Vancouver, BC, March 3, 2025 – TheNewswire - Lincoln Gold Mining Inc. (TSX.V:LMG) (“Lincoln Gold” or the “Company”) is pleased to report the final logging and assay summary of the Wilson deposit NQ drill program that was completed at the Pine Grove Gold Project (see news release dated November 2, 2021). The program was designed to verify accuracy of previous drill results and enhance the resource category, and to target potential expansion of known gold mineralization within the Wilson Pit area.  

Five NQ core holes were completed at the Wilson deposit. Three sites were selected to twin previous recirculation core (“RC”) holes to compare geology and assay results. In addition, two sites were selected as step out holes to test potential for further gold mineralization.

Assay samples were analyzed at Paragon Geochemical in Sparks, Nevada. Gold and silver values reported by Paragon in ppm have been converted to Troy ounces per short ton, which is the standard used by Lincoln at Pine Grove.

Results of Step Out NQ Core Hole Drilling:

Two NQ holes, WL-118NQ and WL-119NQ, successfully verified potential expansion of the Wilson deposit.  The depths of the mineralization and the gold values encountered fit well within the blocks as predicted by the grade model. The gold mineralization occurs within the granodiorite host near contacts with feldspar porphyry and dacite dikes, which is consistent with the geologic model.

WL-118NQ Step Out Hole Core hole approx..100 ft from Lincoln RC hole WL-85 encountered three gold mineralization intercepts	WL-119NQ Step Out Hole Core hole approx..160 ft from Tech RC hole WL-39 encountered four gold mineralization intercepts
1.) 132.0-134.5’ (2.5’ @ 0.008) 2.) 175.0-195.0’ (20.0’ @ 0.009)   3.) 205.0-215.5’ (10.5.0’ @ 0.009)	1.) 96.4-100.5’ (4.1’ @ 0.024) 2.) 106.0-111.5’ (5.5’ @ 0.006) 3.) 182.5-187.5’ (5.0’ @ 0.014) 4.) 208.0-213.0’ (5.0’ @ 0.015)

Results of Twinned NQ Core Hole Drilling – Three NQ core holes were drilled and demonstrated comparable assay and geological results to the prior RC drill holes which encountered gold mineralization within the same mineralized zone as the twinned NQ core holes and in some cases the NQ drilling encountered additional mineralization. The twinned NQ core hole drilling confirms that the geologic model based nearly entirely on reverse circulation drilling at the Wilson and is a good representation of the deposit geology. The results of the comparisons show that coherent zones of mineralization are present in both RC and NQ core hole drilled at the Wheeler and Wilson deposits.

WL-120NQ Twinning Results Core hole & twin of Teck RC hole WL-29 encountered five gold mineralization intercepts	WL-121NQ Twinning Results Core hole & twin of Lincoln RC hole WL-102 encountered six gold mineralization intercepts	WL-122NQTwinning Results Core hole & twin of Teck RC hold WL-40 encountered four gold mineralization intercepts
1.) 135.0-140.0’ (5.0’ of 0.011) 2.) 145.5-149.0’ (3.5’ of 0.010) 3.) 155.0-160.5’ (5.5’ of 0.014) 4.) 188.0-194.5’ (6.5’ of 0.062) 5.) 202.5-209.0’ (6.5’ of 0.035)	1.) 35.5-40.0’ (4.5’ of 0.006) 2.) 84.0-89.0’ (5.0’ of 0.015) 3.) 94.0-103.5’ (9.5’ of 0.042) 4.) 108.5-119.0’ (10.5’ of 0.023)     123.0-130.0’ (mine workings) 5.) 130.0-136.0’ (6.0’ of 0.011) 6.) 148.2-159.5’ (11.3’ of 0.019)	1.) 30.0-38.0’ (8.0’ of 0.011 opt.) 2.) 110.0-112.0’ (2.0’ of 0.149 opt.) 3.) 119.0-122.5’ (3.5’ of 0.035 opt.) 4.) 159.0-166.5’ (7.5’ of 0.006 opt.)

 

QA/QC:

During November and December of 2021, five NQ core holes were drilled by KB Drilling of Mound House, Nevada. At the end of each shift the contractor delivered the core boxes to the supervisor project geologist at the secure Lincoln field office and sample storage warehouse in Yerington, Nevada.

During August 2024 the core was photographed, logged, and cut at the Lincoln Resources warehouse. The samples selected for analysis were split using a MK Diamond wet tile saw. The QA/QC protocols included the insertion of Certified Reference Material as well as a coarse blank material. Samples were analyzed at Paragon Geochemical in Sparks.  

Full details of the drilling, assaying and lithology of the 2021/2024 will be posted on the Company’s website www.lincolnmining.com.  

Paul Saxton, President and CEO states:  “The Company is pleased with the results of this drill program as it enables us to plan for additional drilling with the intent of adding to the Pine Grove Gold Project’s resource, even as we move to production at the Bell Mountain Gold Project.”

Technical Disclosure:

Paul Saxton, P.Eng., President and CEO of the Company, is a Qualified Person as defined by NI 43-101. Mr. Saxton has reviewed and approved the technical information in this news release.

About Lincoln Gold Mining Inc.:

Lincoln is a Canadian precious metals exploration and development company headquartered in Vancouver, BC with just over twenty-two million shares issued at this time.  Both the Bell Mountain and Pine Grove Gold Properties are within 61air miles of each other in the highly prospective Walker Lane mineral belt, known for its numerous gold and silver deposits. Lincoln is committed to maintaining steady and robust progress towards its goal of becoming a mid-tier gold producer.

For further information, please contact:

Lincoln Gold Mining Inc.  

Paul Saxton, President and Chief Executive Officer 

Phone: 604-688-7377 
Email: saxton@lincolnmining.com

 

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements:

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including expectations regarding the Company’s share price or any impact that marketing services may have on the business of the Company.

Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connation thereof. Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will be able to increase investor awareness because of the engagement of marketing services.

Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include that financing is still required, the impact will be different than as currently anticipated, risks relating to the actual results of current development and or exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.