Ximen Mining Corp. plans to aggressively explore and develop its portfolio of gold-focused mining properties in southern British Columbia through drilling and advancing its Kenville Gold Mine project. The company aims to generate positive exploration results through its planned drilling programs starting in June and emerge as a diversified growth player in the region. It has assembled one of the largest property portfolios in the area and sees potential to attract attention and emerge as a high-growth gold producer.

1. May 18, 2020May 18, 2020
Report #20Report #20
Gold, Silver, Tellurium, CopperGold, Silver, Tellurium, Copper
in southern British Columbia, Canadain southern British Columbia, Canada
Hooray, Hooray:
Ximen Mining is Back!
On Friday after market close, the
company announced its plans to go
full throttle now – emphasizing in the
headline of its press-release with a
triple repetition: “DRILL, DRILL, DRILL”
After several new properties in
southern British Columbia have been
acquired in the last months, Ximen is
obviously eager to find out by the drill
bit what it has grabbed just before the
gold price started to soar.
According to the press-release, the
exploration season is expected to
begin in June “and we anticipate
initiating drilling activities immediately
on the existing permitted areas”, the
company noted and added, “we see a
very busy season ahead”.
Well, that sounds good!
A strong newsflow can be expected.
As the newly published property map
illustrates on the next page, Ximen
now owns a respectable portfolio with
promising gold assets.
More or less quietly and secretly, it
has become the undisputed “top dog”
in southern British Columbia. Hooray,
Ximen!
It was pretty quiet around Ximen Mining Corp. during the past corona weeks.
Some may have thought, “Houston, we have a problem?” Far from it!
Ximen Mining Corp.
888 Dunsmuir Street – Suite #888
Vancouver, BC, Canada V6C 3K4
Phone: +1 604 488 3900
Email: office@ximenminingcorp.com
www.ximenminingcorp.com
ISIN: CA98420B2003
Shares Issued & Outstanding: 56,145,451
Chart Canada (TSX.V)
Canada Symbol (TSX.V): XIM
Current Price: $0.36 CAD (05/15/2020)
Market Capitalization: $20 Million CAD
Chart Germany (Tradegate)
German Symbol / WKN: A2JBKL / 1XMA
Current Price: €0.23EUR (05/15/2020)
Market Capitalization: €13 Million EUR
Company Details

2. Canada is increasingly in the focus
of private and institutional gold
investors. And with good reason:
Apparantly, the gold price in
Canadian dollars has discovered the
turbocharger and accelerates with
ever higher revs. Looking in the rear-
view mirror, the previous all-time
high from 2011 is getting smaller and
smaller.
While physical gold demand has
surged in recent months, delivery
difficulties have become somehwat
pervasive, and gold mines around the
world have been hit hardest by the
corona lockdown, it has become clear
all the more quickly that indeed there
might be problem, Houston:
Gold is in short supply!
When one also realizes that in recent
years practically no major gold
discoveries were made and that the
existing reserves/resources of gold
mines are increasingly coming to
an end, then it should come as no
surprise that successful gold explorers
and producers may have a golden
future ahead of them.
As such, no wonder that the deal
flow in the gold market is on the rise
noticeably, especially in Canada.
Alone on Monday the 11th May,
5 deals were announced by
Canadian-based gold companies:
• SSR Mining Inc. (TSX: SSRM)
and Alacer Gold Corp. (TSX: ASR)
announced a $4 billion CAD “merger
of equals“ in order to “create a
diversified portfolio of high-quality,
long-life mines across four mining-
friendly jurisdictions“.
• Gold X Mining Corp. (TSX.V: GLDX),
Gran Colombia Gold Corp. (TSX: GCM),
and Guyana Goldfields Inc. (TSX:
GUY) proposed a merger “to createa
high-growth, Latin American-focused
intermediate gold producer“.
• Franco-Nevada Corp. (TSX: FNV)
entered into an agreement with
SolGold PLC (TSX: SOLG) to acquire a
1% net smelter royalty with reference
to all minerals produced from the
Alpala Copper-Gold Project in Ecuador
for $100 million USD.
• Fortuna Silver Mines Inc. (TSX: FVI)
announced a $60 million USD bought-
deal financing with a syndicate of
underwriters led by Scotiabank and
BMO Capital Markets.
• Tethyan Resource Corp. (TSX.V: TETH)
signed a binding agreement to be
acquired by Australian-listed Adriatic
Metals PLC (ASX: ADT) to become a
polymetallic powerhouse in the Balkans.
