Lincoln Gold Closes Oversubscribed Private Placement
Suite 400 – 789 West Pender Street
Vancouver, BC V6C 1H2
Tel: 604-688-7377
Web: www.lincolnmining.com
Lincoln Gold Closes Oversubscribed Private Placement
VANCOUVER – August 13, 2020. Lincoln Gold Mining Inc. (“Lincoln” or the “Company”) (TSXV:
LMG) is pleased to announce that further to its news releases of June 16, 2020 and August 5, 2020, it
has closed its oversubscribed non-brokered private placement offering (the “Private Placement”) of
4,856,363 units of the Company (the “Units”) at a price of $0.11 per Unit to raise gross proceeds of
$534,200.
Each Unit consists 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 entitles 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.
The Company paid aggregate cash finders’ fees of $9,625 and issued 237,045 Finders’ Warrants in
connection with the Private Placement. Each Finder’s Warrant entitles the holder to acquire one common
share of the Company at $0.15 per share for 24 months from the date of closing.
All securities issued in connection with the Private Placement are subject to a four-month hold period
expiring December 14, 2020 under applicable Canadian securities laws, in addition to such other
restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
Net proceeds from the Private Placement will be primarily used towards a pre-feasibility study and the
final stages of the permitting process for the Company’s Pine Grove Gold Project in Nevada and for
general working capital purposes.
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 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 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,
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development and production.
Lincoln holds its interests in these 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 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” and “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, statements relating to the
permitting process, future production of Pine Grove Gold Project, budget and timing estimates, the
Company’s working capital and financing opport unities 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 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 estimates and opinions of management at the date the statements are made. Lincoln does no t
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.