Ximen Mining Corp to Complete Final Requirements to Start Kenville Gold Mine - Nelson, BC

Rhea-AI Summary

Ximen Mining Corp (TSXV: XIM, OTC: XXMMF) has provided an update on its Kenville Gold Mine project near Nelson, BC. The company is working with engineering and environmental consultants to complete several requirements before mine construction can begin. Key components include:

- Design work for a culvert across Fisherman Road
- Design for pump works and water retention tanks
- Water management system implementation
- Engineering report on building foundations and road stability
- Engineered drawings of planned underground excavations

The company aims to begin construction of the new underground decline later in 2025. Additionally, Director Wesley Warthe-Anderson has been appointed to the Audit Committee, joining Christopher Anderson, Roy Davis, and Scott Kent.

Positive

• Company progressing toward mine construction initiation
• Clear timeline for underground decline construction in 2025

Negative

• Multiple regulatory and engineering requirements still pending completion
• Additional infrastructure investments required before mining can commence

Vancouver, British Columbia--(Newsfile Corp. - February 19, 2025) - Ximen Mining Corp. (TSXV: XIM) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") is pleased to provide this update on activities at its Kenville Gold Mine project near Nelson in southeastern BC.

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Photo of geological team at Kenville mine in 2024

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3028/241355_70dc82c724876931_001full.jpg

The Company reports that it is working with engineering and environmental consultants to complete work required before mine construction can start. Design work is underway for a BC Ministry of Transportation and Infrastructure permit to construct a culvert across Fisherman Road. This is a key component of a drainage diversion that is required to be in place. A design for pump works and water retention tanks to protect the drainage channel in case of a flood event is also required.

A water management system for the site is required, comprised of tanks, pumps, and ditches for the mine water and contact water. An engineering report on mine site building foundations and road stability is in progress, with the site visit completed and engineer's report in preparation. Engineered drawings of planned underground excavations are also required to be completed.

These are the main steps to be completed before the mine construction can start. The Company is aiming to break ground for the new underground decline later this year.

The Company would also like to update that Mr. Wesley Warthe-Anderson, a current Director of the Company, has been appointed to the Audit Committee. The current Committee members are Christopher Anderson, Roy Davis, Scott Kent and Wesley Warthe-Anderson.

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 | 604-488-3900 | ir@XimenMiningCorp.com

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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 1XM 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241355

FAQ

What are the key requirements Ximen Mining (XXMMF) needs to complete before starting the Kenville Gold Mine construction?

Ximen Mining needs to complete culvert construction permits, design pump works and water retention tanks, implement a water management system, obtain engineering reports on building foundations and road stability, and complete engineered drawings of underground excavations.

When does Ximen Mining (XXMMF) plan to start the underground decline construction at Kenville Gold Mine?

Ximen Mining aims to break ground for the new underground decline later in 2025, pending completion of all required permits and engineering work.

What infrastructure improvements is Ximen Mining (XXMMF) planning for the Kenville Gold Mine?

Ximen is planning infrastructure improvements including a culvert across Fisherman Road, water retention tanks, pump works, a comprehensive water management system, and site building foundations.

Who are the current members of Ximen Mining's (XXMMF) Audit Committee?

The current Audit Committee members are Christopher Anderson, Roy Davis, Scott Kent, and newly appointed Wesley Warthe-Anderson.