Mr. Christopher Anderson reports

XIMEN ANNOUNCES $5M FINANCING

Ximen Mining Corp. has entered into a non-binding engagement letter pursuant to which Richardson GMP Securities LP shall act as agent to raise up to $5-million through the concurrent sale of (i) common shares of the company and (ii) units of the company, on a commercially reasonable efforts basis.

Pursuant to the engagement letter with the agent, $2-million of common shares are to be offered at an issue price of $1.10 per common share, and a minimum of $2-million to a maximum of $3-million of units are to be offered at an issue price of $1.10 per unit. Each unit comprises one common share and one-half of one share purchase warrant, where each whole warrant may be exercised to purchase a further common share at a price of $1.50 for a period of 12 months, subject to an acceleration provision, which may be exercised by the company in the event that the common shares trade at or above a price of $1.85 per share for a period of 10 consecutive trading days. In such case, Ximen may give notice, in writing and by way of news release, that the warrants will expire 30 days from the date of providing such notice, to be given no later than three business days following such 10-day period.

In connection with the sale of the offered securities, the company will pay the agent 8 per cent of the gross proceeds of the offering and grant the agent an option to acquire up to that number of common shares as is equal to 8 per cent of the total number of common shares sold under the offering, which option may be exercised for a period of 12 months at the price of $1.10 per common share. The company may additionally pay brokerage fees or a finder's fee comprising cash or warrants or a combination thereof.

It is anticipated that the units will be offered in Alberta, British Columbia and Ontario, and the common shares will be offered in Alberta and British Columbia, and either may be offered in such other jurisdictions as the agent and the company may agree to, prior to closing.

It is anticipated that the company will use the net proceeds raised from the offering for general working capital.

Closing of the offering is conditional upon approval of the TSX Venture Exchange.

We seek Safe Harbor.