Lincoln Grants Options

Suite 400 – 789 West Pender Street Vancouver, BC V6C 1H2 Tel: 604-688-7377 Web: www.lincolnmining.com

LINCOLN GRANTS OPTIONS

Vancouver, British Columbia – August 17, 2020. Lincoln Gold Mining Inc. (“Lincoln” or the “Company”) (TSXV: LMG) announces that pursuant to its Incentive Stock Option Plan, it has granted incentive stock options to directors, officers, insiders, employees and consultants of the Company to purchase up to an aggregate of 2,300,000 common shares in the capital stock of the Company. The options are exercisable at a price of $0.30 per share for a period of five years from the date of grant. All options vest immediately with the exception of 150,000 options granted to certain consultants including IR, which options will vest over a 12-month period with 25% of the allotment available for exercise every three months.

The options are subject to the approval of the TSX Venture Exchange.

For further information about the Company and its projects, please contact Paul Saxton at 604-688-7377 or visit the Company’s website at www.lincolnmining.com.

On behalf of Lincoln Gold Mining Inc.

Paul Saxton President and CEO Lincoln Gold Mining Inc.

Tel: (604) 688-7377 Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.