Lincoln Gold Corp.
OTC Bulletin Board : LGCP

Lincoln Gold Corp.

October 19, 2007 15:18 ET

Lincoln Announces Gold Resources at Pine Grove Property, Nevada

CARSON CITY, NEVADA--(Marketwire - Oct. 19, 2007) - LINCOLN GOLD CORP. (OTCBB:LGCP) is pleased to announce the results of a gold resource estimate on the Company's 100%-controlled Pine Grove gold property located in the Pine Grove Hills, 20 miles south of Yerington, Nevada. The property consists of two patented mining claims and 93 unpatented lode claims.

The resource estimate is compliant with Canadian National Instrument 43-101 and was prepared by MineFill Services, Inc. of Vancouver, B.C., Canada in accordance with definitions of the Canadian Institute of Mining and Metallurgy's Standards on Mineral Resources and Mineral Reserves adopted in November 2000. The database consists of 160 reverse circulation holes totaling 53,000 ft drilled by Teck Resources in the early 1990's. Drilling was conducted largely on 100 ft to 200 ft centers on two gold deposits, the Wheeler and the Wilson. The two deposits are about 2,500 ft apart with excellent access, encompassing about 5 percent of the overall property. The Company has identified three large areas within the overall claim block, including one between the deposits, as potential exploration targets. A large exploration drill program is being planned for these areas.

At a cutoff grade of 0.010 opt gold and high assays capped at 0.5 opt gold, the Wheeler and Wilson deposits presently contain combined indicated resources of 4,444,000 tons grading 0.046 opt gold containing 202,300 ozs gold. Combined inferred resources for the two deposits are estimated at 1,614,000 tons grading 0.073 opt gold containing 117,600 ozs gold. Indicated resources were calculated based on a search radius of 60 ft with a minimum of four samples.

Mineral resources for the Wheeler and Wilson deposits at various cutoff grades are presented below.



WHEELER DEPOSIT - UNDILUTED MINERAL RESOURCES BY CUTOFF GRADE

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Cutoff Grade Grade Contained
Opt Gold Classification Tons Opt Gold Ozs Gold
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0.005 Indicated 2,916,000 0.051 149,432
Inferred 1,451,000 0.075 108,407
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0.010 Indicated 2,200,000 0.065 144,348
Inferred 1,101,000 0.096 105,889
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0.015 Indicated 1,719,000 0.080 138,184
Inferred 928,000 0.112 103,796
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Assays capped at 0.5 opt gold

WILSON DEPOSIT - UNDILUTED MINERAL RESOURCES BY CUTOFF GRADE

---------------------------------------------------------------------------
Cutoff Grade Grade Contained
Opt Gold Classification Tons Opt Gold Ozs Gold
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0.005 Indicated 3,759,000 0.018 69,050
Inferred 888,000 0.016 14,481
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0.010 Indicated 2,224,000 0.026 57,999
Inferred 513,000 0.023 11,745
---------------------------------------------------------------------------
0.015 Indicated 1,351,000 0.035 47,435
Inferred 251,000 0.34 8,621
---------------------------------------------------------------------------
Assays capped at 0.5 opt gold

SUMMARY OF WHEELER AND WILSON DEPOSITS - UNDILUTED AT A 0.010 OPT CUTOFF

---------------------------------------------------------------------------
Cutoff Grad Grade Contained
Opt Gold Classification Tons Opt Gold Ozs Gold
---------------------------------------------------------------------------
0.010 Indicated 4,424,000 0.046 202,347
---------------------------------------------------------------------------
0.010 Inferred 1,614,000 0.073 117,634
---------------------------------------------------------------------------
Assays capped at 0.5 opt gold


The Wilson Wheeler deposits are former gold producers that targeted high grade veining within the Pine Grove District. The Company believes that the potential exists for a bulk tonnage open pit mine with conventional heap leaching. In this regard, four large diameter holes are planned to be drilled to obtain bulk samples for metallurgical testing.

MineFill Services is presently completing a Technical Report NI 43-101 for filing with Canadian securities regulatory authorities (the "Technical Report") and will file the Technical Report within 45 days of the date of this news release in accordance with NI 43-101.

The Qualified Person for this release is Dr. David Stone, P. Eng., P.E. of MineFill Services, Inc., Vancouver, B.C., Canada.

Additional news on this property will be issued shortly.

Lincoln Gold Corp. is a US-based gold exploration company located in Nevada with several projects in various stages of exploration which includes three properties in Nevada and the La Bufa property in Mexico.

LINCOLN GOLD CORP.

Paul F. Saxton, President

All mineral resources in the Technical Report have been estimated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in National Instrument 43-101, commonly referred to as "NI 43-101". U.S. reporting requirements for disclosure of mineral properties are governed by the SEC Industry Guide 7. NI 43-101 and Guide 7 standards are substantially different. The terms "mineral reserve", "proven mineral reserve" and "probable mineral reserve" are Canadian mining terms as defined in accordance with NI 43-101. These definitions differ from the definitions in Guide 7. Under Guide 7 standards, a "final" or "bankable" feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.

The NI 43-101 technical report referenced in this press release uses the terms "mineral resource," "indicated mineral resource" and "inferred mineral resource". We advise investors that these terms are defined in NI 43-101; however, these terms are not defined terms under Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of "contained pounds" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in-place tonnage and grade without reference to unit measures.

This Press Release may contain, in addition, to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Key factors that could cause actual results to differ materially from those described in forward-looking statements are:

(i) the results of the NI 43-101 report on the Pine Gove properties may be different than anticipated;

(ii) the inability of the Company to achieve the financing required to pursue the exploration of the Pine Grove properties;

(iii) the results of exploration of the Pine Grove properties; and

(iv) the lack of commercial mineralization on the Pine Gove properties.

Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.

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