Financials

Lincoln Mining Corporation will hold its Annual General Meeting on May 21, 2010. Documentation related to the meeting is posted below. Please contact the Company if you have any questions about this material.

On August 18, 2009, the Company closed the merger discussed under ‘Qualifying Transaction’, completed a private placement resulting in gross proceeds of $4.97 million and settled debt in the amount of $973,593 through the issuance of shares. (See note 5 to the audited financial statements.)

The merger also resulted in the Company’s stock being listed on the TSX Venture Exchange and the Company cancelling its Over the Counter Bulletin Board (“OTCBB”) listing in the United States.

The positive working capital achieved through the private placement and debt settlement has allowed the Company to proceed with three key programs:

•     Conduct a drilling program at the Pine Grove Property;
•     Acquire the Oro Cruz Property;
•     Conduct a geophysical program at the La Bufa Property.

The results of these programs are discussed under ‘Project Summaries and Activities’ in the Company’s Management Discussion and Analysis as of April 21, 2010.

The Company concluded 2009 with positive working capital of 1,590,889 and with definitive plans to move each of its three projects forward.

The Company’s goal is to become a gold producer and Company management believes that its two advanced properties, the Pine Grove and the Oro Cruz, will be able to bring this goal to fruition in the near term. The Company’s third project, the La Bufa Property in Mexico, is not as far advanced but holds significant potential.

For full corporate disclosure on the Company, please go to the regulatory website www.sedar.com. 

2009 Year End Financial Statements December 31, 2009

Form 51-102F1 Management Discussion and Analysis as of April 21, 2010