InvestmentPitch Media Video Discusses Ximen Mining's Plan to Open the Kenville Gold Mine Including Underground Drilling and Bulk Sample - Video Available on Investmentpitch.com

Vancouver, British Columbia--(Newsfile Corp. - July 3, 2019) - Ximen Mining (TSXV: XIM) (OTCQB: XXMMF) (FSE: 1XMA) is activating the existing exploration permit at the recently acquired Kenville Gold Mine for 1,200 meters of underground development and 20,000 meters of diamond drilling. The Kenville Gold Mine, located near Nelson, British Columbia, is the first recorded underground mine in British Columbia, having started production in 1890 and mined into the 1950's.

For more information, please view the InvestmentPitch Media "video" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Ximen" in the search box.

Cannot view this video? Visit:
http://www.investmentpitch.com/

The historical production records show 65,381 ounces gold produced from 158,842 tonnes milled, for a recovered grade of 12.8 grams per tonne (0.37 ounce per ton) gold. The mine was a track mine, utilizing a conventional room and pillar style of stope mining for narrow vein extraction, with jacklegs and slushers used for mining.

The host rock is a very competent granodiorite and the historical areas of the mine remain open without ground support. The Kenville gold deposit consists of multiple, gold-silver bearing quartz veins hosted by diorite.

Between 2007 and 2008, 13,000 metres of diamond drilling was conducted that targeted previously un-tested areas southwest of the historic mine, and detailed sampling was conducted within the mine on the 257 Level. Based on the mine sampling and drill hole information available at the time, new zones of gold mineralization were identified, and in 2009 a historic Mineral Resource Estimate was prepared showing 24,624 tonnes Measured and Indicated containing 16,289 ounces gold and 522,321 tonnes Inferred containing 356,949 ounces gold. Ximen is not treating this historical estimate as current mineral resources or mineral reserves.

After the resource estimate was made, an additional 14,106 metres of surface diamond drilling was conducted between 2009 and 2012, which intersected a new vein system in the areas south and west of the existing mine. Several holes intersected multiple, stacked quartz veins, and at least 4 new veins were identified. The system has potential dimensions of over 700 by 250 metres, which remains open in multiple directions. The newly discovered areas of veining are the target of the current mine development plan.

The first step is to drive a new underground decline with rubber tired trackless equipment that will facilitate both lateral and vertical development. This will provide access to the center of a series of vein intercepts from the 2009-12 surface drilling. The new decline will be driven to a target of 524 metres.

Underground drilling will then be done to outline areas of potentially mineable material, starting as the decline is advanced. About 4500 metres of underground drilling is expected to be required to outline sufficient material for a bulk sample of 10,000 tonnes. The project is estimated to take 6 months from the start of the new decline.

Ximen owns 100 percent interest in three precious metal projects located in southern British Columbia. In addition to the two gold projects, the Gold Drop Project and the Brett Epithermal Gold Project, 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.

For more information, please visit the company's website, www.XimenMiningCorp.com, contact Christopher R. Anderson, President and CEO, by email at office@XimenMiningCorp.com. For Investor Relations contact William Sattlegger at 604-488-3900 or email at ir@XimenMiningCorp.com.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:

InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46058