Ximen Mining Corp. Provides Kenville Site Update and Targets Early November Portal-Face Start
Site preparations have advanced, but explosives authorization and safety protocols remain prerequisites to starting portal construction.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Ximen Mining (XXMMF) is targeting the start of portal-face work at its Kenville Gold Mine in early November 2026. The target moves from the previously announced end of October because final site preparation and permit preconditions remain outstanding, including explosives Storage and Use authorization. Construction of the mine entrance will begin once explosives and overall site-safety protocols are established.
Site infrastructure and power are in place, primary equipment is on site, the portal survey plan is complete, and a startup crew has been assembled. Work is planned under the existing Mines Act authorization. Ximen expects requirements for portal construction, followed by the decline, to be in place within the next two weeks. Discussions on non-dilutive or development funding continue, but no definitive financing agreement has been entered into; the company expects an update shortly.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Minor pointKenville site infrastructure and power are in place, with primary equipment and critical spare parts on site.
- Minor pointThe portal survey plan is complete ahead of planned mine-entrance and decline work.
- Minor pointA startup crew has been assembled, including surface and underground blasters and a safety manager.
- Minor point. Forward-looking: it has not happened yet and may not happen.Ximen plans additional crew members as underground development advances, subject to operating needs.
Negative
- Moderate pointExplosives Storage and Use authorization and explosives and site-safety protocols remain prerequisites to portal construction.
- Moderate pointFunding discussions remain without a definitive agreement for non-dilutive or development financing.
- Minor point. Forward-looking: it has not happened yet and may not happen.The targeted portal-work start moved from end of October to early November 2026 for remaining preparations and permit preconditions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Nelson BC
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2026) - Ximen Mining Corp. (TSXV: XIM) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") provides an update on site readiness at the Kenville Gold Mine near Nelson, British Columbia, as the Company targets commencement of portal-face work in early November 2026.
Arrival of Mag for storage of explosives on site — Kenville Mine Project
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Site Infrastructure and Equipment
Site buildings and supporting infrastructure are in place at Kenville, including office and change facilities, shop capacity, and related surface works. Power is connected to site. Primary mining and surface equipment for the planned start of portal-face work is on site, with critical spare parts held for key items. Certain backup equipment and support items remain off-site and are available to be mobilized as needed.
Survey and Portal Preparations
The survey plan for facing of the new portal has been completed. The Company is preparing to square the portal face and advance portal and decline work under its existing Mines Act authorization.
Loader with new tires, all tuned up and working on site — Kenville Mine Project
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Crew
A startup crew has been assembled for the planned portal-face work, including:
- Class 1 - urban and close proximity blaster for surface blasting / portal square up
- Class 2 - underground blaster for all underground development
- An experienced miner on site; and
- A level 3 first aid certified person who will also take the role of occupational health and safety manager.
Additional crew members are planned to join as underground development advances, subject to operating needs.
On site 60-foot Kitchen Facility fully set up — Kenville Mine Project
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Timing
The Company is now targeting the start of portal work in early November 2026. This updates the original target date of the end of October 2026, disclosed in the Company's news releases of September 15 and September 18, 2026. The change reflects final site preparation and the need to complete remaining permit preconditions, including explosives Storage and Use authorization, before collaring the portal. Portal construction will commence once all safety protocols for explosives and overall site safety are established. The explosive magazines are on site, and we expect to have all requirements in place within the next two weeks to start portal construction and then the decline.
Financing
An update on financing is expected shortly. As previously disclosed on September 18, 2026, the Company has been in discussions regarding non-dilutive / development funding alternatives. Discussions are continuing and no definitive agreement has been entered into. There can be no assurance that any financing will be completed, within any particular timeframe, or on terms acceptable to the Company. Further details will be announced if and when definitive arrangements are entered into.
Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Andrew Randell, P.Geo., President and CEO of Aeonian Resources Corp. and a "Qualified Person" as defined by National Instrument 43-101, reviewed and approved the technical information contained in this News Release. Mr. Randell is independent of the Company.
On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson,
President, CEO and Director
604 488-3900
Investor Relations | 604-488-3900 | ir@XimenMiningCorp.com
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About Ximen Mining Corp.
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Ximen Mining Corp. acquired the Kenville Gold mine near Nelson British Columbia including all surface and underground property and mineral rights, buildings and equipment. The company also owns
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 A3E2DA.
This press release contains certain "forward-looking statements" within the meaning of Canadian securities. This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
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.
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 Tel: 604-488-3900
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321311
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does Ximen Mining expect Kenville portal work to start?
Ximen targets early November 2026, replacing its previous end-of-October target. Construction depends on completing remaining permit preconditions, including explosives Storage and Use authorization, and establishing explosives and overall site-safety protocols.
Has Ximen Mining secured development financing for Kenville?
No definitive financing agreement has been entered into. Discussions on non-dilutive or development funding alternatives continue, and Ximen expects a financing update shortly.