XIMEN Provides Summary Compilation of Its Comprehensive 2014 Exploration Program at Its Brett Gold Property
Vancouver, British Columbia--(Newsfile Corp. - April 7, 2015) - Ximen Mining Corp. (TSXV: XIM) (the "Company" or "Ximen") is pleased to provide a summary compilation of its comprehensive exploration program conducted in 2014 at its Brett gold property in south central British Columbia. The technical information contained in this press release has been previously disclosed, but the Company felt that both interested investors and others watching the company should know all that was done on their behalf since the Brett property was acquired in late 2013. The following highlights the most important events in Brett's history of discovery.
Historical Context The Brett gold property was discovered in 1983 when prospectors located visible gold in a quartz vein. Through a series of exploration programs by various companies, a total of 15,600 metres of diamond drilling in 131 holes, almost 3,000 metres in 53 reverse circulation holes, 459 m of underground development, surface trenching and road building were completed on the property. Additionally, geochemical surveys consisting of 4,659 soil samples over 15 square kilometers were completed, many of which returned anomalous results. The majority of this work was concentrated in a small portion of the property, along what is known as the Main shear zoneRW vein.
Exploration was stopped in late 1996 and the property was tied up in litigation for several years. No work has been conducted on the property in the 10 years prior to Ximen acquiring the exploration rights.
Significant gold intercepts from the earlier diamond drilling effort include the following results, reported in a 2004 NI 43-101 compliant technical report by a previous operator:
| Hole 04-02 | 10.1 m | 11.7 g/t Au | 0.34 opt Au |
| Including | 3.1 m | 34.0 g/t Au | 0.99 opt Au |
| Hole 04-12 | 1.3 m | 168.3 g/t Au | 4.91 opt Au |
"In 1983, I saw the first gold samples that came from Brett and knew then that it could be major exploration play. After joining Ximen's technical advisory board in 2014 and seeing the robust results of all the exploration since its discovery, I realized that Ximen had something special going on at Brett", said Steve Craig, Technical Advisor for Ximen. "The property has many of the epithermal characteristics that are found in a number of Nevada's volcanic-hosted gold districts where I have spent most of my career."
Ximen Acquires Brett. Ximen obtained an option to purchase the Brett property in December 2013. Work completed during the first half of 2014 included the review and compilation of all historic data, including all diamond drilling, RC drilling, two underground bulk samples, assays along the 459 m drift, and hundreds of grid soil samples. This work allowed Ximen geologists to focus their field work in areas that would support new geophysical surveys, fill-in sampling and mapping.
During the second half of 2014, Ximen geologists completed magnetic and IP surveys, more soil sampling, auger sampling, vegetation sampling and rock chip sampling. From this and earlier compilation work, a 3D modeling effort was completed, which focused on all known drilling, geological and geochemical data. This work provided the geologists a means for effectively developing drilling strategies for the proposed 2014 diamond drill program at Brett. All of the data is now compiled into GIS format, with 3D modelling completed in Leapfrog.
Land Acquisition. The company signed a second option agreement in July with North Bay Resources to acquire the adjacent and important Bouleau property, which held significant gold anomalies. The option allowed the Company to acquire a 100% interest in 2,045 contiguous hectares with no NSR or work commitments. This acquisition, plus additional staking by the company, brings the total area controlled by Ximen at the Brett to 210 square kilometers (81 sq.mi.).
Geophysical Surveys. In July 2014, the Company completed 70 line kilometers of ground magnetic and VLF-EM geophysical surveys. This work identified three prominent, previously unknown, northeast-striking structural trends, two of which are in the area of the Main Shear Zone. The magnetic survey also outlined a strong mag-low anomaly in an area of the property that has little previous exploration and measures at a minimum of 1.1 sq km. The area is mostly covered under glacial till with minimal outcrop exposures. Similar, but smaller magnetic low anomalies were also found at the Main Zone and west of the Main Zone associated with known gold-bearing epithermal veins and associated magnetite-destructive alteration.
The company further completed 20 line kilometers of an induced polarization (IP) in the same areas that the ground magnetic survey was done. This type of survey applies electrical current along a line to the subsurface rocks to identify areas with sulfide mineralization, usually pyrite. Pyrite forms a halo to vein structures and is present in areas that have undergone magnetite destructive alteration. Higher concentrations of pyrite help identify drill targets. The overall results were encouraging and further supported the proposed drilling program.
