Vancouver - Xiana Mining Inc. (TSX-V: XIA) ('Xiana' or the 'Company') is providing an update in relation to ongoing developments at its wholly owned subsidiary, Minera Altos de Punitaqui.

The Chilean government has declared a 90-day state of emergency which took effect on March 19, 2020. A quarantine period was also issued which has now been extended until June 5, 2020. The movement of goods and supplies has been severely impacted to due to these measures.

As disclosed on April 28, 2020, the significant decline in the copper price and deteriorating macro economic climate has had a severe impact on cash flow and profitability of MAP which in turn has impacted production cycling at the operations.

MAP has therefore decided to suspend material production and move towards transitioning to care and maintenance levels to ensure compliance with the quarantine regulations and reduce further exposure to creditor claims. MAP is considering and advancing all potential creditor protection measures and taking appropriate legal advice to ensure protection of the enterprise value.

The Company will update shareholders in due course if there are other material developments.

Annual and Interim Financial Statements

We further provide an update on the status of filing our annual audited financial statements and accompanying management's discussion and analysis, and related CEO and CFO certifications for the financial year ended December 31, 2019 (collectively 'the Annual Filings'), which were required to be filed by March 30, 2020 and the filing of its unaudited interim financial statements for the period ended March 31, 2020 and accompanying management's discussion and analysis, and related CEO and CFO certifications.

On March 18, 2020, the Canadian Securities Administrators ('CSA') announced that they will provide issuers with a 45-day filing extension for filings required on or before June 1, 2020 to allow issuers the time needed to focus on the many other business and financial reporting implications of COVID-19. Xiana will rely on this exemption with respect to the Annual Filings in accordance with BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements.

The Company is continuing to work diligently and expeditiously with its auditors to file the Annual Filings prior to the deadline of June 14, 2020. The Company continues to also work diligently and expeditiously towards the filing of its interim financial statements for the period ended March 31, 2020 before July 15, 2020. In the interim, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207, Failure to- File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company confirms that since the filing of its interim unaudited consolidated financial statements for the nine months ended September 30, 2019, there have been no material business developments other than those disclosed in this and previous news release.

About Xiana Mining Inc.

Xiana Mining is a TSX Venture Exchange listed mining company focused on its producing operations and development properties in Region IV, Chile. Xiana acquired ownership of 100% of Minera Altos de Punitaqui ('MAP') from Glencore plc in November 2018. MAP is comprised of four producing copper-gold mines, a 3,600 tpd concentrator and associated infrastructure.

Since the closing of the acquisition, Xiana has quickly moved towards executing an optimisation plan aimed at reducing costs, extending mine life and improving profitability.

MAP owns a total land package of 11,838 hectares in Region IV comprised of exploration and exploitation concessions. Xiana is focussed on proving up the district scale potential of MAP's properties which will continue to provide sustainable feed for the concentrator and provide sustainable and increased production growth in the medium term at low cash costs.

Xiana is also engaged in the evaluation of producing and development stage mineral resource opportunities on an ongoing basis. The Company's common shares are listed on the TSX Venture Exchange under the symbol XIA.

Contact:

Anton Drescher

Tel: +1 (604) 685-1017

Email: ajd@harbourpacific.com

Forward Looking Statements

This press release may contain forward looking statements within the meaning of applicable Canadian securities legislation, including without limitation statements concerning future plans and objectives or expected results in respect of mine optimization, cost reduction and profitability. Although Xiana believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Xiana can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors. There is no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward looking statements. Accordingly, readers should not place undue reliance on forward looking statements. The forward looking statements contained in this press release are made as of the date hereof and Xiana undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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