Mr. Christopher Anderson reports

XIMEN MINING CORP. CLOSES FINANCING

Ximen Mining Corp. has closed the non-brokered private placement originally announced on Nov. 4, 2022, by issuing 2,714,286 flow-through units at a price of seven cents for gross proceeds of $190,000. 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 and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 60 months from the date of issue, one additional non-flow-through common share of the issuer at an exercise price of 10 cents per share.

The net proceeds from the offering will be used by the company for exploration expenses on the company's British Columbia mineral properties.

All securities issued in connection with the flow-through offering will be subject to a hold period expiring April 22, 2023. The closing of this private placement financing is subject to final TSX Venture Exchange approval. There were no finder's fees paid on this placement. This flow-through private placement, originally announced on Nov. 4, 2022, is now closed.

Christopher Anderson, a director and/or officer of the company, participated in the offering constituting a related-party transaction pursuant to TSX-V Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101, as the fair market value of the transaction did not exceed 25 per cent of the company's market capitalization.

About Ximen Mining Corp.

Ximen Mining owns a 100-per-cent interest in three of its precious metal projects located in Southern British Columbia. 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 an option agreement. The option partner is making annual staged cash and stocks payments, as well as financing the development of the project. The company has also acquired control of the Kenville gold mine near Nelson, B.C., which comes with surface and underground rights, buildings and equipment.

We seek Safe Harbor.