Lincoln Expands the Shawinigan Project in Quebec
Suite 400 – 789 West Pender Street
Vancouver, BC V6C 1H2
Tel: 604-688-7377
Web: www.lincolnmining.com
Lincoln Expands the Shawinigan Project in Quebec
VANCOUVER – August ⚫, 2021. Lincoln Gold Mining Inc. (“Lincoln” or the “Company”) (TSXV:
LMG) announces that it has staked an additional 61 claims to the south and south-west of the Shawinigan
property in Quebec that it has recently optioned from Fayz and Ramy Yacoub. The expanded property
now consists of 82 contiguous mineral claims covering a total area of 48.4 square kilometers (4,841.8
hectares). No part of the property that has been staked is located in an area restricted to exploration.
Initial geological work on the newly staked areas has indicated mineralized zones of zinc, copper, nickel,
cobalt and titanium. Iron showings have also been identified. Previous exploration has covered only a
limited area o f the overall property but demonstrated significant potential for the discovery of these
minerals. Lincoln is now in the process of preparing a preliminary exploration program to initially cover the
entire claim area with a basic geological evaluation desi gned to locate areas for programs of trenching,
drilling and more geophysics.
About the Shawinigan Property
From 1971 to 1975, the original Shawinigan property was explored by Soquem Inc. of Quebec, which
conducted 5 programs including geological mapping, soil and rock sampling, mineralogical investigation,
magnetometer and EM surveys and diamond drilling that encountered low to medium grade nickel/copper
mineralization. Several drill holes intersected Ni/Cu mineralization at a shallow depth of 12 meters (40 to
45 feet) with continuous mineralization over 20.6 meters (68 feet) in hole 704-3A and 80 meters (264 feet)
in hole 704 -26 and 61.8 meters (204 feet) in hole 704 -33. Further drilling was recommended between
existing drill holes but was never initiat ed. The shallow and wide intersections are significant and may
indicate a shallow mineralized body a nd these intersections will be targets for follow up exploration and
drilling going forward.
In 2016, helicopter EM/MAG surveys were completed, identifying 68 electromagnetic conductors in three
cluster areas. Cobalt was identified with the copper and nickel from the mineralogical investigations . The
property is also the host of the Lake Huards cobalt prospect discovered by prospectors in 1956.
Lincoln has appointed Barbara Stehwien, P.Geo., as the primary Gestim delegate for Lincoln Gold Mining
in this area of Quebec. All previous exploration is historical and not compliant with National Instrument 43-
101 standards and is not to be relied on as current. Further exploration work will be required to classify a
current mineral resource or reserve.
Mr. Paul Saxton, the Company’s President and CEO, is considered a "qualified person" under National
Instrument 43-101, and has reviewed and approved the scientific and technical information contained in
this news release.
About Lincoln Gold Mining Inc.
Lincoln 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
a preliminary economic assessment of the Pine Grove Gold Project pursuant to National Instrument 43 -
2
101 - Standards of Disclosure for Mineral Projects, which was filed with SEDAR on February 16, 2015. An
update of the mineral resource estimate was reported in news release dated September 16, 2019, which
can be found on the Company’s website at www.lincolnmining.com. Lincoln is working with the United
States Forest Service (“USFS”) to secure the permits necessary to develop the Pine Grove Gold Project
into a low-cost heap leach operation with a high-grade gravity circuit.
Lincoln is developing exploration plans for the newly acquired Shawinigan Quebec property to evaluate
the copper, nickel, and cobalt opportunities at the site. Per the option agreement Lincoln will expend a
minimum of $250,000 over the next 12 months.
Lincoln also owns an interest in a joint venture in respect of the Oro Cruz Gold Property in California.
Lincoln’s joint venture partner is advancing the Oro Cruz Gold Property towards further exploration,
development and production.
Lincoln holds its interests in the U.S. bas ed 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]
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
All statements, trend analysis and other information contained in this pre ss release relative to markets about
anticipated future events or results constitute forward -looking statements. All statements, other than statements of
historical fact, included herein, including, without limitation, statements relating to the permitting process, future
production of Pine Grove Gold Project, budget and timing estimates, the Company’s working capital and financing
opportunities and statements regarding the exploration and mineralization potential of the Company’s properties,
are forward -looking statements. Forward - looking statements are subject to business and economic risks and
uncertainties and other factors that could cause actual results of operations to differ materially from those contained
in the forward- looking statements. Important factors that could cause actual results to differ materially from Lincoln’s
expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to
interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of
government agencies and native groups in the exploration and development of properties and the issuance of
required permits; the need to obtain additional financing to develop properties and uncertainty as t o the availability
and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of
meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental
approvals. Forward -looking statements are based on estimates and opinions of management at the date the
statements are made. Lincoln does not undertake any obligation to update forward -looking statements except as
required by applicable securities laws. Investors should not place undue reliance on forward- looking statements.