2 Report #20 | Ximen Mining Corp.
Source: Ximen Mining’s press-release of May 15, 2020

3. Ximen‘s Success Plan:
Exploration+ Production
As indicated earlier, Ximen has
assembled one of the (if not the)
biggest gold portfolios in southern
British Columbia.
With drilling now planned at several
properties, possibly resulting in a
strong newsflow, Ximen not only aims
to attract attention with exploration
successes on several fronts but,
more importantly, to emerge as a
diversified, high-growth gold play in a
mining-friendly jurisdiction.
On March 20, Ximen announced
its 2020 work programs, including
plans to put into production its 100%
owned Kenville Gold Mine Project
near Nelson, BC:
“Now that we have completed this
part of our acquisition plan, we will
move forward at Kenville as planned
to start mining. As early as next week
we’ll have boots on the ground, and
the crew will begin refurbishing the
Kenville mine portal before building
the portal for the new decline. As
soon as this part is finished, we can
start cracking rock. The most exciting
time for Ximen Mining starts right
now!”
Bring it on!
More information: Rockstone Report #19
“Stock Market Crash and Gold Stocks:
The X-Factor Poised to Separate the
Wheat from the Chaff Now“
Cautionary Statement: Ximen Mining Corp.
may decide to advance its projects into
production without first establishing
mineral resources supported by an
independent technical report or completing
a feasibility study. A production decision
without the benefit of a technical report
independently establishing mineral
resources or reserves and any feasibility
study demonstrating economic and
technical viability creates increased
uncertainty and heightens economic
and technical risks of failure. Historically,
such projects have a much higher risk of
economic or technical failure.
3 Report #20 | Ximen Mining Corp.
Updated chart: http://schrts.co/vbhdYEkn

4. Disclaimer and Information on Forward
Looking Statements
Rockstone Research, Zimtu Capital Corp.
(“Zimtu“) and Ximen Mining Corp. (“Ximen“)
caution investors that any forward-looking
information provided herein is not a guar-
antee of future results or performance, and
that actual results may differ materially from
those in forward-looking information as a re-
sult of various factors. The reader is referred
to the Ximen´s public filings for a more com-
plete discussion of such risk factors and their
potential effects which may be accessed
through Ximen‘s documents filed on SEDAR
at www.sedar.com. All statements in this re-
port, other than statements of historical fact,
should be considered forward-looking sta-
tements. Statements in this report that are
forward looking include that Ximen will go
full throttle now, i.e. to drill, drill, and drill
its newly acquired properties as announced
last Friday; that the gold price will continue
to rise; that Ximen‘s exploration season is
expected to begin in June and the company
anticipates initiating drilling activities im-
mediately on the existing permitted areas,
and that we see a very busy season ahead;
that a strong newsflow can be expected; that
Canada is increasingly in the focus of priva-
te and institutional gold investors; that the
gold price in Canadian dollars will continue
its upward trend; that physical gold demand
will continue to surge, that there might be
a problem, i.e. gold being in short supply;
that the existing reserves/resources of gold
mines are increasingly coming to an end and
that successful gold explorers and producers
may have a golden future ahead of them;
that the deal flow in the gold market is on
the rise, especially in Canada; that Ximen
plans to explore and go into production; that
with drilling now planned at several proper-
ties, possibly resulting in a strong newsflow,
Ximen not only aims to attract attention with
exploration successes on several fronts but,
more importantly, to emerge as a diversified,
high-growth gold play in a mining-friend-
ly jurisdiction; that Ximen plans to put into
production its 100% owned Kenville Gold
Mine Project near Nelson, BC; that Ximen will
move forward at Kenville as planned to start
mining; that as early as next week Ximen will
have boots on the ground, and the crew will
begin refurbishing the Kenville mine por-
tal before building the portal for the new
decline, and that as soon as this part is finis-
hed, Ximen can start cracking rock; that the
most exciting time for Ximen Mining starts
right now; that Ximen will bring it on. Such
forward-looking statements are subject to a
variety of risks and uncertainties and other
factors that could cause actual events or
results to differ materially from those pro-
jected in the forward-looking information.
