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Nelson BC
Ximen Mining Corp. (TSXV: XIM,OTC:XXMMF) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") is pleased to provide the following update on its Kenville mine project, located in the historic Nelson mining camp in southeastern B.C.
Design cross section of decline tunnel
(Ground Support Standards, Kenville Mine, P.B. Hughes & Associates, 2014)
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The Company reports that detailed design work is underway for the planned underground mine development, and that the hydrogeologic, geotechnical and ground support design components have already been completed. A consultant engineer is now scheduled for a site examination early June (next week) to assess existing building foundations.
"Kenville continues to move forward in a very constructive way. The completion of key hydrogeological, geotechnical and ground-support design components represents meaningful progress toward preparing the project for the next stage of underground development. With the upcoming site examination of the existing building foundations, we are continuing to de-risk the pathway toward a future construction start for the new decline and the potential reopening of one of British Columbia's historic gold mines," states Mr. Anderson, President, Ximen Mining Corp.
This work forms part of the continuing effort the Company is making to push toward a construction start for the new underground decline, which will ultimately access multiple gold-bearing quartz veins that were intersected in surface drill holes surrounding the past producing Kenville gold mine.
Map of Kenville showing new decline, old mine workings and significant drill intercepts
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Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, reviewed and 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
604 488-3900
Investor Relations | 604-488-3900 | ir@XimenMiningCorp.com
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About Ximen Mining Corp.
Ximen Mining Corp. acquired the Kenville Gold mine near Nelson British Columbia including all surface and underground property and mineral rights, buildings and equipment. The company also owns 100% interest in three of its precious metal projects located in southern BC., including 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 an option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project.
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 A3E2DA.
This press release contains certain "forward-looking statements" within the meaning of Canadian securities 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.sedarplus.ca 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299317
