Mr. Christopher Anderson reports

XIMEN MINING CLOSES FINANCING

Ximen Mining Corp. has closed the non-brokered private placement originally announced on Dec. 15, 2023, by issuing 2.5 million flow-through units at a price of 20 cents for gross proceeds of $500,000. Each flow-through unit 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-half common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow-through common share at the price of 25 cents for 36 months after closing.

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

The company paid a cash commission of $16,000 and issued 80,000 finders warrants to Qwest Investment Fund Management Ltd. The finder warrants are valid for three years from closing with an exercise price of 20 cents. The company also paid a cash commission of $2,240 and issued 11,200 finder warrants to PI Financial Corp. and paid a cash commission of $4,400 and issued 22,000 finder warrants to Canaccord Genuity Corp. These finder warrants are valid for three years from closing with an exercise price of 25 cents.

The financing closed in two tranches with the first tranche of one million shares having a hold period until April 21, 2024, and the second tranche of 1.5 million shares subject to a hold period expiring April 29, 2024. The closing of this private placement financing is subject to final TSX Venture Exchange approval.

The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)). An amount equal to the gross proceeds from the issuance of the flow-through shares will be used to incur eligible resource exploration expenses which will qualify as (i) Canadian exploration expenses (as defined in the tax act), and (ii) as flow-through critical mineral mining expenditures (as defined in Subsection 127(9) of the tax act). Qualifying expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the FT shares will be incurred (or deemed to be incurred) by the company on or before Dec. 31, 2024, and will be renounced by the company to the initial purchasers of the FT shares with an effective date no later than Dec. 31, 2023.

Christopher Anderson, a director and/or officer of the company, participated in the offering constituting a related party transaction pursuant to TSX Venture Exchange 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 is focused on acquiring high-grade gold assets in Southern British Columbia, with easy access and solid infrastructure. Ximen aims to build a gold mining company with the blue-sky potential of a land package with multimillion ounces of gold targeting over 10 million ounces. Ximen strives to always to take a 100-per-cent interest in all its projects and assets. The company has bought out all the possible net smelter royalties on its key mineral precious metal assets and several other assets in the vicinity of its holdings. Simultaneously, Ximen is advancing the Kenville gold mine forward and on the path toward production. The focus remains on meeting all the established targets while at the same time maintaining aversion toward debt and dilution, all while moving forward with responsible development and sustainable mining and exploration practices building ethical and sustainable value.

Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the U.S. 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.

We seek Safe Harbor.