Hooray, Hooray: Ximen Mining is Back!

May 18, 2020

Report #20 Gold, Silver, Tellurium, Copper in southern British Columbia, Canada

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 ISIN: CA98420B2003 Shares Issued & Outstanding: 56,145,451

Hooray, Hooray: Ximen Mining is Back!

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!

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”

on the existing permitted areas”, the company noted and added, “we see a very busy season ahead”.

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.

A strong newsflow can be expected.

According to the press-release, the exploration season is expected to begin in June “and we anticipate initiating drilling activities immediately

More or less quietly and secretly, it has become the undisputed “top dog” in southern British Columbia. Hooray, Ximen!

Chart Canada (TSX.V)

Canada Symbol (TSX.V): XIM Current Price: $0.36 CAD (05/15/2020) Market Capitalization: $20 Million CAD

Well, that sounds good!

As the newly published property map illustrates on the next page, Ximen now owns a respectable portfolio with promising gold assets.

Chart Germany (Tradegate)

German Symbol / WKN: A2JBKL / 1XMA Current Price: €0.23EUR (05/15/2020) Market Capitalization: €13 Million EUR

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Report #20 | Ximen Mining Corp.

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 rearview mirror, the previous all-time high from 2011 is getting smaller and smaller.

Source: Ximen Mining’s press-release of May 15, 2020

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 miningfriendly 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 boughtdeal 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.

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Report #20 | Ximen Mining Corp.

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.

Updated chart: http://schrts.co/vbhdYEkn

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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 guarantee of future results or performance, 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 public filings for a more complete 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 report, other than statements of historical fact, should be considered forward-looking statements. 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 immediately 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 private 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 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; 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 portal before building the portal for the new decline, and that as soon as this part is finished, 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 projected 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 regulatory 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 secure potential milling and processing opportunities; that uneconomic mineralization will be encountered with drilling; that the targeted prospects can not be reached; that drilling will not be completed; that uneconomic 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 capital costs; interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on li-

Report #20 | Ximen Mining Corp.

mited test work and by comparison to what are considered analogous deposits may prove with further test work not to be comparable; gold mineralization may be much less than anticipated or targeted;intended methods 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 positive results from the advisory are reached; and even if there are considerable resources and assets on any of the mentioned companies‘ properties or on those under control of Ximen, these may not be minable or operational profitably. The writer assumes no responsibility to update or revise such information 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. Before 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 Rockstone’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 directly 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 report 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, 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. 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 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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