Lincoln GOLD and Eros Resources Provide Update ON Bell Mountain GOLD Project Transaction
LINCOLN GOLD AND EROS RESOURCES PROVIDE UPDATE ON BELL
MOUNTAIN GOLD PROJECT TRANSACTION
VANCOUVER – August 16, 2024 – Lincoln Gold Mining Inc. (“Lincoln” ) (TSXV: LMG)
and Eros Resources Corp. (“Eros” ) announce that Lincoln and Eros continue to work
towards satisfying the remaining conditions to completing Lincoln’s proposed acquisition of
Eros’ Bell Mountain gold project, located in Churchill County, Nevada (the “Transaction”).
The Transaction is governed by a purchase agreement dated November 3, 2023, as
amended on January 8, 2024, March 15, 2024, May 31, 2024 and August 15, 2024 between
Lincoln, Lincoln Resource Group Corp. (a wholly-owned subsidiary of Lincoln), Eros, and Bell
Mountain Exploration Corp. (a wholly-owned subsidiary of Eros). Pursuant to the amending
agreement dated August 15, 2024, the parties have agreed to extend the outside date of the
Transaction to November 15, 2024.
Completion of the Transaction remains subject to a number of conditions, includ ing the
preparation of a Preliminary Economic Assessment (the “ PEA”) for the Bell Mountain gold
project, a financial plan which outlines Lincoln’s anticipated expenses in the first six months
following closing of the Transaction and final approval of the TSX Venture Exchange. Welsh
Hagen Associates completed a draft PEA on August 7, 2024, which is currently under review
by Lincoln and Eros.
For comprehensive details on the Transaction, please refer to Lincoln’s news releases dated
August 10, 2023, October 27, 2023, November 6, 2023, January 5, 2024, March 15, 2024
and May 14, 2024, available on SEDAR+ at www.sedarplus.ca, or www.lincolnmining.com
and Eros’ news releases dated August 10, 2023, November 12, 2023 and May 6, 2024,
available on SEDAR+ at www.sedarplus.ca, or www.erosresourcescorp.com.
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. Lincoln has prepared a preliminary economic assessment
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 Co rporation, both
Nevada corporations. For more information, please contact Paul Saxton, President and CEO
of Lincoln.
About Eros
Eros Resources Corp. is a Canadian public company listed on the Toronto Venture
Exchange. The Company’s business objective is the identification, acquisition, and
exploration of advanced -stage projects with a North American focus. In addition, the
Company plans to make strategic investments with a global focus on a diverse commodity
base. Eros management’s expertise supports this strategy.
For further information, please contact:
Paul Saxton
President and CEO, Lincoln Gold Mining Inc.
Tel: (604) 688-7377
Email: [email protected]
EROS Resources Corp.
Tom MacNeill
President and Chief Executive Officer
Phone: 306-653-2692
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.