Vancouver, B.C., January 28, 2020 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen” - https://www.commodity-tv.com/ondemand/companies/profil/ximen-mining-corp/) wishes to announce that is has increased its mineral claim holdings in Nelson and Greenwood areas in southern BC.
Ximen has agreed to purchase from a private individual 100% interests in the California Gold Nelson mineral claim in the Nelson Gold Camp, and the CMM mineral claim in the Camp McKinney Gold Camp. Both claims are in good standing with the California Nelson Gold claim good to 2025. There are no underlying royalties (NSR’s) on either property. Terms include cash payment of $30,000 and grant of Ximen shares equivalent to $50,000.
Google Earth Image showing Ximen’s Properties at Nelson
The California Gold Nelson mineral claim covers the historic California mine, located 6.5 kilometres east southeast of Ximen’s Kenville Gold mine. Several veins were identified on the property, including the California vein which extends over 600 metres along strike. The mine was developed on 3 levels and from 1910 to 1949 produced 2,258 ounces gold, 3,942 ounces silver, 19,5 tonnes zinc, and 8.1 tonnes lead from 1,454 tonnes mined (average mined grades of 48.3 grams per tonne gold and 84.3 grams per tonne silver). The No. 1 level (lowest) was driven along a barren vein for 366 meters and then intersected the mineralized California vein. The California vein was then followed for 91 metres where samples indicated an average grade of 29.2 grams per tonne gold over widths between 1.2 and 1.5 metres (as reported in the BC Annual Report of the Minister of Mines for 1919). The vein remains open for exploration above, below and to the west of this location (refer to the diagram below).
Longitudinal section of the California vein showing target area (green outline).
Google Earth Image of Camp McKinney showing new claim 1073936
At Camp McKinney, the addition of mineral claim 1073936 further consolidates Ximen’s holdings surrounding the historic Caribou-Amelia gold mine.
Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.
On behalf of the Board of Directors,
“Christopher R. Anderson”
Christopher R. Anderson,
President, CEO and Director
Investor Relations: Sophy Cesar, 604-488-3900, [email protected]
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 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 a 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