Drilling Program The core drilling program was initiated in mid-September and completed by mid-November. A total of 13 holes for 2977 m, were drilled from 9 sites over an area measuring approximately 1 km east-west by 850 m north-south, and over an elevation range of 470 m. Drilling successfully tested high-grade vein style targets and lower grade bulk tonnage gold targets. Epithermal alteration was encountered in drilling throughout this large area. A total of 1810 drill core samples were collected and submitted to ActLabs in Kamloops for preparation and analysis.
Highlights include:
| Hole | From | To | Interval | Au | Ag | |
| metres | metres | metres | g/t | g/t | ||
| B14-01 | 43.00 | 50.20 | 7.20 | 2.85 | 7.73 | |
| including | 47.00 | 49.20 | 2.20 | 7.31 | 20.09 | Main Zone |
| 124.00 | 135.80 | 11.80 | 0.57 | 2.27 | ||
| 146.95 | 147.85 | 0.90 | 34.18 | 6.66 | 490 Gold Zone | |
| B14-02 | 112.20 | 118.30 | 6.10 | 0.25 | 0.85 | |
| 162.60 | 167.30 | 4.70 | 0.54 | 0.65 | 490 Gold Zone | |
| 202.00 | 222.50 | 22.00 | 0.43 | 1.33 | End of hole; Open mineralization | |
| B14-03 | 113.60 | 117.60 | 4.00 | 0.32 | 1.01 | |
| B14-04 | 21.70 | 33.80 | 12.10 | 0.46 | 2.24 | |
| 47.30 | 78.30 | 31.00 | 1.77 | 2.13 | ||
| including | 54.90 | 56.20 | 1.30 | 24.70 | 6.57 | Main Zone |
| 128.90 | 133.60 | 4.70 | 1.40 | 2.72 | ||
| B14-05 | 51.00 | 84.00 | 33.00 | 0.82 | 1.27 | |
| including | 55.80 | 56.30 | 0.50 | 12.10 | 6.00 | Main Zone |
| 141.45 | 158.00 | 16.55 | 1.88 | 2.79 | ||
| including | 155.00 | 156.00 | 1.00 | 20.50 | 5.06 | 490 Gold Zone |
| B14-06 | 22.20 | 27.20 | 5.00 | 0.60 | 0.85 | |
| 79.00 | 85.00 | 6.00 | 0.30 | 0.94 | ||
| B14-07 | 322.00 | 324.00 | 4.00 | 0.49 | 1.28 | End of hole; Open mineralization |
| B14-11 | 189.65 | 190.15 | 0.50 | 1.03 | 34.20 | Gossan Zone |
| B14-13 | 49.00 | 55.00 | 6.00 | 0.42 | 1.89 | |
| 174.50 | 179.50 | 5.00 | 5.31 | 2.50 | ||
| including | 176.00 | 177.50 | 1.50 | 16.70 | 6.56 | New vein discovery |
Notes: All results exceeding a minimum of 0.25 g/t Au over a minimum 4 m interval are reported in the above table. High grade gold values within these intervals are noted. Also reported are any samples that returned greater than 1 g/t Au which are not part of larger intervals meeting the cut-off threshold.
Christopher Anderson, CEO of Ximen, commented by saying "The 2014 exploration program returned excellent results from this newly emerging gold district. Our drilling demonstrated that the property contains a very large and strong epithermal system that has district-scale potential for both high-grade veins and low-grade, bulk tonnage gold mineralization. Our 2015 exploration program will continue in those areas that have potential to return success."
Ximen Mining Corp. has granted 1,800,000 stock options at an exercise price of 12 cents effective today. 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.
Linda Caron, M.Sc., P.Eng. is the Qualified Person under NI 43-101 who supervised the 2014 program, and who has reviewed and approved the technical content of this news release.
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in its two projects, Gold Drop Project and Brett Gold Project located in southern British Columbia. 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
On behalf of the Board of Directors, "Christopher R. Anderson"
Christopher R. Anderson, President, CEO and Director Ximen Mining Corp.
For further information contact :
Renmark Financial Communications Inc. Barry Mire:
bmire@renmarkfinancial.com
Robert Thaemlitz:
rthaemlitz@renmarkfinancial.com
Tel.: (416) 644-2020 or (514) 939-3989 www.renmarkfinancial.com
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. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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.
