelson, BC. Notably, a sample from the Ymir-Protection mine produced 13.1 grams per tonne gold and 145 grams per tonne silver. Overall, out of 16 samples, 8 returned significant precious metal values, with key findings from the California and Good Hope mines. The company is applying for exploration permits for the California mine and aims to finalize permitting for new underground development at the Kenville mine this spring.

Positive

• Ymir-Protection mine sample assay: 13.1 g/t gold and 145 g/t silver.
• 8 out of 16 rock samples returned significant precious metal values.
• Exploration permit applications submitted for California mine and surrounding areas.
• Anticipation of finalizing permitting for new underground development at Kenville mine this spring.

Negative

• No negative aspects identified.

VANCOUVER, BC / ACCESSWIRE / March 10, 2021 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") is pleased to announce results from prospecting samples collected its properties at Nelson in southern British Columbia.

Photograph of the Ymir-Protection mine dump from which sample D0004168 assayed 13.1 grams per tonne gold and 145 grams per tonne silver.

Longitudinal section of California mine showing target area.

Analytical results were received for the remainder of rock samples collected last season on claims surrounding the company's Kenville Mine near Nelson, BC. A total of 16 rock chip samples were collected of which 8 samples returned significant values for precious metals. Four samples returned significant results from the first 9 samples analyzed (as announced in a news release dated February 12). Four additional significant results were obtained from the remaining samples (see table below).

Gold (g/t)	Silver (g/t)	Copper %	Nearby Showing	Rock Type	Sample
13.1	145	0.16	Ymir-Protection	Quartz float, pyrite and galena, mine dump	D0004168
8.4	14.1	N/S	California	Quartz vein in mine, pyrite	D0004171
3.78	11.3	N/S	California	Quartz grab, pyrite	D0004172
2.82	1.61	N/S	Good Hope	Quartz float, pyrite	D0004165
9.04	72.8	1.27	Venus	Quartz float, chalcopyrite	D0004152*
8.81	0.26	N/A	Oro Fino	Quartz float, pyrite	D0004162*
3.99	1.88	N/A	Pingree	Quartz float, pyrite	D0004155*
1.76	41.0	1.01	Josie	Quartz vein, chalcopyrite	D0004154*

N/S = not significant, g/t = grams per tonne; * previously announced

The highest precious metal values were obtained from a sample of the Ymir-Protection mine dump (13.1 grams per tonne gold and 145 grams per tonne silver). This historic mine was operated intermittently between 1899 and 1973 and produced 10,719 ounces of gold, 82,824 ounces of silver and significant lead and zinc from 14,788 tonnes mined. The deposit consists of shear-hosted quartz veins mineralized with gold, pyrite, galena and sphalerite.

Two samples containing high gold values were collected from the California mine (8.4 and 3.8 grams per tonne gold). This historic mine operated intermittently between 1910 and 1947 and produced 2,258 ounces of gold, 3,942 ounces of silver and significant lead and zinc from 1,454 tonnes mined. Mineralization consists of multiple quartz veins containing free gold, pyrite, galena and sphalerite. At the west end of the No. 3 level, a potential tonnage was identified in a block measuring 91 metres long and 1.1 to 1.5 metres in width, with an average grade reported from historic samples as 29.0 grams per tonne gold (BC Assessment report 11027).

Photo of open hole on California property where sample D0004171 assayed

8.4 grams per tonne gold.

The Good Hope historic mine was developed as early as 1911 and produced 90 ounces of gold and 80 ounces of silver from 48 tonnes reported mined. Mineralization consists of bands and lenses of quartz that locally contain pyrite and chalcopyrite with free gold in oxidized portions of the mineralized zones.

Quartz mineralized with pyrite from Good Hope prospect that assayed 2.82 grams per tonne gold.

Ximen is now submitting applications for exploration permits for the California and other areas surrounding the Kenville mine property. At the Kenville mine project, Ximen expects that permitting of new underground mine development will be finalized this spring.

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.

Readers are cautioned that historical information including the assay and production 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

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 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 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.

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FAQ

What are the latest results from Ximen Mining Corp. regarding gold and silver samples?

Ximen Mining Corp. reported that a sample from the Ymir-Protection mine assayed 13.1 grams per tonne of gold and 145 grams per tonne of silver.

How many rock samples returned significant values for precious metals?

Out of 16 rock samples collected, 8 showed significant values for precious metals.

What is the significance of the California mine findings for Ximen Mining Corp.?

The California mine yielded samples with high gold values, indicating potential for future mining success.

Is Ximen Mining Corp. planning any new developments?

Yes, Ximen Mining Corp. is submitting applications for exploration permits and anticipates finalizing permitting for new underground development at the Kenville mine.