Ximen Receives Mines Permit for Kenville Gold Mine Nelson, Bc

May 01, 2023 at 14:10 PM EDT

Vancouver, B.C., February 23, 2023 – Ximen Mining Corp. (TSX.V:XIM) (FRA:1XMA) (OTCQB:XXMMF) (the “Company” or “Ximen”) announces that it has received the draft of the Mines Act Permit for the underground development program at its Kenville Gold Mine from the BC government.

The Company has now received two permits in draft, one from the Ministry of Environment and this recent one from the Ministry of Energy, Mines and Low-Carbon Innovation. The draft Environmental Permit was received earlier and has been reviewed and approved by Ximen. The Company has now submitted its final responses and we anticipate the final permit to be issued shortly.

Mine Manager, Mr. Lloyd Penner

Now received is the all-important Mines Act Permit draft approving the following key activities:

Establishment of the new Venango Portal and 1200 m of decline development at this portal with associated re-mucks, safety bays and sumps
Underground Exploration Drilling (20,250 m) from the new Venango decline
Establishment of one Waste Rock Storage facility (approx. 3750 m²)
Installation of surface water management structures
Location of one portable office structure
Onsite fuel storage (two 4,500 enviro tanks)

The Company is very pleased with the permit draft and has reviewed the conditions that apply prior to and during the development program, a majority of which have already been met. Ximen is making a final review of the exact wording and conditions. Once our review has been completed and relayed to the Mines department, the final Mines Act Permit is expected to be received.

Map showing revised Kenville mine permit boundary

Key highlights of the Draft Permit conditions are:

Reclamation Security: $103,800 must be posted with the Minister of Finance
Construction to be completed under the supervision of a Professional Engineer
Finalizing the development and implementation of a Ground Control Management Plan that is consistent with industry standards
Waste rock dumps must be developed in accordance with the design and recommendations prepared by a Professional Engineer
A foundation inspection must be completed by a Professional Engineer prior to waste rock dump construction
A monitoring well pair (shallow and deep) located near the underground workings must be installed and continuously monitored for water levels
The Archaeological Chance Find Procedure (CFP) must be implemented prior to commencement of work

Kenville Site (2023)

“This Permit brings us one step closer to, moving forward into a more sustainable self-reliant economy, working at expanding the art of underground mining, a long industrious trade that empowers those executing the work with a sense of accomplishment and pride, while maintaining our environment and utilizing hydro, a green energy source to advance the project.

The Kenville Gold Mine is again making firsts, it was the first Underground Gold mine in BC, and now will be achieving first, as Ximen completes one more milestone bringing us closer to empowering families with the opportunity to embrace a sustainable income, all within 15 minutes of their homestead.

This, while respecting and maintaining the beauty and abundance of all that surrounds us and adds to the quality of our lives, providing for your family, building a happy healthy community, while doing it in a socially responsible manner with minimal impact on the environment. This is our focus, as we proudly advance towards opening what we consider to be one of the greenest gold mines in Southern BC, The Kenville Gold Mine,” states Anderson, CEO.

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,

signature Ximen Receives Mines Permit for Kenville Gold Mine Nelson, Bc

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 are 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 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.

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

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Ximen Receives Mines Permit for Kenville Gold Mine Nelson, Bc

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