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Ximen Mining Corp (3)
Symbol XIM
Shares Issued 29,942,879
Close 2023-12-11 C$ 0.20
Market Cap C$ 5,988,576
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Ximen Mining details eighth Amelia drill hole

2023-12-12 09:13 ET - News Release

Mr. Christopher Anderson reports

XIMEN MINING HOLE 8 INTERSECTS MCKINNEY VEIN AGAIN - AMELIA GOLD PROJECT - CAMP MCKINNEY, BC

Ximen Mining Corp. has provided information from its eighth drill hole at the Amelia gold project in Camp McKinney near Rock Creek in Southern British Columbia.

Ximen has now drilled eight holes to test the extension of the historic Cariboo-Amelia gold mine in Camp McKinney in the Greenwood mining division, B.C. The Cariboo-Amelia mine was B.C.'s first dividend-paying gold mine. Over its 68-year history, the mine produced 81,602 ounces of gold and 32,439 ounces of silver from 112,254 tonnes milled (B.C. Minfile records). The mine is situated within a four-kilometre system of gold-quartz veins and historic workings.

Hole AM23-08 intersected the extension of the McKinney vein beneath the eastern end of the historic mine. Eight NQ-size drill holes have been completed for a total of 2,064 metres. The target vein was intersected in five holes (AM23-01, 3, 5, 7 and 8) between 30 and 45 metres below the lowest mine level and over a strike length of 150 metres.

The mineralized intercepts range in core length from 0.26 metre to 0.70 metre and contain pyrite, sphalerite, galena and chalcopyrite. Hole AM23-08 intersected the vein within a mineralized quartz stringer alteration zone. The vein consisted of blue quartz containing fine-grained pyrite. The blue quartz is a local mine term for grey quartz that typically contains gold. Visible gold has not been observed, but this sulphide mineral assemblage is the same as that reported to occur in the vein where it was mined historically. Core samples will be sent for analysis once the geological logging and sampling are completed.

Holes AM23-03, 04, 05 and 08 also intersected a second mineralized vein about 50 metres south of the main vein that is also mineralized with pathfinder minerals. Its extent has yet to be determined.

Holes AM23-02, 04 and 06 targeted the zone at greater depths but did not intersect the vein. It is likely that the vein has been displaced by faults similar to those which occur in the upper levels of the mine, where the vein is displaced a relatively short distance to the south by flat-lying faults.

Over all, the results indicate there is potential for more tonnes to be mined below the lowest level of the mine workings and that there is potential for additional material in parallel zones.

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, PGeo, vice-president, exploration, for Ximen Mining and a qualified person as defined by National Instrument 43-101, approved the technical information contained in this news release.

About Ximen Mining Corp.

Ximen Mining owns 100-per-cent interest in three of its precious metal projects located in Southern B.C. 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 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.

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