Ximen Provides Update on Acquisition of Kenville Gold Mine

VANCOUVER, BC / ACCESSWIRE / May 9, 2019 / Ximen Mining Corp. (TSX-V: XIM, "Ximen" or the "Company") announces that, further to its news releases of April 8, 2019 and May 2, 2019, it has entered into five new arm's length agreements to acquire an additional 10,919,461 common shares ("Target Shares") of 0995237 B.C. Ltd., a private B.C. company ("0995237"). In consideration for these 10,919,461 additional Target Shares the Company proposes to issue a total of 642,828 Ximen common shares at a deemed issue price of $0.70 per share.

Together with previously announced agreements to acquire 0995237 common shares (please refer to the press releases dated April 8, 2019 and May 2, 2019), these additional agreements bring the total number of Target Shares proposed to be acquired by the Company to 43,261,811 Target Shares, or approximately 80 % of 0995237. The total number of Ximen common shares to be issued in exchange for the 43,261,811 Target Shares is 3,528,769 (or approximately 10.62% of the total issued and outstanding Ximen common shares), at an average issue price of $0.74 per share (the "Consideration Shares"). The principal asset of 0995237 is its option to acquire the Kenville Gold Mine, located west of Nelson, B.C.

The acquisition of the Target Shares remains subject to TSX Venture Exchange acceptance. The Consideration Shares will be subject to a customary 4-month, plus one day, hold period running from the date on which they are issued. The acquisition the Target Shares is expected to complete by May 30, 2019.

On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson,
President, CEO and Director
604 488-3900

Investor Relations:
Mr. William Sattlegger,
604-488-3900
ir@XimenMiningCorp.com

Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in all three of its precious metal projects. Ximen's two gold projects, The Gold Drop Project and Brett Gold Project are located in southern British Columbia. Ximen also owns the Treasure Mountain Silver project adjacent to the past producing Huldra Silver Mine. 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 1XM and WKN with the number as A1W2EG.

This press release contains certain 'forward-looking statements' within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange acceptance of the above-described proposed transaction. 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

SOURCE: Ximen Mining Corp.