Lincoln Announces Acquisition of Bell Mountain GOLD Project, Nevada
Suite 400 – 789 West Pender Street
Vancouver, BC V6C 1H2
Tel: 604-688-7377
Web: www.lincolnmining.com
LINCOLN ANNOUNCES ACQUISITION OF BELL MOUNTAIN GOLD PROJECT, NEVADA
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
VANCOUVER – November 9, 2023. Lincoln Gold Mining Inc. (“Lincoln” or the “Company”)
(TSXV: LMG) reports that it has entered into an agreement with Lincoln Resource Group Corp.,
a wholly-owned subsidiary of the Company, Eros Resources Corp. (“Eros”) and Bell Mountain
Exploration Corp. (“BMEC” and together with Eros, the “ Seller”), a wholly-owned subsidiary of
Eros, to acquire all of the assets that comprise the Bell Mountain project (the “Project” or “Bell
Mountain”) located in Churchill County, Nevada (the “ Transaction”). The closing of the
Transaction remains subject to the satisfaction of customary closing conditions for a transaction
of such nature, including acceptance by the TSX Venture Exchange (the “ Exchange”). The
Transaction will be an arm’s length transaction under Exchange policies.
Bell Mountain Project Description
The Project is located in Churchill County, Nevada, approximately a three hour drive south-east
from Reno. Bell Mountain has excellent access and is in a mining friendly county. Lincoln is very
familiar with the Project as it was part of Lincoln’s group of projects several years ago, until it was
optioned and sold to Eros. The Project is made up of 174 unpatented lode claims and is under
the jurisdictions of the Bureau of Land Management and the State of Nevada. Bell Mountain is
100% controlled by Eros and has a gold and silver resource. The Project has all major permits in
place to advance it through construction and into operations.
Bell Mountain is only a two hour drive from Lincoln’s Pine Grove project, located in Lyon County,
Nevada. The properties are close enough in distance so that one team of management,
engineering, environmental, cultural, and administrative personnel could operate both properties
and o ne recovery plant could handle both projects. Both projects are advanced -stage gold
exploration projects with established resources and both projects have significant exploration
potential. All these factors will help reduce ove rall capital and operating costs and will make for
an exciting operating plan.
For further details on Bell Mountain, please see the Company’s news releases dated August 10,
2023 and October 27, 2023.
Transaction Terms
Under the terms of the purchase agreement, Lincoln has agreed to issue to either BMEC or Eros,
as directed by Eros, (a) 3,000,000 common shares in the capital of the Company (“Shares”) on
the closing date of the Transaction (the “Closing Date”), and (b) 1,500,000 Shares within five
business days of the date on which Lincoln completes any issuance of Shares, the result of which
is that there are at least 28,500,000 Shares issued and outstanding. Following the Closing Date,
one of Eros or BMEC will be an insider of the Company.
Lincoln Resource Group Corp. will also grant to BMEC a net profits interest of 7.5% of the net
returns from gold and silver produced or extracted from the Project up to a maximum amount of
US$2,000,000. No finder’s fees will be paid in connection with the Transaction.
Closing of the Transaction is subject to final Exchange acceptance.
About Lincoln
Lincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company
holding a 100% interest in the Pine Grove Gold Project, in the Walker Lane structural zone of
western Nevada. The Company has prepared a preliminary economic assess ment of the Pine
Grove Gold Project pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral
Projects. Lincoln holds its interests in the US projects through its wholly owned subsidiaries,
Lincoln Resource Group Corp. and Lincoln Gold US Corporation, both Nevada corporations. For
more information, please contact Paul Saxton, President and CEO of the Company.
On behalf of Lincoln Gold Mining Inc.
Paul Saxton
President and CEO, Lincoln Gold Mining Inc.
Tel: (604) 688-7377
Email: [email protected]
Forward Looking Information
This press release contains “forward -looking information” within the meaning of applicable securities laws that is
intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements
that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the
negative thereof or other variations thereof or comparable terminology. Such forward -looking information includes,
without limitation, statements relating to the Company’s expectation that the Transaction will close, that the Transaction
will receive final Exchange acceptance, information with respect to the Company’s expectations, strategies and plans
for the Project including the Company’s planned expenditure s, management team and exploration activities , the
anticipated impact of the Transaction on the Company, and the issuance of the Shares on and after the Closing Date..
Forward-looking statements involve risks and uncertainties and 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 factor s that could cause actual results to differ materially from the Company's expectations
include those relating to the Company’s expectation that the Transaction will be completed, the failure to obtain approval
of the Transaction from the Exchange , and other risks detailed from time to time in the filings made by the Company
with securities regulators.
The reader is cautioned that assumptions used in the preparation of any forward -looking information may prove to be
incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of
numerous known and unk nown risks, uncertainties, and other factors, many of which are beyond the control of the
Company, including, without limitation, the Company not being able to complete the Transaction within an acceptable
timeline, exploration and development activities at the Project, and the risk that the Company may not obtain approval
of the Exchange or other necessary regulatory approval of the Transaction. The reader is cautioned not to place undue
reliance on any forward-looking information. Such information, although considered reasonable by management at the
time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-
looking statements contained in this news release are expressly qualified by this cautiona ry statement. The forward -
looking statements contained in this news release are made as of the date of this news release and the Company will
not update or revise publicly any of the included forward- looking statements unless as expressly required by applicable
law.