Ximen Mining Acquires Historic Ymir Protection Gold Property
Advancing precious metal assets in British Columbia
June 05, 2020
TSX.V: XIM
FRA: 1XMA
OTCQB: XXMMF
Ximen Mining Acquires Historic Ymir Protection Gold Property
Vancouver, B.C., June 05, 2020 – Ximen Mining Corp . (TSX.v: XIM) (FRA: 1XMA) (OTCQB:
XXMMF) (the “Company” or “Ximen”) is pleased to announce that it has acquired 100% interest
in a property covering several historic gold -silver mines and prospects near Ymir in southern
British Columbia.
The new property consists of 11 mineral claims covering approximately 1,600 hectares, and covers
the Protection (Goodenough), Blackcock, Arizona, Ymir-Good Hope, Commodore and part of the
Ymir historic mines. The claims also cover four other known prospects with similar style s of
mineralization including the Ymir Belle prospect from which a small amount of production was
recorded. The past production and calculated grades are presented in the table below.
Mine Tonnes
Mined
Tonnes
Milled
Oz Gold
Produced
Gold Grade
Grams/tonne
Oz Silver
Produced
Silver Grade
grams/tonne
Ymir
(not Ximen)
327,646 325,101 109,644 10.49 459,238 43.94
Protection 14,788 N/A 10,719 22.54 82,824 174.20
Blackcock 2,614 1,095 1,024 29.09 3,127 88.82
Arizona 296 230 148 20.02 232 31.37
Ymir-
Good Hope
41 8 29 112.75 127 493.75
Ymir Belle 9 N/A 7 24.22 10 34.55
Commodore 45 N/A 2 1.38 237 163.80
Notes: N/A = Not Available; calculated grades based on tonnes milled if available, otherwise tonnes mined
Ximen Mining Corp News Release
2
Map showing new property acquisition and current Ximen properties in Nelson -Salmo area.
The new property also covers a tailings deposit from the historic Wilcox mine. The Wilcox Mine
was a small, high-grade gold producer with a mill that processed about 14,555 tonnes of ore
between 1900 and 1940.
In 2005, the resource potential of the tailings deposit was estimated in a report titled “Wilcox
Mine Tailings - Gold Resource Evaluation” by Doug Warkentin, P.Eng., of Crucible Engineering
Services, Vancouver, B.C. Canada., dated September 17,2005. The average grade of the tailings
deposit was estimated at 3.09 grams gold per tonne, based on multiple assays of samples collected
on a grid pattern. The tonnage was estimated at 12,387 tonnes, based on depth and specific
gravity measurements. The in-situ gold potential was then estimated as 1230 ounces of gold. An
average gold recovery rate of 80% was projected based on metallurgical test results available.
Note: Ximen Mining Corp., is not treating this historical estimate as current mineral resources or
mineral reserves. A qualified person has not done sufficient work to classify this historic estimate as
current mineral resources or mineral reserves. Ximen considers this historic mineral resource estimate to
be relevant and reliant to the extent it was based upon the results of detailed sampling and metallurgical
test work. The historic estimate does not use the categories of Measured, Indicated and Inferred mineral
resources as defined by the Canadian Institute of Mining, Metallurgy and Petroleum and is non-compliant
Ximen Mining Corp News Release
3
with National Instrument 43-101. A new sampling campaign would be required to establish a current
resource estimate.
Map showing positions of Protection-Goodenough and Ymir mines. The two deposits may be part of the
same mineralized zone.
Photo of ore bin at former Protection-Goodenough mine.
Ximen Mining Corp News Release
4
The Company also acquired an additional 5 mineral claims covering approximately 589 hectares in
the Hall Creek area from the same vendor that connect Ximen’s Rozan and Stewart properties.
These claims also cover the Gold King, a small past producer of gold, silver and copper, and the
Independence and Mammoth gold-copper-silver and cooper-molybdenum prospects.
The new land acquisitions add to the total land package that Ximen has assembled since first
acquiring the Kenville gold mine. Earlier this year, properties were acquired from Emgold Mining
Corporation, Klondike Gold Corp. and 49er Creek Gold Corp. With this latest acquisition, Ximen’s
land package in the Nelson-Ymir-Salmo area now amounts to approximately 16,495 hectares.
Key points of the transaction include:
• 600,000 Ximen shares paid to arm’s length vendor
• The transaction is subject to TSX Venture Exchange approval.
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, [email protected]
Ximen Mining Corp News Release
5
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.
Ximen Mining Corp News Release
6
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, i t 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," "in tends," "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.
Ximen Mining Corp News Release
7
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