Ximen Mining Corp. Provides Kenville Site Update and Targets Early November Portal-Face Start

Ximen Mining Corp. (XIM) confirmed that site infrastructure, equipment, and personnel are fully mobilized at the Kenville Gold Mine. The company has delayed portal-face work, previously targeted for late October 2026, to early November 2026 to finalize site preparation and secure explosives storage and use authorization permits.

The release follows a series of operational and engineering updates from May through September 2026, culminating in a $350,000 bridge private placement in September to fund site operations while securing longer-term capital. Ximen Mining anticipates a near-term update on financing discussions for non-dilutive development funding, though no definitive agreement has been reached.

Ximen Mining Corp. (XIM) has reached a routine operational milestone, though the event does not constitute a material catalyst. The company’s portal-face commencement was delayed by two weeks due to standard regulatory preconditions, specifically the need for explosives authorization. Management has indicated that this issue will be resolved within two weeks.

The primary focus remains the company’s unresolved financing situation. Ximen Mining has been raising small bridge capital, including $350,000 in September, while actively negotiating non-dilutive funding. The lack of a definitive financing agreement, combined with a critically constrained balance sheet, tempers the positive operational progress.

In the context of historical news, the project is advancing methodically through permitting and engineering phases. However, the absence of a confirmed funding source for the portal and decline development introduces execution risk. The update is in line with previous expectations but does not alter the fundamental capital dependency of the project.

Ximen Mining Corp. (XIM) is a junior gold explorer and developer operating exclusively in British Columbia. Its flagship asset is the Kenville Gold Mine, a historic operation located in the Nelson mining camp. The company currently holds a Mines Act permit for a new Venango Portal and 1,200 meters of decline development, with the objective of accessing multiple gold-bearing quartz veins intersected in previous surface drilling.

The company’s portfolio also includes a 100% interest in the Amelia Gold Mine and the Brett Epithermal Gold Project. Additionally, Ximen Mining holds a 100% interest in the Treasure Mountain Silver Project under an option agreement that requires staged cash and stock payments, along with development funding from a partner. The company is currently transitioning from engineering, permitting, and site preparation to active underground portal and decline construction.