Lincoln Gold Announces Oversubscription of Private Placement
Suite 400 – 789 West Pender Street
Vancouver, BC V6C 1H2
Tel: 604-688-7377
Web: www.lincolnmining.com
Lincoln Gold Announces Oversubscription of Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
VANCOUVER – August 5, 2020. Lincoln Gold Mining Inc. (“Lincoln” or the “Company”) (TSXV:
LMG) is pleased to announce that, further to its press release dated June 16, 2020, its previously
announced private placement has been oversubscribed. The Company now proposes to issue up to
4,650,000 units of the Company (the “Units”) at a price of $0.11 per Unit to raise gross proceeds of up to
$511,500. Net proceeds from the Private Placement will be primarily used towards the mine operations
permitting process for the Pine Grove Gold Project in Nevada, a pre-feasibility study and for general
working capital purposes.
Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one
half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle
the holder, on exercise thereof, to purchase one additional Common Share at a price of $0.15 for a
period of 24 months from the closing of the Private Placement.
Closing of the Private Placement is subject to all necessary regulatory approvals including acceptance
from the TSX Venture Exchange. All securities issued in connection with the Private Placement will be
subject to a four-month hold period from the closing date under applicable Canadian securities laws, in
addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside
Canada. Certain insiders of the Company may acquire Units under the Private Placement. Finders’ fees
may be payable in connection with the Offering and those qualified persons involved as finders will
receive a cash fee of up to 7% of the proceeds raised and such number of warrants (having the same
terms as the warrants forming part of the Units) equal to up to 7% of the total number of Units sold.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons
unless registered under the U.S. Securities Act and applicable state securities laws, unless an
exemption from such registration is available.
About Lincoln
Lincoln Gold Mining Inc. is an advanced -stage gold mine exploration and dev elopment 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 assessment of the Pine Grove Gold
Project pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Lincoln is
working with the 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 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.
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Lincoln holds its interests in these projects throug h 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]
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
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.
All statements, trend analysis and other information contained in this press release rel ative to markets
about anticipated future events or results constitute forward -looking statements. Forward -looking
statements are often, but not always, identified by the use of words such as “seek”, “anticipate”,
“believe”, “plan”, “estimate”, “expect” an d “intend” and statements that an event or result “may”, “will”,
“should”, “could” or “might” occur or be achieved and other similar expressions. All statements, other
than statements of historical fact, included herein, including, without limitation, stat ements relating to
the private placement, 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 unce rtainty as to 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 governme ntal 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.