At the Brett property near Vernon, BC, a permit application will be filed this month to extend the historic mine drift along the trend of the Main Zone and conduct underground drilling.
At the Kenville Gold Mine near Nelson, BC (see news release dated April 8, 2019), a detailed compilation of exploration and historic mining information is planned by Ximen.
The Company is also initiating field work at the recently acquired Providence property of 12,900 hectares near Greenwood, BC (see news release dated April 5, 2019). a view to generate drilling targets.
The Company is also pleased to announce that it has closed its previously announced non-brokered private placement of 675,000 flow through shares at a price of $0.60 cents per share for gross proceeds of $405,000.
The net proceeds from the Offering will be used by the Company for exploration expenses on the Company?s British Columbia mineral properties.
All securities issued in connection with the Offering will be subject to a hold period expiring August 12, 2019
The Company also announces that it has granted 200,000 options at an exercise price of $0.85 to directors, officers, employees and consultants. The options are exercisable for five years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the Company. The options are subject to regulatory approval.
Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.
About 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.
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the completion of a proposed Offering and the use of the Offering proceeds to further explore "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 Company is not satisfied with its further due diligence investigations and possibility that the TSX Venture Exchange may not accept the proposed transaction. 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.
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