Ximen Mining arranges $500,000 private placement

On December 29, 2025, Ximen Mining announced a non-brokered private placement to raise $500,000 through the issuance of 10,000,000 units at $0.05 per unit. Each unit consists of one common share and one 18-month warrant exercisable at $0.10. The proceeds are earmarked for exploration in British Columbia and general working capital. This follows a string of financial reports showing the company operating with negligible cash balances (often less than $2,000) and a massive working capital deficit.

The impact of this news is negative for existing shareholders, despite providing a temporary lifeline. - Dilution and Down-Round: This financing is priced at $0.05, a significant discount to the $0.08 flow-through placement closed exactly one year prior (December 2024). It signals a loss of bargaining power and deteriorating market sentiment. - Inadequate Capital: A $500,000 raise is a "band-aid" solution. As of September 30, 2025, the company had a working capital deficit exceeding $3.7 million and a cash balance of just $1,631. The new funds will likely be consumed immediately by accounts payable ($1.3M) and amounts due to related parties ($2.0M). - Stalled Progression: Despite positive drill results at the Brett project in October 2025 (79.2 g/t Au over 0.55m), the company has failed to translate geological success into financial stability.

Ximen Mining Corp. is focused on precious metal properties in Southern British Columbia. - Kenville Gold Mine (Nelson, BC): The flagship project. The company aims to develop a new decline and bring the historic mine back into production. Progress has been slow, hindered by permitting, infrastructure requirements (culverts/water management), and lack of capital. - Brett Epithermal Gold Property (Vernon, BC): A secondary exploration project that recently returned high-grade intercepts (79.2 g/t Au) but requires significantly more drilling to define a resource.