Lincoln Gold Corp.
OTC Bulletin Board : LGCP

Lincoln Gold Corp.

October 13, 2005 06:00 ET

Lincoln Gold Corp.: Corporate Update, October 13, 2005


The Company is pleased to report on its ongoing exploration activities:


Target development continues to advance at the Company's 100%-owned JDS property in the Cortez Trend at the northern end of the Simpson Park Mountains. Lincoln Gold has identified a mercury soil gas anomaly over a conspicuous gravity high with interpreted intersecting structures. Bedrock is believed to be "lower plate" carbonate rocks favorable for Carlin-type gold mineralization. Magnetic and gravity data indicate possible adjacent and underlying intrusives to the claim block. The Company is presently conducting a single, detail gravity line across the target to confirm depth to bedrock. Positive results will result in a drilling program to test the target. The property is bounded by claims controlled by Placer Dome to the west and north.

The Company has determined that follow-up drilling is warranted on its Hannah gold-silver property located just east of Reno in the southwestern portion of the Trinity Range. Two holes of a recent 11-hole program encountered encouraging intercepts in a highly oxidized and bleached fault zone cutting Triassic metavolcanics. The shallow gold-silver intercepts are on the edge of a pediment and suggest "leakage" from a possible "Sleeper-type" deposit under adjacent pediment gravels. A drill program is being planned for later in the year.

Field work is continuing on the Company's large Jenny Hill property, located in the Black Hills in Gabbs Valley, between the Paradise Peak mine and Denton-Rawhide mine. The property is being systematically explored for Carlin-type gold targets in Triassic sedimentary rocks and for gold skarn and stockwork targets. Geophysical programs have been completed and geologic mapping remains in progress. Drill targets should be identified by year end.

The Company's 7.5 square-mile Buffalo Valley property, located in the northern portion of the prolific Battle Mountain-Eureka Mineral Belt, was optioned to Agnico-Eagle this summer. Potential exists for concealed Carlin-type gold deposits and gold skarns. Newmont and Glamis/Barrick are operating nearby.

Drilling results were received from the Company's exploration program on the Lincoln Flat gold property, approximately 8 miles northwest of Yerington. Nine reverse-circulation holes were completed this summer for a total footage of 5,145 feet. Drilling was conducted to test various gold soil anomalies and geologic targets. Scattered intercepts in the order of 150 to 330 ppb gold were encountered with a high of 770 ppb gold. These results did not meet the expectations of Lincoln Gold and the property has been returned to the owner.


The Company recently entered into a joint venture for a controlling interest in the La Bufa gold-silver property located in the Guadalupe y Calvo district in the Sierra Madre Occidental of the State of Chihuahua. At least 1700 meters of vein system remains unexplored and is locally exposed at the surface on the La Bufa property. The system is comprised of multiple veins in a zone(s) up to 70+ meters wide. Access and logistics are excellent. The Company plans to compile historical data, conduct geologic mapping, and core drill across the vein system at multiple localities.


Jeffrey L. Wilson, Vice President of Exploration and COO

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. This news release may contain information about adjacent properties on which we have no right to explore or mine 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 inability of the Company to complete the acquisition of any interest in any new mineral exploration properties;

(ii) the inability of the Company to achieve the financing required to pursue the acquisition of exploration of any new mineral properties;

(iii) the inability of the Company to complete the acquisition of Lincoln Gold;

(iv) the inability of the Company to raise the financing necessary to conduct exploration of the Lincoln Gold properties; and

(v) the presence of commercial mineralization on the Lincoln Gold properties.

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

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