Lincoln Mining Corporation
TSX VENTURE : LMG

Lincoln Mining Corporation

December 19, 2012 13:04 ET

Lincoln Mining Files Bell Mountain Technical Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2012) - Lincoln Mining Corporation (TSX VENTURE:LMG) ("Lincoln" or the "Company") announces that further to its news release dated September 5, 2012 describing the terms of the Bell Mountain acquisition, it has filed a technical report dated December 18, 2012 entitled "Amended and Restated NI 43-101 Technical Report for the Bell Mountain Project, Churchill County, Nevada" prepared by Telesto Nevada Inc. (the "Technical Report"), in accordance with the requirements of National Instrument 43-101 ("NI 43-101").

The mineral resource in the Technical Report contains no material differences from the mineral resource estimate on the Bell Mountain project disclosed in the Company's news release of September 5, 2012. A summary of the mineral resource estimate in the Technical Report is described below:

Table 1 - Global Bell Mountain Resource Estimate as at May 3, 2011

Category

Tonnage
('000
Tonnes)
Average
Gold
Grade
(g/Tonne)

Gold
(grams)

Gold
(ozs)
Average
Silver
Grade
(g/Tonne)

Silver
(grams)

Silver
(ozs)
Total
Equivalent
Ounces
Of Gold
Measured 5,952 0.531 3,158,063 101,534 16.62 98,913,080 3,180,127 159,355
Indicated 3,810 0.518 1,974,575 63,484 19.22 73,210,796 2,353,780 106,280
Total Measured and Indicated
9,761

0.526

5,132,638

165,018

17.63

172,123,876

5,533,907

265,635
Inferred 2,046 0.449 919,108 29,550 13.26 27,135,036 872,411 45,412

Notes:

  1. Rounding of tons as required by Form 43‐101F1 reporting guidelines (Item 19) results in apparent differences between tons, grade and contained ounces in the mineral resource.
  2. Mineral Resources are estimated at a cutoff Grade at 0.192 g/t AuEq.
  3. The assumed parameters used for establishing a cut‐off grade is identified as follows:
  • Gold Price ‐ $1,149.89/oz (US) ‐ 60% 3‐year previous average/40% 2‐year forward (Dec. 31, 2010)
  • Silver Price ‐ $20.92/oz US ‐ 60% 3‐year previous average/40% 2‐year forward (Dec. 31, 2010)
  • Recovery ‐ Gold 80%, Silver 51%
  • Total Operating Costs ‐ $11.43/ton (mining, processing and G&A)
  • Gold Equivalent Ratio ‐ 55 to 1

Please refer to the Technical Report, which is available under the Company's profile at www.sedar.com, for further details.

Mr. Jeffrey Wilson, the Company's Vice President Exploration and a "qualified person" under NI 43-101, reviewed and approved the scientific and technical information contained in this news release.

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 and the Bell Mountain gold properties 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 its Nevada subsidiaries, Lincoln Gold US Corp. and Lincoln Resource Group Corp.

On behalf of Lincoln Mining Corporation

Paul Saxton, President & CEO

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 MINERAL RESOURCE ESTIMATES ON THE BELL MOUNTAIN PROJECT 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 THE RISK THAT ACTUAL RESULTS OF FUTURE EXPLORATION WORK, INCLUDING DRILL RESULTS AND RESULTS OF ENGINEERING, METALLURGICAL AND PRE-FEASIBILTY STUDIES, WILL NOT SUPPORT THE COMPANY'S PLANS TO ADVANCE ITS BELL MOUNTAIN PROJECT; THE UNCERTAINTY OF THE GEOLOGY, GRADE AND CONTINUITY OF MINERAL DEPOSITS ON THE BELL MOUNTAIN PROPERTY AND THE RISK OF UNEXPECTED VARIATIONS IN MINERAL RESOURCES, GRADE AND/OR RECOVERY RATES; COST OVERRUNS AND PROJECT DELAYS; AVAILABILITY OF ADDITIONAL CAPITAL AND FINANCING REQUIRED TO ADVANCE THE COMPANY'S MINERAL PROJECTS; GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS; FLUCTUATING METAL PRICES; REGULATORY CHANGES; TIMELINES OF GOVERNMENT OR REGULATORY APPROVALS AND OTHER RISKS DETAILED HEREIN, IN THE TECHNICAL REPORT 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.

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.

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