Advancing precious metal assets in British Columbia
Advancing precious metal assets in British Columbia
May 09, 2023 TSX.V: XIM
FRA: 1XMA
OTCQB: XXMMF
Ximen Mining Corp
2023 Exploration Plans
Historic Mining Camp
Greenwood BC
Vancouver, B.C., May 09, 2023 – Ximen Mining Corp . (TSX.v: XIM) (FRA: 1XMA) (OTCQB:
XXMMF) (the “Company” or “Ximen”) announces plans for its 202 3 exploration programs in
southeastern BC.
Ximen is focused on precious and critical metals in southeastern BC and has six mineral project
areas, including Wild Horse, Quartz Mountain, Nelson, Greenwood, Brett and Treasure Mountain.
The Company’s field programs are directed from its command base in Greenwood, BC.
Ximen Mining Corp News Release
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The Wild Horse project consists of 156 claims covering 13,948 hectares and 25 mineral
occurrences. The project is located northeast of Fort Steele Cranbrook, B.C and covers source
areas for the historic Wild Horse River placer gold deposit. Hard rock gold was discovered in this
area as early as 1895 (Midas) and 1899 (Big Chief) (BC Assessment report 27713). These
occurrences consist of quartz veins and breccia associated with northeast-trending syenite dikes.
In 2015, gold mineralization was found to the southwest along strike of the Midas on Ximen’s
Lone 4 claim on Gold Mountain, where gold-bearing quartz veins occur in northeast trending
shears and breccias (BC Assessment report 35844). The Lone 4 was drilled in 2016 but the hole
stopped in mineralization. In the summer of 2021, further diamond drilling intersected quartz
stockwork and breccia-style mineralization extending down from the end of a 2016 hole. A
mineralized interval combined from both holes was 86 meters length with an average of 0.36
grams per tonne gold (BC Assessment report 39757). The results indicate potential for a bulk-
minable gold deposit. Ximen’s property also covers zinc occurrences with similarities to the
historic world-class Sullivan deposit. Last year, a geophysical survey, reconnaissance rock
sampling and a soil geochemical survey were conducted. Five areas of multi-element anomalous
values were identified by the soil geochemical survey, of which the highest priority consisted of
anomalous geochemical values for gold (0.017 and 0.025 ppm), copper (23.8 ppm), arsenic (12.2
ppm), lead (17.6 and 16.9 ppm) and zinc (17.3 ppm) over 125 meters along the northernmost
survey line. This year, Ximen plans to drill an area where gold was previously panned from
overburden samples (BC Assessment report 32412).
The Quartz Mountain property is located 12.5 km southwest of Kimberly, B.C. and consists of 76
claims covering 3,829 hectares and 13 mineral occurrences. Rock and soil geochemical surveys
were conducted last year and confirmed the presence of high -tenor gold mineralization at the
Anderson pit occurrence (12.2 grams per tonne gold over 1.2 meters) . Plans for 2023 are to
conduct rock and soil geochemical surveys at the Running Wolf and Rome and Valley occurrences.
At Nelson, Ximen now controls approximately 21,476 hectares of mineral claims, covering 57
mineral occurrences including the Kenville gold mine. In addition to continuing to develop the
Kenville mine project, Ximen is conducting exploration on the surrounding claims. The 2023
exploration program will include metallurgical testing of tailings samples from the Wilcox tailings
deposit near Ymir and field evaluations of other occurrences. Detailed work in 2023 will focus on
the Star property, where drilling is planned later in the season to test for bulk-minable copper-gold
mineralization. Drilling is also planned for the California and Venus-Juno historic gold mines.
In the Greenwood area, Ximen controls 57 mineral claims covering 21,683 hectares and 56 mineral
occurrences, including the Bud-Elk and Amelia properties which are permitted for drilling. Bud-
Elk is being targeted for bulk -minable copper gold skarn and porphyry deposits. The Amelia
property covers one of BC’s oldest lode gold mines and is being targeted for extensions to the
historic mine.
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The Brett property consists of 46 claims covering 20,273 hectares and 18 mineral occurrences.
This property was discovered in 198 3 and new gold zones have been identified every year that
exploration has been conducted. Ximen is applying advanced geochemical techniques
(multivariate statistical analysis ) to determine pathfinder element associations with differing
alteration and mineralization styles and is refining its 3D geological model. Airborne magnetic and
LIDAR surveys were flown in 2022. In 2023, s urface drilling is planned to further test for bulk -
minable and bonanza gra de epithermal -style gold mineralization. Permitting for underground
development is also underway.
Ximen’s Treasure Mountain property (43 claims covering 10,819 hectares) is under option to
New Destiny Mining Corp (TSXV: NED). The property is permitted for drilling. An airborne
LIDAR survey was flown over the entire property in 2022 to aid in locating historic workings
and geological structures related to mineralization. In 2023, drilling and/or rock geochemistry is
planned for the Railroad and Jim Kelly and Rio Grande mineral occurrences.
Note: Soil geochemical analyses reported herein for the Wild Horse project consisted of aqua
regia digestion and ICPMS (Inductively coupled plasma – Mass Spectroscopy) determination on
a 50-gram sample. This multielement package provides results for 51 elements including gold and
silver. Quality control blank and certified reference samples were inserted into the sample stream
at a frequency of 1 in 20 for each type, or one control sample every 10 samples. Rock geochemical
analyses reported herein (Quartz Mountain property) were by fire assay of a 50 gram sample and
determination by atomic absorption spectrometry.
Readers are cautioned that historical records referred to in this News Release have been examined
but not verified by a Qualified Person. Further work is required to verify that historical records
referred to in this News Release are accurate.
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
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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 a n 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.
Ximen Mining Corp News Release
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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 regardin g 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 Excha nge 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