Ximen Mining Completes Acquisitions in the Nelson Gold Camp and Advances
Advancing precious metal assets in British Columbia
March 20, 2020
TSX.V: XIM
FRA: 1XMA
OTCQB: XXMMF
Ximen Mining Completes Acquisitions in the Nelson Gold Camp
and Advances
Kenville Toward Production
Vancouver, B.C., March 20, 2020 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB:
XXMMF) (the “Company” or “Ximen”) is please d to provide the following update on recent
property acquisitions and upcoming activities in the Nelson and Greenwood mining camps in
southern British Columbia.
“Now that we have completed this part of our acquisition plan, we will move
forward at Kenville as planned to start mining. As early as next week we’ll
have boots on the ground, and the crew will begin refurbishing the Kenville
mine portal before building t he portal for the new decline. As soon as this
part is finished, we can start cracking rock. The most exciting time for Ximen
Mining starts right now!” Stated Anderson, CEO of Ximen Mining Corp
Beginning in January of this year, Ximen has been very active with acquisition of several claim
groups in the Nelson mining camp that are located near Ximen’s Kenville mine. A total of 13,667
hectares have been acquired from seven separate groups. Ximen’s total holding in the Nelson area
now stands at approximately 14,234 hectares.
Number Ximen Claim Group Tenures Hectares
1 Kenville 3 566.78*
2 California Mine 2 168.44
4 Rozan 32 1950.00
5 Stewart 28 5788.56
3 Ron 29 1166.94
4 Clubine 5 232.01
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6 49er Creek 107 4276.83
7 Gold Hill 1 42.18
8 GH Arlington 1 42.20
Total 14,233.94
• Includes Crown Granted mineral titles
Satellite image showing Ximen’s Nelson area holdings.
In the Greenwood mining camp, Ximen recently acquired 6 mineral claims covering a total of
380.6 hectares from Saville Resources Inc. Earlier, Ximen had acquired one mineral tenure from
a private party. Ximen’s holdings in the Greenwood area now total approximately 17,152 hectares.
This excludes the Gold Drop property (2,269 hectares) which was acquired from Ximen by GGX
Gold Corp in 2019 (Ximen retains an NSR royalty and a back in right on the Gold Drop).
Number Ximen Claim Group Tenures Hectares
1 Greenwood-Various 20 16281.36
2 LB Gold 1 84.63
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3 Bud and Elk 7 805.64
Total 17,151.63
Satellite image showing Ximen’s Greenwood area holdings.
Ximen will continue to pursue property acquisitions to further consolidate its holdings in these
historic mining camps.
2020 Work Programs:
At the Kenville Gold Mine, the Company will start work imminently on refurbishing the existing
portal to the Kenville mine which will be utilized as an egress and ventilation for the new Portal .
Once that is complete, work can proceed on starting the new decline following ministry final
approval of the development program.
At the Br ett epithermal gold p roject near Vernon, BC, work planned includes a 200 metre
extension of the underground drift along the Main Zone and underground diamond drilling of the
Main and parallel zones. Ximen is waiting for the Ministry of Mines to complete its review and
approval of this program. As well, field exploration work is planned including surface rock
sampling and geophysics.
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At Greenwood, an exploration permit is in place for field work to begin on the Providence property
once the snow pack has melted. The planned work includes rock sampling, trenching and drilling.
In light of the current market conditions Ximen is actively pursuing opportunities and synergies to
increase its precious metals land holdings in southern BC with the objective of being able to build
resources in the region. With shareholder support, the input from Ximen’s Financial advisors at
Laurentian Bank and the continued support from the $8,000,000 credit facility that allows Ximen
to access capital when required via private placements, has put the company in the fortunate
position to take advantage of opportunities resulting from the current market environment.
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.
Further the company is pleased to announce that it has closed the first tranche of its non-brokered
private placement previously announced on March 5, 2020. The placement consisted of 1,200,000
flow through shares at a price of $0.50 per share for gross proceeds of $600,000. Each Flow -
Through share consists of one common share that qualifies as a “flow -through share” as define d
in subsection 66(15) of the Income Tax Act.
The net proceeds from the Offering will be used by the Company for exploration expenses on the
Company’s British Columbia mineral properties. The Company paid a cash commission of
$42,000 and issued 84,000 finders warrants to Qwest Investment Fund Management Ltd. The
finder warrants are valid for 2 years from closing with an exercise price of $0.50. All securities
issued in connection with the flow through Offering will be subject to a hold period expiring July
10, 2020.
The Company is also pleased to announce that it has closed a tranche of its drawdown equity
financing facility with Alumina Partners (Ontario) Ltd., an affiliate of New York -based private
equity firm Alumina Partners LLC. In this tran che closed on March 9, 2020, the Company drew
down $150,000 from Alumina with Alumina receiving 454,545 units of Ximen consisting of a
common share priced at $0.33 per share and a 36 -month warrant exercisable at $0.55 per share.
The hold expiry date for the placement is July 7, 2020. The net proceeds from the private placement
will be used for the further exploration on the Company’s British Columbia mineral properties and
general working capital.
On behalf of the Board of Directors,
“Christopher R. Anderson”
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Christopher R. Anderson,
President, CEO and Director
604 488-3900
Investor Relations: Sophy Cesar, 604-488-3900, [email protected]
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.
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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 simila r 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, es timates 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.
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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