Overview

Lincoln Mining Corporation (the “Company”) is a Canadian based exploration and development company trading on the TSX Venture Exchange under the symbol LMG. The Company focus is on the acquisition, exploration and development of mineral projects in North America. Lincoln currently holds interests in gold and silver properties in key mineral regions of Nevada, California and Mexico. All of its projects are situated in districts with significant histories of mineral production and infrastructure. The Company’s primary goal is to advance its Pine Grove project towards production (see property sections for details).

In March 2011, Lincoln Mining announced that it has entered into an exploration financing agreement with Elgin Mining Inc. (“Elgin Mining”) of Vancouver, B.C. on two of its projects, the Oro Cruz project in California and the La Bufa project in Mexico.  In September 2012, Lincoln announced that it had terminated its agreement with Elgin Mining Inc. due to certain unfulfilled obligations under the agreement. No work will be conducted on these projects, pending arbitration.

Lincoln announced that the Company has closed the acquisition of the Bell Mountain project in Nevada (see news release dated November 28, 2012). 

Lincoln’s primary focus in 2012 will be to bring its two projects in Nevada into production. Lincoln plans to grow steadily by acquiring new precious metals projects that hold exploration potential and by diversifying its mining projects portfolio through joint ventures with established companies.

Nevada

Bell Mountain (recent acquisition) – On November 28, 2012, Lincoln announced that it has entered into a Purchase Agreement for the acquisition of the Bell Mountain Property. On September 5, 2012, Lincoln announced that it had signed a Letter Agreement with Laurion Minerals Exploration Inc. for the purchase and assignment of an option to earn a 100% interest in the Bell Mountain Property in Churchill County, Nevada. Bell Mountain, which is an advanced-stage gold-silver project, is approximately 150 miles northeast from the Pine Grove Property. For a description of this project, maps and photos, please go to the Bell Mountain Property section. 

The Pine Grove Property, which is an advanced-stage gold project. A new NI 43-101 technical report filed on SEDAR on March 21, 2011 reports combined Indicated resources for the Wheeler and Wilson deposits at 177,000 ozs gold contained in 5,316,000 tons grading 0.033 opt gold at a 0.010 opt gold cutoff grade. In addition, Inferred gold resources are reported at 115,000 ozs gold contained in 4,136,000 tons grading 0.028 opt gold at a 0.010 opt gold cutoff grade. An open-pit mine and heap-leach process, combined with a small milling operation for high-grade ores, are envisioned by the Company. For more detailed information on this project, go to the Pine Grove Property summary page.

Once the acquisition of Bell Mountain has been completed, Lincoln’s primary focus will be to bring its projects in Nevada into production.

California

The Oro Cruz project is located in the historic Tumco Mining District of southeastern California approximately 14 miles southeast from the operating Mesquite gold mine and adjacent to the past producing American Girl gold mine and the Padre and Madre gold mines. Lincoln believes the Oro Cruz project holds near term potential to be expanded and developed into a producing gold mine through renewed open-pit and underground mining. A NI 43-101 technical report was filed on SEDAR in September 2010 reporting Inferred resources of over 340,000 oz gold.

In March 2011, Lincoln and Elgin Mining entered into an exploration financing agreement, granting Elgin the exclusive right and option to acquire up to a 60% undivided interest in the Oro Cruz property by funding exploration expenditures. Over a period of two years, Elgin committed to fund exploration at Oro Cruz totaling $3MM, prior to earning any interest in the project. In September 2012, Lincoln announced that it had terminated its Letter Agreement with Elgin Mining. Permitting and exploration drilling have been delayed pending arbitration.

Mexico

In Mexico, the La Bufa Property is situated in the district of Guadalupe y Calvo in the northern State of Chihuahua. This project lies within the Sierra Madre Occidental along a trend encompassing numerous gold and silver mines. La Bufa offers excellent exploration potential and a drill program was undertaken in 2011. A 20-hole drilling program was completed in December 2011, which confirmed the existence of gold-silver mineralized structures, quartz breccias zones, and some significant silver-gold intercepts were encountered.

Lincoln and Elgin Mining entered into an exploration financing agreement, granting Elgin the exclusive right and option to acquire up to a 60% undivided interest in the La Bufa property by funding exploration expenditures. Elgin has committed to fund exploration at La Bufa totaling $1MM over a two year period, prior to earning any interest in the project. Further work is being considered pending arbitration of the letter agreement with Elgin Mining.

Senior-level Management

While good projects are critical to success, equally important is a management team that can negotiate the risks, difficulties and complexities of mineral exploration and development. Lincoln Mining Corporation has an experienced team which includes senior executives, mining engineers and geologists who have developed major mines and explored some of the world's most important mineral regions.