Ximen Mining Corp owns the Treasure Mountain Silver & Base Metal Property in southern British Columbia. The property shows potential for silver, gold, zinc, copper and other minerals based on past work. It is located near operating mines and other mineral properties. Ximen partnered with New Destiny Mining Corp, who is conducting exploration work on the property and has options to earn an interest. Recent sampling at the property returned high grades of silver, zinc, gold and other metals. The location and past work indicate the property warrants further exploration.
Location is Key for Ximen‘s Treasure Mountain Project in Southern British Columbia
1. February 1, 2019
Report #6
Gold, Silver and Tellurium in
British Columbia, Canada
Location is Key for Ximen‘s Treasure Mountain
Project in Southern British Columbia
Company Details
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
Shares Issued & Outstanding: 30,931,025
Canadian Symbol (TSX.V): XIM
Current Price: $0.78 CAD (01/31/2019)
Market Capitalization: $24 Million CAD
German Symbol / WKN: 1XMA / A2JBKL
Current Price: €0.501 EUR (01/31/2019)
Market Capitalization: €16 Million EUR
Chart Canada (TSX.V)
Chart Germany (Frankfurt)
Since initiating coverage on Ximen
Mining Corp. last December, its
share price has increased by 140%
backed by a strong newsflow and
appreciating gold-silver prices.
With a current market capitalization
of $24 million CAD, the company’s
shares gained 13% in Canada
yesterday following news about its
Treasure Mountain Silver & Base
Metal Property located in southern
British Columbia, Canada.
Its option partner has received the
second batch of assays from surface rock
grab sampling in the southeastern part
of the property, including“Up to 1.45%
zinc, 122 g/t silver, 0.87 g/t gold, 57 g/t
tellurium and 12.3 g/t indium”.
As previously announced, the first batch
of assays from grab sampling in the east-
northeastern part included“11.3 & 8.81
grams per tonne (g/t) gold“.
There are several reasons why the
Treasure Mountain Silver & Base Metal
Property (approximately 9,500 hectares)
is attractive, among others:
A) Location: A 3 hour drive from
Vancouver and a few hours drive from
Ximen’s other projects (Brett and Gold
Drop) in southern British Columbia.
B) Location: Within the Intermontane
Tectonic Belt, which hosts numerous por-
phyry copper-(gold) deposits, including
the active Copper Mountain Mine from
Copper Mountain Mining Corp. (current
market capitalization: $164 million CAD).
C) Location: Approximately 37 km
southwest of Westhaven Ventures Inc.‘s
Shovelnose Gold Property, where 8.95 g/t
gold and 65.47 g/t silver over 46.2 m core
length was drilled recently. Westhaven
enjoys a current market capitalization of
$73 million CAD.
2. D) Location: Partially surrounding
Nicola Mining Inc.‘s historic Treasure
Mountain Silver-Lead-Zinc Mine hosting
polymetallic veins. For a short period
in 2011-2012 (when precious and
base metals prices entered into a bear
market), Nicola did some stope mining
and estimates to have stockpiled 8,000
tonnes of material. The average grades,
to date, of Nicola‘s 43 samples over the
mined width are 911 g/t silver, 5.62%
zinc, 3.35% manganese and 6.75% lead.
Nicola also states on its website:
“Currently, no value has been assigned
to stockpiled material as the material
requires further processing at the
Company’s Mill facility, once complete,
prior to being shipped to a smelter for
payment. There are currently no other
identified options for processing the
material prior to shipment to a smelter.“
According to the B.C. Ministry of Energy
and Mines MINFILE database, Ximen’s
100% owned Treasure Mountain Silver
& Base Metal Property hosts 7 known
gold, silver, lead, zinc and/or copper
occurrences in various parts of the
property. These include gold-quartz
vein, polymetallic vein and porphyry-
type occurrences. Some of these
mineral occurrences have associated
historic underground workings.
Ximen‘s option partner, New Destiny
Mining Corp. (TSX.V: NED), may earn in a
100% interest in the property by making
certain staged cash and share payments
of common shares in NED to Ximen
over a 4 year period equal to a total of
$400,000 in cash or stock payments.
NED will also be required to spend
$750,000 in exploration over the term 4
year period (ending in late 2020).
Under terms of the agreement for each
year’s payment, NED will make the
decision as to pay Ximen either cash or
equivalent value stock calculated by the
60-day volume weighted average price
of common shares, with a minimum of
$10,000 cash paid out per payment.
Ximen will retain a 2.5% NSR (“Net
Smelter Return“ Royalty), whereas NED
may buy down 1% of the NSR by paying
$1 million leaving Ximen with 1.5%.
2 Report #6 | Ximen Mining Corp.
SeeXimen’sJanuary31,2019NewsReleaseforQualifiedPerson’sreviewoftechnicalinformation.
3. 3
Once NED has earned 100% interest in
the property, Ximen will have a right
for 9 months thereafter to elect to form
a joint venture with NED by paying to
NED the amount of money equal to
30% of the total amount expended on
the property by NED. If Ximen exercises
this joint venture right, Ximen and
NED will enter into a joint venture for
the exploration and development of
the property. In other words: NED is
doing all the work, financing/dilution
(i.e. taking the risk), and if the project
becomes a success, it is Ximen who then
has the decision power to get back 30%
interest in the property by paying 30% of
the exploration costs which NED spent.
A similar agreement has been made
between Ximen and GGX Gold Corp. for
its Gold Drop Project.
According to Ximen‘s news, some
highlights of reported historic work
at the Treasure Mountain Silver &
Base Metal Property include (as per
British Columbia MINFILE and Mineral
Assessment Report Records):
•“Rainy (Cedarflat) occurrence (north-
central region): 2011 grab samples from
rock piles near an adit were reported to
return 6.5, 7.4 and 11.9% zinc.
