Ximen to Post Reclamation Bond for Kenville Gold Mine Nelson, BC

Rhea-AI Summary

Ximen Mining Corp has announced it will post an additional reclamation security deposit of $83,000 at its Kenville Gold Mine project in southeastern British Columbia, bringing the total security to $103,800. This request from the Ministry of Energy, Mines and Low-Carbon Innovation indicates that permitting for the project is nearing completion. CEO Christopher R. Anderson expressed optimism about fulfilling reclamation obligations and moving forward with the project, which includes building water management infrastructure as soon as the snow melts. The Kenville project is poised for ground-breaking within months. The Company holds 100% interest in multiple precious metal projects in southern BC, including the Amelia Gold Mine and Treasure Mountain Silver Project.

Positive

• Request for an additional security deposit indicates nearing completion of permitting.
• Potential to begin infrastructure development within months after snow melts.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 10, 2023 / Ximen Mining Corp. (TSX.v:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") is pleased to announce that it has been requested to post an additional security deposit for reclamation at its Kenville Gold Mine project in southeastern BC.

Kenville Site (2023)

The Company has just received a letter from the Ministry of Energy, Mines and Low-Carbon Innovation (EMLI) formally requesting additional reclamation security bonding for the Kenville project. A top-up amount of $83,000 has been requested to bring the total security amount held to $103,800. A former permit on the property will be closed and all outstanding reclamation liability rolled into a single Mines Act Permit.

"We are pleased to have received the request to post additional reclamation security bonding for the Kenville Gold Mine project, as this signifies that permitting is finally close at hand. We are committed to fulfilling our reclamation obligations and look forward to moving forward with the project as soon as possible," States Anderson, CEO, of Ximen Mining Corp.

Photo of ore-type vein material from Kenville.

Reclamation bonding is the final step before the Mines Act permit is granted and the request for security signifies that permitting is finally close-in-hand for the Kenville Mine Project. The Company will be active as soon as the snow melts to build some required water management infrastructure and is anticipating breaking ground within months to start the mine project.

Photo of scooptram to be deployed at Kenville mine.

Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., a Qualified Person as defined by National Instrument 43-101 and VP Exploration for Ximen Mining Corp.

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 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 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

View source version on accesswire.com:
https://www.accesswire.com/748273/Ximen-to-Post-Reclamation-Bond-for-Kenville-Gold-Mine-Nelson-BC

FAQ

What is Ximen Mining Corp's recent announcement regarding the Kenville Gold Mine?

Ximen Mining Corp is required to post an additional reclamation security deposit of $83,000, totaling $103,800, indicating that permitting is close to completion.

What impact does the reclamation security deposit have on Ximen Mining Corp's Kenville Gold Mine project?

The additional security deposit is a necessary step before the Mines Act permit is granted, allowing the project to advance.

When is Ximen Mining Corp planning to break ground at the Kenville Gold Mine?

Ximen Mining Corp anticipates breaking ground within months, as soon as the snow melts.

What is the total amount of reclamation security for the Kenville project?

The total reclamation security amount for the Kenville Gold Mine project is $103,800 after the new deposit.

Who requested the additional reclamation security for the Kenville Gold Mine?

The Ministry of Energy, Mines and Low-Carbon Innovation formally requested the additional reclamation security.