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Ximen nears completion of 257 Portal installation at Kenville Gold Mine and moves closer to production

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Ximen is initiating the final steps required for the new decline permit which requires a number of steps such as a Technical Assessment Report summarizing environmental aspects, public notification, engagement with selected First Nations groups, agency referrals, a notification and engagement report, and completion of Declarations of Competency and signed Conflict of Disclosure Statements by qualified professionals.

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Additional Information:

Company: Ximen Mining
Website: http://www.XimenMiningCorp.com
Stock Symbol: TSXV: XIM
Date Published: Sep 3, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Ximen Mining continues to progress towards gold production at its Kenville Mine in the Nelson mining camp.

Work on the 257 portal continues with the excavation completed.

Geotechnical drilling and bolting secured the overburden above the portal excavation followed by the installation of the new steel sets to replace the original timbers, prior to placement of the new steel culvert which is already on site.

When everything is installed, management states they will be “ready to start breaking rock”.

This portal will provide access to the Kenville Mine 257 Level, which will be utilized later when it is connected to the new decline by a raise.

The raise will be constructed once the decline advances below the mine and will provide ventilation and a second egress from the mine.

This will facilitate access to the mineralized areas outlined in the 2009 historic resource estimate.

Once the 257 portal rebuild is complete, the company can start on the new decline following final ministry approval of the program.

Ximen is initiating the final steps required for the new decline permit which requires a number of steps such as a Technical Assessment Report summarizing environmental aspects, public notification, engagement with selected First Nations groups, agency referrals, a notification and engagement report, and completion of Declarations of Competency and signed Conflict of Disclosure Statements by qualified professionals.

As daunting as this sounds, the notification process has started and the company is working with consultants and expects to complete the remaining items within two weeks.

Ximen has been highly active this year acquiring several properties in southern BC, particularly in the well-known Nelson Gold mining camp surrounding Ximen’s Kenville Gold mine.

Ximen’s total holding in the Nelson-Salmo area now stands at approximately 18,983 hectares and the total land holdings controlled by Ximen in southern BC is now approximately 86,448 hectares.

Ximen Mining also owns 100% interests in 3 other precious metal projects located in southern BC., the Amelia Gold Mine and The Brett Epithermal Gold Project, and the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine.

Currently, the Treasure Mountain Silver Project is under an option agreement, with the option partner making annual staged cash and stocks payments as well as funding the development of the project.

Ximen recently divested its interests in the Gold Drop Property in southern British Columbia to GGX Gold Corp, retaining a 2.5% NSR and a meaningful share position.

Ximen’s shares are trading at $0.57.

For more information, please visit the company’s website, www.XimenMiningCorp.com, contact Christopher R. Anderson, President and CEO, at 604-488-3900.

For Investor Relations, contact Sophy Cesar, at 604-488-3900 or by email at ir@XimenMiningCorp.com.

I’m Megan Edwards for Investmentpitch Media