Pine Grove Gold Project Consolidated Ownership And Joint Venture on Oro Cruz

VANCOUVER, BC - Lincoln Gold Mining Inc., has entered into a binding letter agreement with Goldcliff Resource Corporation to purchase back their current earn-in joint venture interest in the Pine Grove Gold Project for the consideration of USD $200,000 in cash and 2,750,000 common shares of Lincoln. Details of the Pine Grove Letter Agreement were announced previously. This purchase will bring 100% of the Pine Grove Gold Project back into the ownership of Lincoln.

Lincoln also reports that it has finalized an Option and Joint Venture Agreement (JV Agreement) granting to Demerara Gold Corp. and Bell Mountain Exploration Corp. an option to purchase up to an undivided 75% interest in the Oro Cruz Property.

Paul Saxton, President and CEO, said, "Following the recent consolidation of the Company's stock, name change and resource update, these property agreements are the last part of Lincoln's restructuring plans to form a clear and focused path to bringing the Pine Grove project into production, having the Oro Cruz Optionee advance the property while retaining a significant position in it, and continuing work on expanding the Company's gold resources. Lincoln has been in the permitting process for the Pine Grove Gold Project with the US Forest Service since 2014 and is now entering the final stages of the process. Following the permitting process, pre-construction activities will begin. It is expected that it will take approximately a year to complete construction of the mine and plant facility".

The Pine Grove Gold Project is currently comprised of two defined open pits with gold resources, the Wheeler and the Wilson deposits, as reported in an Amended and Restated NI 43-101 Preliminary Economic Assessment for the Pine Grove project, Lyon County, Nevada.