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Ximen Mining has made its final $1 million cash payment on the Kenville Mine

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Work at the Kenville Gold mine site is steadily progressing toward starting the new decline, where it is estimated that 4500 meters of underground drilling will be required to appropriately outline material for a bulk sample of 10,000 tonnes.

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Company: Ximen Mining
Website: http://www.XimenMiningCorp.com
Stock Symbol: TSXV: XIM
Date Published: Nov 4, 2019
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

Ximen Mining has made its final $1 million cash payment on the Kenville Mine.

Ximen Mining has now purchased the balance of Gungnir Resources’ 4% gross metal royalty for a total consideration of $1.7 million.

The 100% owned Kenville Gold Mine, located near Nelson, B.C., is the first recorded underground mine in British Columbia.

Work at the Kenville Gold mine site is steadily progressing toward starting the new decline, where it is estimated that 4500 meters of underground drilling will be required to appropriately outline material for a bulk sample of 10,000 tonnes.

The grounds and buildings have been cleaned and powered, overburden stripping has been completed at the portal site, which is now ready to start breaking ground for the new portal.

A site visit was conducted by the BC Ministry of Environment, who were very positive about the project and the proposed water discharge, requesting some additional information prior to the water discharge permit being issued.

Samples collected and analyzed demonstrated good water quality and continuity, with the discharge water clean enough to drink as shown in this video.

Christopher R. Anderson, President and CEO, stated: “Over the years several water bottling companies have proposed and pursued the company for the propose of bottling the Kenville mines water discharge for commercial operations, The water quality more than exceeds BC Drinking Water Quality Guide lines, so I thought I would try it myself, it proved to be a fantastic way to quench my thirst."

A consulting firm was engaged to analyze the potential for acid rock drainage for waste rock from the new underground drive.

Samples of core from the area of the planned decline were collected for analysis and have been submitted to the lab.

The host rock that encompasses the entire mine site is made up of diorite, which has previously been tested by the company with independent labs.

At that time it was proven to be acid neutralizing, which the company is currently reconfirming.

Nelson Power recently installed a new power pole near the new proposed portal site to allow for connection to the new line for a 3-phase installation with electricity generated from the Kootenays hydro dam to power the ventilation air system, compressors and pumps making the operation completely electric.

Christopher Anderson and the rest of the Ximen team were recently interviewed at the Kenville Mine.

The video is available on www.InvestmentPitch.com.

In addition to the Kenville Mine, Ximen owns 100 percent interest in several precious metal projects located in southern British Columbia.

In addition to the Gold Drop Project, the Brett Epithermal Gold Project, and the recently acquired Amelia Gold Mine, Ximen also owns the Treasure Mountain Silver Project adjacent to the past-producing Huldra Silver Mine.

Currently both the Gold Drop Project and the Treasure Mountain Silver Project are under option agreements, with the option partners making annual staged cash and stocks payments as well as funding the development of these projects.

Ximen’s shares are trading at $0.32.

For more information, please visit the company’s website, www.XimenMiningCorp.com, contact
Sophy Cesar, Investor Relations, at 604-488-3900 or by email at ir@XimenMiningCorp.com.

I’m Fiona Forbes for Investmentpitch Media