Ximen Mining Engages Engineering Firm Micon International Ltd for Technical Support on the Kenville Gold Mine

Rhea-AI Summary

Ximen Mining Corp (OTCQB:XXMMF) has contracted Micon International Limited to provide technical services for the Kenville Mine. The project aims to create a resource estimate to support a 10,000-tonne bulk sample from previously untested areas. The permitting process for mine development is progressing well, with the application currently under review. The Kenville Mine, British Columbia's first hard rock gold mine, has a historic production of over 65,000 ounces of gold. Ximen owns 100% of the Kenville Mine and is advancing its development plans.

Positive

• Contracted Micon International for technical support, enhancing project credibility.
• Progressing well with permitting for the Kenville Mine, indicating regulatory support.
• Focus on updating resource estimates to support potential increased yield from previously untested areas.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / May 25, 2021 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") is pleased to announce that it has contracted Toronto-based Micon International Limited (Micon) for technical services related to the Kenville Mine. Initially, Micon will create a resource estimate for the new decline project to support plans for a 10,000-tonne bulk sample. This new resource estimate is focused on areas of the Kenville Mine not previously reported on in earlier (historic) mineral resource estimates. Initial work by Micon will be an internal estimate to support planning for the bulk sample. Ximen then intends to convert this to a mineral resource estimate for public disclosure following NI 43-101 best practice guidelines once all QA/QC work and site visits are completed.

Ximen is continuing to advance its conceptual fast-track development schedule for the Kenville Bulk Sample. Permitting for the new mine development is progressing well with the application now under technical review by the Mines Review Committee.

Ximen CEO Anderson and Micon's Nigel Fung

The Kenville Mine was British Columbia's first hard rock gold mine, having been discovered in 1887. It was mined intermittently between 1890 and 1954, with recorded production of 65,381 ounces of gold, 27,685 ounces of silver, 23.5 tonnes of lead, 15 tonnes of zinc, 1.6 tonnes of copper and 37 kilograms of cadmium from 181,375 tonnes processed (BC Minfile records). The mine is located 8 km west of Nelson, BC, is accessible by paved road and is connected to the hydro power grid. Existing infrastructure includes mobile underground mining equipment, offices, mechanic shop, core storage and accommodation.

Plan map of Kenville mine showing target areas for new development and drill intercepts.

The Kenville gold deposit consists of multiple gold-silver quartz veins hosted by diorite. Between 2007 and 2012, diamond drilling was conducted that intersected new gold-silver mineralized veins in previously un-tested areas west and south of the historic mine. No mineral resource estimate was ever made for the new zones intersected by drilling west and south of the mine, but a resource estimate was completed in 2009 (now historic) for the mine area based on detailed sampling conducted within the mine (see news release dated April 8, 2019).

Ximen recently contracted Micon to do an updated mineral resource estimate to support its efforts to develop the areas west and south of the mine and an initial bulk sample plan for the Kenville west area.

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 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.

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 recent development has Ximen Mining Corp announced regarding the Kenville Mine?

Ximen Mining Corp has engaged Micon International Limited to undertake technical services for a resource estimate in support of a 10,000-tonne bulk sample.

What is the purpose of the resource estimate at the Kenville Mine?

The resource estimate aims to support plans for a 10,000-tonne bulk sample from previously untested areas of the Kenville Mine.

What historical significance does the Kenville Mine hold?

The Kenville Mine was British Columbia's first hard rock gold mine, with historic production of 65,381 ounces of gold.

How is the permitting process for the Kenville Mine going?

The permitting process is progressing well, with the application currently undergoing technical review by the Mines Review Committee.

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

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