Ximen Mining Corp. (TSXV: XIM) (OTC: XXMMF) (FSE: 1XM) has released a site readiness update for its Kenville Gold Mine near Nelson, British Columbia, announcing a revised target of early November 2026 for the start of portal-face work. The update shifts the previously disclosed end-of-October target, citing final site preparation requirements and pending explosives authorisation. With infrastructure in place and a startup crew assembled, investors may be watching closely as the company moves toward underground development. Financing discussions for non-dilutive funding are also continuing, though no definitive agreement has been reached.

Key Points

  • Ximen Mining Corp. (TSXV: XIM) (OTC: XXMMF) (FSE: 1XM) operates the Kenville Gold Mine near Nelson, British Columbia.
  • The company has revised its portal-face work start date to early November 2026, from the previously disclosed end-of-October 2026 target.
  • Site infrastructure, primary mining equipment, and a qualified startup crew are confirmed on site; explosives storage and use authorisation remains a precondition before collaring the portal.
  • Investors should monitor the company's anticipated financing update and the receipt of remaining permit preconditions for portal construction.

Kenville Site Infrastructure and Equipment Readiness

According to the announcement, site buildings and supporting infrastructure are in place at Kenville, including office and change facilities, shop capacity, and surface works. Power has been connected to site, and primary mining and surface equipment required for the planned portal-face start is on site, with critical spare parts held for key items. The company states that certain backup equipment and support items remain off-site but are available for mobilisation as needed. The survey plan for the new portal face has been completed, and the company is preparing to square the portal face under its existing Mines Act authorisation.

Startup Crew Assembled for Kenville Portal Development

Ximen Mining confirms that a startup crew has been assembled for the planned portal-face work. The team includes a Class 1 urban and close-proximity blaster for surface blasting and portal square-up, a Class 2 underground blaster for underground development, an experienced miner, and a Level 3 first aid certified individual who will also serve as occupational health and safety manager. The release states that additional crew members are planned to join as underground development advances, subject to operating needs, suggesting a phased approach to staffing as the project progresses.

Revised Portal-Face Timing and Remaining Permit Preconditions

The company is now targeting early November 2026 for the portal-face start, updating the end-of-October 2026 timeline originally disclosed in September 2026 releases. The release states the change reflects final site preparation and the need to complete remaining permit preconditions, specifically an explosives Storage and Use authorisation, before collaring the portal. Explosive magazines are on site, and the company states it expects all requirements to be in place within approximately two weeks of the October 28 announcement date to commence portal construction and then the decline.

Non-Dilutive Financing Discussions Ongoing at Kenville

The announcement notes that a financing update is expected shortly. As previously disclosed on September 18, 2026, Ximen has been in discussions regarding non-dilutive and development funding alternatives. The release confirms that discussions are continuing and that no definitive agreement has been entered into. The company cautions that there can be no assurance any financing will be completed within any particular timeframe or on terms acceptable to the company, and states that further details will be announced only if and when definitive arrangements are finalised.