Ximen Mining Corp. (TSXV: XIM) (OTC Pink: XXMMF) (FSE: 1XM) has announced it is advancing site construction and preparation activities at its Kenville Gold Mine project near Nelson, British Columbia. The company confirms that a key regulatory pre-construction notice period for surface water-management drawings ended September 1, 2026, clearing the way for active construction work. Liner installation for flood retention ponds is now underway, with the company targeting portal construction commencement by the end of October 2026. Investors may be watching for updates on construction milestones and funding arrangements as the project moves forward.

Key Points

  • Ximen Mining Corp. (TSXV: XIM) is advancing construction at its Kenville Gold Mine near Nelson, British Columbia
  • Flood retention pond liner installation is underway and targeted for completion by the end of September 2026
  • The company holds a Mines Act permit authorising a new Venango Portal and 1,200 metres of decline development
  • Investors should watch for receipt of building foundation and mine-roads stability reports, funding announcements, and portal construction updates

Flood Retention Pond Installation Marks Active Construction Phase at Kenville

With the applicable pre-construction notice period having concluded on September 1, 2026, Ximen has commenced installation of liners for flood retention ponds authorised under its Mines Act permit as surface water-management structures. The ponds are designed to retain stormwater on site during significant rain events, including for a theoretical 200-year flood event as designed. The company expects liner installation to be completed by the end of September 2026, subject to normal construction and site conditions. Electrical power has also been connected to the site, enabling further preparation activities to proceed.

Building Foundation and Mine-Roads Stability Work Completed Pending Final Reports

Ximen states that physical work associated with the inspection of existing building foundations and with a mine-roads stability assessment has been completed. The company is now awaiting the final written reports from those processes and has indicated it will provide further information once those reports are received and reviewed. The release states that a small, select construction crew is already on site, with Ximen organising materials, equipment, contractors, and personnel for the next phase of work. The company also noted an intention to introduce additional employment opportunities as work progresses and feasibility permits.

Venango Portal Construction Targeted for End of October 2026 Subject to Conditions

Ximen holds a Mines Act permit authorising establishment of the new Venango Portal and 1,200 metres of decline development. The company previously received the groundwater licences required before portal and decline construction can begin, as disclosed in an April 2026 release. Following completion of flood retention pond work and remaining pre-construction conditions, Ximen is targeting commencement of portal construction by the end of October 2026, subject to contractor availability, procurement, site conditions, remaining engineering deliverables, and normal construction considerations.

Construction Funding Options Under Evaluation as Ximen Executes Site Milestones

Ximen disclosed that it continues to evaluate funding options to support site construction and mobilisation at Kenville. The company did not disclose specific funding amounts, sources, or timelines in the announcement, stating only that further details will be announced if and when definitive arrangements are entered into. The immediate share price impact was not clear from available public information. The technical information in the release was reviewed and approved by Andrew Randell, P.Geo., a Qualified Person as defined under National Instrument 43-101, who is independent of the company.