Summary

Updated: 2/3/2012 - 1:20pm Symbol: LMG.V

Open: 0.000 Volume: 0 Last: 0.070 Day Hi: 0.000 Change: 0.00 Day Low: 0.000

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Highlights & Objectives

Lincoln Mining has three outstanding projects located in key mineral regions of California, Nevada and Chihuahua, Mexico.  The Pine Grove and Oro Cruz properties provide a near-term production opportunity for investors.

The Pine Grove Property in southwestern Nevada is an advanced-stage gold project. A new technical report dated March 16, 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 oz gold contained in 4,136,000 tons grading 0.028 opt gold at a 0.010 opt gold cutoff grade (see Technical Report filed on SEDAR March 21, 2011).  Additional exploration drilling programs are planned to potentially increase the size of the resource base (see news release May 24, 2011).  The programs will test numerous prospective areas of the property.  Permitting for these programs is in progress.  It is the Company's goal to advance the Pine Grove district into production with open-pit and heap-leach processing. 

The Oro Cruz Property in southeastern California is a pre-development-stage gold project. Lincoln management believes that the project can 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, which defined an Inferred resource of over 340,000 oz gold.  In March 2011, Lincoln and Elgin Mining entered into an exploration financing agreement, whereby Elgin has the exclusive right and option to acquire up to a 60% undivided interest in the Oro Cruz property by funding exploration expenditures. Over the next two years, Elgin has committed to fund exploration at Oro Cruz totaling $3MM, prior to earning any interest in the project.

Lincoln plans to explore the down-dip projection of the Oro Cruz mineralized body in an effort to determine the extent of gold mineralization. A new topographic base map has been constructed which will aid in the positioning of new exploration drill holes. The Company also plans to conduct some infill drilling to potentially upgrade the existing Inferred gold resources to the categories of Indicated and Measured. All planned drilling will require permitting under the jurisdiction of the US Bureau of Land Management, El Centro Field Office.

The La Bufa Property located in southwestern Chihuahua State, Mexico is an advanced exploration project with a history of production in the district. La Bufa has excellent exploration potential and the Company believes that due to historic production and mineralization trends, this project has multi-million ounces gold-silver potential. Lincoln geologists have been focusing on defining drill targets in the northwest part of the property, which Company's management believes to have substantial mineral potential. A drill program was conducted in 2011 which confirmed gold-silver structures in the northwestern portion of the property. Work continues on the project and assays are still pending.

On March 31, 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 La Bufa property by funding exploration expenditures. Elgin has committed to fund exploration at La Bufa totaling $1MM over the next two years, prior to earning any interest in the project.

Lincoln Mining's management team of senior mining executives, engineers and geologists have a worldwide record of exploration, mine-finding and mine-building experience.

The Company's long term objective is to become an intermediate-size gold and silver producer.

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