22:48:38 EDT Mon 30 Jun 2025
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USA
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Ximen Mining Corp (3)
Symbol XIM
Shares Issued 52,222,715
Close 2024-11-27 C$ 0.095
Market Cap C$ 4,961,158
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Ximen completes archaeological assessment at Kenville

2024-11-27 17:55 ET - News Release

Mr. Christopher Anderson reports

XIMEN MINING CORP ONE STEP CLOSER TO START OF DEVELOPMENT AT KENVILLE GOLD MINE - NELSON BC

Ximen Mining Corp. has provided this update on activities at its Kenville gold mine project near Nelson in southeastern British Columbia.

"We are highly encouraged by the recent developments at the Kenville gold mine," stated Christopher R. Anderson, president, chief executive officer and director of Ximen Mining. "The completion of the archaeological impact assessment with no significant findings is a pivotal step forward. Additionally, the completion of geological logging of drill core from the recently completed groundwater monitoring wells has provided additional valuable insights as well. These two key accomplishments bring us one step closer to closing off final conditions in our permit and starting underground development. We are currently now proceeding to finalize the completion of the engineering design for a culvert crossing at Fisherman Road."

The company reports that an archaeological impact assessment (AIA) for a proposed construction site was recently completed successfully with no archaeological sites identified. The AIA involved excavation of five test pits over approximately 25 metres for a planned stream diversion involving an excavated channel. The next step is an engineering design for a culvert crossing Fisherman Road and the channel, which will be sent to the B.C. Ministry of Transportation and Infrastructure for approval before construction can proceed. The diversion is required to be in place before starting the mine development.

The company also recently completed geological logging of drill core from two groundwater monitoring wells drilled earlier this fall, which were required to be installed prior to starting the mine development. The pair of groundwater monitoring wells include one deep well and one shallow well. Hole 1 was drilled to 100.0 metres depth and hole 2 was drilled to 47.0 metres depth. The wells have been capped and equipped for monitoring. Both holes were drilled into dark grey, massive to locally foliated, medium grained, equigranular diorite of the Eagle Plutonic complex. A minor late-stage, cross-cutting mafic dike approximately three metres thick was also intersected near the top of the holes, which is composed of coarse grained, clinopyroxene with minor biotite. No major faults were observed in either hole. Hole 1 intersected a quartz vein (0.1-metre-thick) mineralized with disseminated pyrite and chalcopyrite. A half-core sample of this vein was cut and collected for assay.

In summary, work is progressing well towards completing all engineering and environmental requirements before the underground mine construction can start.

Dr. Mathew Ball, PGeo, vice-president of 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 British Columbia. Ximen owns 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 stock 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. Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the United States under the symbol XXMMF, and on the Frankfurt, Munich and Berlin stock exchanges in Germany under the symbol 1XM and WKN, with the number as A2JBKL.

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