A Review of Lincoln’s Gold-Silver Exciting Progress in Nevada
Suite 400 – 789 West Pender Street
Vancouver, BC, V6C 1H2
Tel : 604-688-7377
Web: www.lincolnmining.com
A Review of Lincoln’s Gold-Silver Exciting Progress in Nevada
Vancouver, BC, January 23, 2025 – Lincoln Gold Mining Inc. (TSX.V: LMG) ("Lincoln Gold" or
the "Company") announced on January 6, 2025, of the completion of its acquisition of the fully permitted
for production Bell Mountain Gold/Silver deposit. This major milestone provides Lincoln the ability to
become an imminent gold producer. Once financing is in place, it is estimated that the time for
construction of the operation will be 8 to 10 months. The first gold and silver production will be about 4
to 5 months after that.
The Company is proceeding with discussions with various financial institutions for the capital required
to take Bell Mountain through construction and into startup. The intent of the Company is to raise these
funds mainly through debt instruments without any significant dilution of shares.
The plan is to operate the Bell Mountain as a simple open pit/heap leach mining operation. Ore will be
mined and crushed by contractors. The crushed ore will be placed on pads for heap leaching. The gold
and silver will be recovered onto activated carbon and the metals will then be stripped from the carbon.
The process is simple, and metallurgical studies show excellent gold recoveries.
The recently completed PEA (Preliminary Economic Assessment) commissioned by Welsh Hagen of
Reno Nevada shows an excellent potential robust cash flow. A gold price of $2,200/ounce and a silver
price of $24.00/ounce have been used in the base case economic evaluation from a $1,950 gold price pit
shell design, (updated capital and operating costs were used).
The following table has been taken from the PEA:
Pre-tax After Tax
Internal Rate of Return (IRR) (1) 63.2% 59.6%
NPV @ 5% Discount Rate (US$M) $25.69 $24.06
Net Cash Flow (US$M) $29.71 $27.97
Net Operating Margin (oz Au Eq) $535.97 $504.52
Payback Period ~10 Months ~11 Months
(1) Internal Rate of Return ("IRR") is a metric used in financial analysis to estimate the profitability of potential investments.
IRR is a discount rate that makes the net present value ("NPV") of all cash flows equal to zero in a discounted cash flow
analysis. IRR calculations rely on the same formula as NPV does. IRR is not the actual dollar value of the project; it is
the annual return that makes the NPV equal to zero. Generally speaking, the higher an internal rate of return, the more
desirable an investment is to undertake.
(2) Chart numbers are from the PEA report of Welsh Hagen dated January 6, 2025.
(3) The NI 43-101 PEA report is available on SEDAR and on the Company’s website.
From the chart above, excellent potential cash flow is achievable and a quick payback of capital is
possible. An exploration drill program is planned near each of the pit areas where inferred material
already has been shown to exist. It is expected that the resource base will increase significantly from this
exploration drill program. Cash flow from the Bell Mountain mine will go towards the building of the
Pine Grove mine, adding share value.
Paul Saxton, President and CEO states. “Now that Lincoln has acquired the Bell Mountain project, we
are well on our way to becoming a near term gold producer. We believe that additional planned
exploration work within the four defined resource deposits at the Bell Mountain operation will expand
resources significantly.
In addition, the permitting studies at the Company’s Pine Grove project near Yerington, Nevada will
be updated. These studies will allow Lincoln to advance that property to production. The Pine Grove
project, located approximately 150 miles by road to the west of Bell Mountain, has excellent upside
potential. Much of the design work at Pine Grove is completed, as have the various baseline
environmental studies required to complete the Environmental Impact Statement (‘EIS”).
Qualified Person:
Paul Saxton, P.Eng., President and CEO of the Company, is a Qualified Person as defined by NI 43-101. Mr.
Saxton has reviewed and approved the technical information in this news release.
About Lincoln Gold Mining Inc.:
Lincoln is a Canadian precious metals exploration and development company headquartered in
Vancouver, BC with just over twenty-two million shares issued at this time. Both the Bell Mountain
and Pine Grove Gold Properties are located near each other in the highly prospective Walker Lane
mineral belt, known for its numerous gold and silver deposits. Lincoln is committed to maintaining
steady and robust progress towards its goal of becoming a mid-tier gold producer.
For further information, please contact:
Lincoln Gold Mining Inc.
Paul Saxton, President and Chief Executive Officer
Phone: 604-688-7377
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements:
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation.
“Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or
developments that the Company expects or anticipates will or may occur in the future, including expectations regarding the
Company’s share price or any impact that marketing services may have on the business of the Company.
Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”,
“expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the
negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connation thereof. Such forward-
looking information and statements are based on numerous assumptions, including among others, that the Company will be
able to increase investor awareness because of the engagement of marketing services.
Although the assumptions made by the Company in providing forward-looking information or making forward-looking
statements are considered reasonable by management at the time, there can be no assurance that such statements will prove
to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the Company’s plans or expectations include that
financing is still required, the impact will be different than as currently anticipated, risks relating to the actual results of
current development and or exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays,
exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory
changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings
made by the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking
information and statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or
information.