Lincoln Mining Corporation
TSX VENTURE : LMG

Lincoln Mining Corporation

August 16, 2016 16:50 ET

Lincoln Mining Closes First Tranche of Private Placement of $275,000

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 16, 2016) -

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Lincoln Mining Corporation (TSX VENTURE:LMG) ("Lincoln" or the "Company") is pleased to announce that it has closed a first tranche of the previously announced $900,000 non-brokered private placement.

The Company issued a total of 2,750,000 units at a price of $0.10 per unit ("Units") for total gross proceeds of $275,000. Each Unit is comprised of one common share of the Company and one-half of one non-transferable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.12 per share until August 16, 2018.

As compensation, qualified persons acting as finders in connection with the private placement ("Finders") will receive a cash commission of 7% of the proceeds raised and non-transferable warrants ("Finder's Warrants"), having the same terms as the Warrants, equal to 7% of the total number of Units sold to persons introduced to the Company by the Finder. The Company issued a total of 157,500 Finder's Warrants and paid a total of $15,750 in cash commissions in connection with the closing of the first tranche of the private placement.

All securities issued or issuable under the first tranche of the private placement will be subject to a four month hold period in Canada expiring on December 17, 2016, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada.

Lincoln intends to use the proceeds raised from the first tranche of the private placement for general working capital and administrative purposes.

The Company is working to complete a second and final tranche of the private placement by the end of September 2016.

Lincoln Mining Corp. is a Canadian precious metals exploration and development company with two projects in various stages of exploration and development, namely the Pine Grove gold property in Nevada and the Oro Cruz gold property in California. In the United States, the Company operates under Lincoln Gold US Corp. and Lincoln Resource Group Corp., both Nevada corporations.

On behalf of Lincoln Mining Corporation

Paul Saxton, President & CEO

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

THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS OR INFORMATION. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS REGARDING THE PROPOSED PRIVATE PLACEMENT, ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. 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 AVAILABILITY OF CAPITAL AND FINANCING TO COMPLETE THE FINAL TRANCHE OF THE PROPOSED PRIVATE PLACEMENT AND MAINTAIN THE COMPANY'S PROJECTS; GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS; FLUCTUATING METAL PRICES; 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. THE COMPANY MAKES ALL REASONABLE EFFORTS TO UPDATE ITS CORPORATE MATERIAL, DOCUMENTATION AND FORWARD-LOOKING INFORMATION ON A TIMELY BASIS.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

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