Lincoln Gold Announces Signing of Drill Contract for the Pine Grove Property
Suite 400 – 789 West Pender Street
Vancouver, BC V6C 1H2
Tel: 604-688-7377
Web: www.lincolnmining.com
Lincoln Gold Announces Signing of Drill Contract for the Pine Grove Property
VANCOUVER – June 24, 2021. Lincoln Gold Mining Inc. (“Lincoln” or the “Company”) (TSXV: LMG)
is pleased to announce that it has signed a drilling contract with KB Drilling Co. Inc. of Moundhouse,
Nevada to carry out a core hole drilling program at its Pine Grove project south of Yerington, Nevada, with
an anticipated start date in September 2021.
This drilling program is an important next step in determining processing options for higher grade gold,
potential expansion of known gold mineralization, and final pit design.
There are three primary objectives to this drill program:
• Three previously drilled rotary holes will be twinned to compare with current drill core results. This
will better assist the Company in identifying high grade zones of mineralization and designing the
recovery system for the higher -grade mineralization on the property. When the Pine Grove mine
operated from 1865 to 1886, it was reported that approximately 240,000 gold ounces were
produced at an average grade of 1.3 - 1.4 ounces per ton (see news release of February 19, 2017).
• Two geotechnical holes are planned for each mining pit (4 holes total) to determine the pit slopes
for the final overall design.
• Potential expansion of known gold mineralization in the Wilson Pit area (see news release of
September 16, 2019).
The Company is pleased to take this next key step in advancing the permitting process . Understanding
and segregating the high-grade gold zones at the Pine Grove project area is an important part of the overall
production plan.
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 s tructural 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
U.S. Forest Service 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.
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Lincoln holds its interests in the U. S. based 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]
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 relative to markets
about anticipated future events or results c onstitute forward-looking statements. All statements, other
than statements of historical fact, included herein, including, without limitation, statements relating to the
royalty buydown, 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 subj ect 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 m aterially 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 gov ernment 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 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 governmental approvals.
Forward-looking statements are based on estimate s 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.