Ximen Mining Corp. Advancing Non-Dilutive Funding for Kenville Gold Mine Portal Development and Announces up to $350,000 Bridge Private Placement

Ximen Mining Corp. (XIM) announced a non-brokered private placement of up to 4,375,000 units priced at $0.08 per unit, aiming to raise up to $350,000 in gross proceeds. Each unit consists of one common share and one common share purchase warrant exercisable at $0.12 per share for a period of 18 months.

The company intends to use the proceeds to fund ongoing operations at its Kenville site and to serve as bridge capital while it negotiates non-dilutive funding for portal and decline development. Management targets finalizing the larger non-dilutive arrangement within approximately 30 days to avoid further equity dilution.

Site preparations are currently advanced, with equipment already on-site and power connected. Portal construction is targeted to commence by the end of October 2026, subject to financing and permit conditions. The closing of the private placement is expected on September 25, 2026, with a four-month-and-one-day hold period under Canadian securities laws.

Ximen Mining Corp. (XIM) has secured a $350,000 bridge placement, a move the company describes as financially necessary given its critically constrained liquidity. The announcement aligns with prior operational updates from September 10, 2026, which indicated that funding options were being evaluated.

While the bridge financing allows operations to continue, the lack of a finalized non-dilutive funding package remains a material risk. The company’s reliance on equity financings to fund pre-revenue development increases shareholder dilution and underscores the absence of strategic capital partners. The market impact is expected to be muted, as the financing size is small relative to the company's market capitalization and the dilution is already priced into the low share price.

Ximen Mining Corp. (XIM) is a junior gold explorer operating exclusively in British Columbia. Its flagship asset is the Kenville Gold Mine, located in the historic Nelson mining camp, where the company is advancing a new underground decline to access gold-bearing quartz veins identified by surface drilling.

The company holds a 100% interest in the Amelia Gold Mine and the Brett Epithermal Gold Project, along with the Treasure Mountain Silver Project under an option agreement. Regarding development status, Ximen has secured water licenses, completed engineering designs for water retention and culverts, and is finalizing building stabilization inspections, with the current focus on breaking ground for the underground decline.