2018 Drilling and Trenching for Gold Drop Project Completed - Ximen Mining Corp Exploration Update
VANCOUVER, December 11, 2018 - Ximen Mining Corp. (TSX-V: XIM) (OTCQB: XXMMF) (the "Company" or "Ximen") is pleased to provide an is pleased to provide an update on the Gold Drop Property which is currently under option agreement to GGX Gold Corp. (TSX-V: GGX) and located near Greenwood in southern British Columbia. To Date Ximen has received the first two of four option payments, which consists of Stock and Cash, from GGX Gold Corp. (See News Release of July 27, 2016). Once all the payments and work commitments have been completed, Ximen will have a 2.5% NSR and the right for nine months thereafter to elect to form a joint venture with the GGX Gold by paying to GGX Gold the amount of money equal to 30 per cent of the total amount expended on the property by the GGX Gold. If Ximen exercises this joint venture right, Ximen and GGX Gold will enter into a joint venture for the exploration and development of the property.
GGX Gold has announced results of from 2018 Trenching and Sampling program on the COD Vein North Target Area (GGX News Release of November 20, 2018) and the completion of the 2018 Fall diamond drilling program on the COD Vein southern extension (GGX News Release of November 27, 2018).
Highlights from the trenching and sampling program across the COD Vein North Target, which has yet to be "drill tested" includes a grab sample of 15.45 g/t Au, 159 g/t Ag, and 114.5 g/t tellurium and a chip sample across 0.4m of 21.7 g/t Au and 216 g/t Ag and 149 g/t tellurium. Drilling of this area is fully permitted and is scheduled to commence in 2019.
The 2018 Fall drilling program consisted of 11 diamond drill holes (COD18-61-COD18-71) targeting the southern extension of the COD Vein mineralization within 25 meters of previously drilled holes COD18-45 and COD18-46. These holes were drilled at 45 and 50 degree dips to the west from the same site and intersected high grade gold as highlighted below:
- COD18-45 intersected of 50.1 grams per tonne (g/t) gold and 375 g/t silver over 2.05 meter core length including 167.5 g/t gold, 1,370 g/t silver and >500 g/t tellurium over 0.46 meter core length (GGX News Release of August 15, 2018).
- COD18-46 intersected 54.9 g/t gold and 379 g/t silver over a 1.47 meter core length, including 223 g/t gold, 1,535 g/t silver and greater than 500 g/t tellurium over a 0.30 meter core length (GGX News Release of August 22, 2018).
Intervals of quartz veining and / or mineralized host rock from the 2018 Fall diamond drilling program are outlined in the table below. Since true widths cannot be accurately determined from the information available the core lengths (meters) are reported.
| Hole ID | Interval length (m) | Description | |
| COD18-61 | 1.38 | Quartz vein intercept | |
| COD18-63 | 3.46 | 3.46m mineralized zone including 1.57m quartz vein intercept | |
| COD18-64 | 3 | 3 m mineralized granodiorite interval | |
| COD18-65 | 2.43 | 2.43m mineralized granodiorite interval | |
| COD18-66 | 1.84 | 1.84m mineralized zone including a 0.9 m quartz vein intercept | |
| COD18-67 | 8.51 | 8.51m mineralized interval including a 7.32 m quartz vein intercept | |
| COD18-68 | 4.64 | 4.64 m mineralized interval including 1.6m of quartz veining | |
| COD18-69 | 9.65 | 9.65m interval of quartz separated by mineralized wall rock | |
| COD18-70 | 6.9 | 6.9 m quartz vein intercept (with 1 m core loss) | |
| COD18-71 | 12.04 | 12.04m mineralized intercept including 2.2m of quartz veining |
The drill core from these eleven drill holes has been split and securely packaged and shipped to ALS Canada Ltd. in Vancouver, BC. There the core will be analyzed for gold by Fire Assay and for 48 elements by Four Acid and ICP-MS. Some samples are being selected for additional Screen Metallic analysis. Quality control (QC) samples are being inserted at regular intervals.
Neil Froc, P.Eng., a Qualified Person as defined by NI 43-101, is responsible for 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
Ximen Mining Corp. 604 488-3900
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in all three of its precious metal projects located in southern BC. Ximen's two Gold projects are 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. The option partners are making annual staged cash and stocks payments as well as funding the development of these projects.
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 1XMA and WKN with the number as A2JBKL
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.
Ximen Mining Corp.
888 Dunsmuir Street - Suite 888,
Vancouver, B.C., V6C 3K4
SOURCE: Ximen Mining Corp.