• Spokane (northeast region near Jim
Kelly creek): A sample reported in 1913
of 4.11 g/t gold over 0.9 meters across
the zone.
• John Bull (northeast region near Jim
Kelly creek): A channel sample reported
in 1937 of 9.6 g/t gold over 0.18 meters
across a quartz vein.
• Railroad creek area copper showing
(east region north of Railroad creek): Two
2011 grab samples from rock piles near
adits were reported to exceed 1% copper
and up to 76.4 g/t silver.
• Rio Grande (southeast region): A 1.5
meter chip sample across a shear zone
was reported in 1929 to return 1.2% zinc.“
Cautionary Note: Readers are warned that
historical records referred to above have
been examined but not verified by a Quali-
fied Person. Further work is required to ve-
rify that historical records referred to above
are accurate. The historical information is
relevant only as an indication that some
mineralization occurs on the property, and
no resources, reserve or estimate is inferred.
A qualified person has not done sufficient
work to classify the historical information
as current mineral resources or mineral
reserves; and neither Rockstone Research,
Ximen Mining Corp., New Destiny Mining
Corp. nor Zimtu Capital Corp. is treating
the historical information as current mine-
ral resources or mineral reserves.
Report #6 | Ximen Mining Corp.
4. 4
Previous Coverage
Report #5:“The Unprecedented Gold-
Silver-Tellurium Strikes in the Historic
Greenwood Mining Camp Continue“
Report #4:“Record-Breaking Gold Hit in
Southern British Columbia“
Report #3:“Strong drill results and
appreciating precious metals prices may
herald golden times for Ximen“
Report #2:“Ximen reveals striking drill
core observations ahead of assays“
Report #1:“Hunting for Multi-Million
Ounces in British Columbia“
Report #6 | Ximen Mining Corp.
Link to updated chart (15 min. delayed): http://schrts.co/gmujwcru
5. 5
Disclaimer and Information on
Forward Looking Statements
Rockstone Research, Zimtu Capital
Corp. and Ximen Mining Corp. (“Ximen“)
caution investors that any forward-loo-
king information provided herein is not
a guarantee of future results or perfor-
mance, and that actual results may differ
materially from those in forward-looking
information as a result of various factors.
The reader is referred to the Ximen´s pub-
lic filings for a more complete discussion
of such risk factors and their potential
effects which may be accessed through
the Ximen´s documents filed on SEDAR
at www.sedar.com. All statements in this
report, other than statements of historical
fact, should be considered forward-look-
ing statements. Statements in this report
that are forward looking include that
location is key or Ximen‘s Treasure Moun-
tain Project in British Columbia; that the
Treasure Mountain Silver Property is at-
tractive for several reasons, among others
its location; and that there are positive
results of mineralization on the property.
Readers should not rely on these forward
looking statements. These forward-look-
ing 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 projected
in the forward-looking information. Risks
that could change or prevent these sta-
tements from coming to fruition include
that exploration and development may
not be successful; that expected drill
results could turn out marginal or bad,
or that only barren or low-grade mine-
ralization will be reported; that good
reported grades may not be prevalent
throughout the property; that minab-
le resources not far from the Treasure
Mountain Property do not indicate that
minable resources will be found on that
property; that Ximen or its partners may
not raise sufficient funds to carry out their
plans; that Ximen may not receive any
more cash and/or share payments from
its option partners; that Ximen‘s option
partners may not continue exploration
or related work commitments; changing
costs for exploration and other matters;
increased capital costs; interpretations
based on current data that may change
with more detailed information; potential
process methods and mineral recoveries
assumption based on limited test work
and by comparison to what are conside-
red analogous deposits may prove with
further test work not to be comparable;
the availability of labour, equipment and
markets for the products produced; world
and local prices for metals and minerals;
that joint venture terms may be changed
or no agreement is reached; and even if
there are considerable resources on the
company’s properties, they may not be
minable profitably. The writer assumes
no responsibility to update or revise such
information to reflect new events or cir-
cumstances, except as required by law.
Disclosure of Interest and
Advisory Cautions
Nothing in this report should be con-
strued 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. Before investing in any secur-
ities, you should consult with your finan-
cial advisor and a registered broker-deal-
er. Never make an investment based
solely on what you read in an online or
printed report, including Rockstone’s re-
port, especially if the investment involves
a small, thinly-traded company that isn’t
well known. The author of this report,
Stephan Bogner, 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 com-
munications. So while the author of this
report may not be paid directly by Ximen
Mining Corp., the author’s employer
Zimtu will benefit from appreciation
of Ximen’s stock price. In addition, the
author also holds equity of Ximen Mining
Corp., as well as Zimtu Capital Corp., and
thus would also benefit from volume
and price appreciation of their stocks
(the author currently does not hold any
equity positions or other kind of interests
in New Destiny Mining Corp. or any other
mentioned company). Ximen has paid
Zimtu to provide this report and other
investor awareness services. Overall, mul-
tiple 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. Rockstone and the author of
this report do not guarantee the accur-
acy, completeness, or usefulness of any
content of this report, nor its fitness
for any particular purpose. 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 website 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. Informa-
tion provided is for entertainment and
general in nature. Data, tables, figures
and pictures, if not labeled or hyper-
linked otherwise, have been obtained
from Stockwatch.com, Comdirect.de,
New Destiny Mining Corp., Ximen Mining
Corp. and in the public domain of the
other mentioned companies.
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 specialization
in Finance & Asset
Management,
Production &
Operations, and
Entrepreneurship
& International
Law, at the
International School
of Management
(Dortmund, 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
Macroeconomic 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 Switzerland and is the
CEO of Elementum International 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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Report #6 | Ximen Mining Corp.