VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2012) - Lincoln Mining Corporation (TSX VENTURE:LMG) ("Lincoln" or the "Company") is pleased to announce that, further to its news release dated September 5, 2012, Lincoln has closed the initial private placement with Procon Mining and Tunnelling Ltd. ("Procon").
The Company issued a total of 24,000,000 shares to Procon at a price of $0.05 per share for total proceeds of $1,200,000. No warrants or finder's fees were issued in connection with the private placement.
All securities issued under the private placement are subject to a four month hold period in Canada expiring on January 14, 2013.
Lincoln intends to use the proceeds raised from the private placement towards the purchase price for the Bell Mountain acquisition (as disclosed in the September 5, 2012 news release), to advance the work programs on Lincoln's other mineral projects and for general working capital purposes.
Lincoln Mining Corp. is a Canadian precious metals exploration and development company with several projects in various stages of exploration and development which include the Pine Grove gold property in Nevada, the Oro Cruz gold property in California and the La Bufa gold-silver property in Mexico. In the United States, the Company operates under Lincoln Gold US Corp., a Nevada corporation.
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.
Contact Information:
Investor Relations
604-688-7377
604-688-7307 (FAX)
www.lincolnmining.com