Risks that could change or prevent these
statements from coming to fruition include
that there will be no exchange or regulato-
ry approval for the announced acquisitions;
that acquisitions will not be completed; that
Ximen‘s President and CEO may not remain
as CEO of Golden Dawn Minerals Inc. and
therefore will not be in a position to secu-
re potential milling and processing oppor-
tunities; that uneconomic mineralization
will be encountered with drilling; that the
targeted prospects can not be reached; that
drilling will not be completed; that uneco-
nomic mineralization will be encountered
with drilling, if any at all; that Ximen and/or
its partner will not find adequate financing
to proceed with its plans; changing costs for
exploration and other matters; increased ca-
pital costs; interpretations based on current
data that may change with more detailed
information; potential process methods and
mineral recoveries assumption based on li-
mited test work and by comparison to what
are considered analogous deposits may pro-
ve with further test work not to be compa-
rable; gold mineralization may be much less
than anticipated or targeted;intended me-
thods and planned procedures may not be
feasible because of cost or other reasons;
the availability of labour, equipment and
markets for the products produced; world
and local prices for metals and minerals; that
advisory terms may be changed or no posi-
tive results from the advisory are reached;
and even if there are considerable resources
and assets on any of the mentioned compa-
nies‘ properties or on those under control of
Ximen, these may not be minable or opera-
tional profitably. The writer assumes no res-
ponsibility to update or revise such informa-
tion to reflect new events or circumstances,
except as required by law.
Disclosure of Interest and Advisory
Cautions
Nothing in this report should be construed
as a solicitation to buy or sell any securities
mentioned. Rockstone, its owners and the
author of this report are not registered
broker-dealers or financial advisors. Be-
fore investing in any securities, you should
consult with your financial advisor and a
registered broker-dealer. Never make an
investment based solely on what you read in
an online or printed report, including Rock-
stone’s report, especially if the investment
involves a small, thinly-traded company that
isn’t well known. The author of this report,
Stephan Bogner, is not a registered financial
advisor and is paid by Zimtu Capital Corp.
(“Zimtu”), a TSX Venture Exchange listed
investment company. Part of the author’s
responsibilities at Zimtu is to research and
report on companies in which Zimtu has
an investment or is being paid to conduct
shareholder communications. So while the
author of this report may not be paid direct-
ly by Ximen, the author’s employer Zimtu
will benefit from appreciation of Ximen’s
stock price. In addition, the author holds
equity of Ximen Mining Corp., and Zimtu
Capital Corp., and thus would also benefit
from volume and price appreciation of their
stocks. Ximen pays Zimtu to provide this re-
port and other investor awareness services.
Overall, multiple conflicts of interests exist.
Therefore, the information provided should
not be construed as a financial analysis but
as an advertisement. The author’s views and
opinions regarding the companies featured
in reports are his own views and are based
on information that he has researched
independently and has received, which the
author assumes to be reliable but may not
be. Rockstone and the author of this report
do not guarantee the accuracy, complete-
ness, or usefulness of any content of this
report, nor its fitness for any particular pur-
pose. Lastly, the author does not guarantee
that any of the companies mentioned will
perform as expected, and any comparisons
made to other companies may not be valid
or come into effect. Please read the entire
Disclaimer carefully. If you do not agree to
all of the Disclaimer, do not access this web-
site or any of its pages including this report
in form of a PDF. By using this website and/
or report, and whether or not you actually
read the Disclaimer, you are deemed to
have accepted it. Information provided is for
entertainment and general in nature. Data,
tables, figures and pictures, if not labeled or
hyperlinked otherwise, have been obtained
from Stockwatch.com, Comdirect.de, Ximen
Mining Corp., Stockcharts.com and the
public domain. The cover picture (amended)
has been obtained and licenced from Pavel
Ignatov.
Author Profile & Contact
Stephan Bogner (Dipl. Kfm., FH)
Rockstone Research
8260 Stein am Rhein, Switzerland
Phone: +41 44 5862323
Email: sb@rockstone-research.com
Stephan Bogner studied
Economics, with spe-
cialization in Finance &
Asset Management, Pro-
duction & Operations,
and Entrepreneurship &
International Law, at the
International School of Management (Dort-
mund, Germany), the European Business
School (London, UK) and the University of
Queensland (Brisbane, Australia). Under
Prof. Dr. Hans J. Bocker, Stephan completed
his diploma thesis (“Gold In A Macroeco-
nomic Context With Special Consideration
Of The Price Formation Process”) in 2002. A
year later, he marketed and translated into
German Ferdinand Lips‘ bestseller “Gold
Wars“, After working in Dubai’s commodity
markets for 5 years, he now lives in Switzer-
land and is the CEO of Elementum Interna-
tional AG specialized in duty-free storage
of gold and silver bullion in a high-security
vaulting facility within the St. Gotthard
Mountain in central Switzerland.
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4 Report #20 | Ximen Mining Corp.