Vancouver, British Columbia--(Newsfile Corp. - February 16, 2018) - Ximen Mining Corp. (TSXV: XIM) (FSE: 1XM) (OTC Pink: XXMMF) has announced a non-brokered private placement. The company intends to raise gross proceeds of up to $437,500 through the issuance of up to 3.5 million units at $0.125 per unit, with each unit consisting of 1 share and 1 warrant, with each warrant exercisable at $0.18 for 18 months.
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In addition to accredited investors, the offering is open to current shareholders. The company is also relying on BC Securities Commission Instrument 45-535 allowing non-accredited investors to purchase the private placement provided they have obtained advice from a registered investment dealer.
The funds will be used for exploration work on the company's British Columbia mineral properties and general working capital.
The company 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.
The company's current focus is the 20,000 hectare Brett Gold Project, located about 30 kilometres west of Vernon and 70 kilometres southeast of Kamloops. Extensive exploration has been conducted on the Brett Property since the 1980s including multiple drilling programs, including drilling programs by Ximen during 2014 and 2016. Multiple drill intersections exceeding 1.0 ounce per ton gold have been reported.
During the mid-1990s, contractors completed 360 metres of underground development at the Main Shear Zone, with approximately 1,400 tonnes of mineralized muck being stockpiled on a dump. The estimated grade of this material was reported to average 4 to 5 grams per tonne gold.
For more information, please visit the company's website, www.ximenminingcorp.com, contact Christopher Anderson, President and CEO, at 604-488-3900 or email office@ximenminingcorp.com.
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