Advancing precious metal assets in British Columbia Ximen Mining Expands Precious Metals Exploration for 2019
Advancing precious metal assets in British Columbia
Ximen Mining Expands Precious Metals Exploration
for 2019
Vancouver, B.C., April 16, 2019 – Ximen Mining Corp . (TSX -V: XIM, “ Ximen” or the
“Company”) announces that it is significantly expanding its precious metals exploration efforts
for 2019, with programs underway and being scheduled on multiple properties.
At the Brett property near Vernon, BC, a permit application will be filed this month to extend the
historic mine drift along the trend of the Main Zone and conduct underground drilling. This
program is aimed at defining mineralized shoots on the Main Zone and exploring for parallel
mineralized structures. A 291 tonne bulk sample was previously mined from the Main Zone,
from which the average grade from the smelter was 27.74 grams gold/tonne and 63.7 grams silver
/tonne.
At the Kenville Gold Mine near Ne lson, BC (see news release dated April 8, 2019), a detailed
compilation of exploration and historic mining information is planned by Ximen. This work will
be aimed at defining targets for possible trial mining. The Kenville Gold mine was the first hard
rock gold mine in British Columbia , with recorded production of 2,029 kilograms of gold, 861
kilograms of silver, 23.5 tonnes of lead, 15 tonnes of zinc, 1.6 tonnes of copper and 37 kilograms
of cadmium from 181,395 tonnes processed.
The Company is also initiating field work at the recently acquired Providence property of 12,900
hectares near Greenwood, BC (see news release dated April 5, 2019) . This property surrounds
the Gold Drop Property , where GGX Gold Corp. (TSX.V: GGX). is currently diamond drilling
under an option agreement . The Providence property covers a total of eleven known mineral
occurrences including the historic past producing Providence mine that produced 183 kilograms
of gold, 42,552 kilograms of silver, 183 tonnes of lead, 118 tonnes of zinc from 10,426 tonned
mined. Geological reconnaissance and rock geocheical sampling are planned to further
investigate the historic mine dumps intial ly identified. Soil geochemistry and trenching will then
be planned with a view to generate drilling targets.
April 16, 2019 TSX.v : XIM
FRA : 1XMA
OTCQB : XXMMF
Ximen Mining Corp News Release
2
The Company is also pleased to announce that it has closed its previously announced non -
brokered private placement of 675,000 flow through shares at a price of $0.60 cents per share for
gross proceeds of $405,000. Each Flow -Through share consists of one common share that
qualifies as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act.
The net proceeds from the Offering will be used by the Company for exploratio n expenses on the
Company’s British Columbia mineral properties.
All securities issued in connection with the Offering will be subject to a hold period expiring
August 12, 2019
The Company also announces that it has granted 200,000 options at an exercise price of $0.85 to
directors, officers, employees and consultants . The options are exercisable for five years and will
be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the
Company. The options are subject to regulatory 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
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in all three of its precious metal projects. Ximen`s
two gold projects, The Gold Drop Project and Brett Gold Project are located in southern British
Columbia. Ximen also owns the Treasure Mountain Silver project adjacent to the past producing
Huldra Silver Mine. 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 1XM and WKN with the number as
A1W2EG.
This press release contains certain "forward -looking statements" within the meaning of Canadian securi ties
legislation, including statements regarding the completion of a proposed Offering and the use of the Offering
proceeds to further explore the Company’s project s. 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, iden tified 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
Ximen Mining Corp News Release
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are made a nd 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 t he 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 Company is not
satisfied with its further due diligence investigations and possibility that the TSX Ven ture Exchange may not accept
the proposed transaction. 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