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Lincoln Mining Announces Pine Grove Drill Results


February 3, 2010

The Pine Grove is Lincoln’s flagship property where production is planned to take place in late 2011 as an open pit heap/leach operation.  Lincoln Mining Corporation, TSX-V: LMG (“Lincoln” or the “Company”) is pleased to announce that it has received the first set of assays from the 50 to 55 confirmation drill hole program required for a new resource calculation which is designed to potentially upgrade the category of the resources on the property.  This is all part of the scoping and feasibility studies now underway.  The drilling is being carried out on the two patented claim areas, the Wilson and the Wheeler which form part of the property.  The holes reported here are only from drilling on the Wilson area of the property.   No ‘new area’ exploration drilling was included in this program, which is designed solely to reaffirm and potentially upgrade the gold resources outlined by a 160 hole program conducted by Teck Resources Ltd. in the early 1990’s.  The resources derived from this earlier drilling are designated as “inferred” because the work was carried out before NI 43-101 guidelines were in place. The new intersections will be included with the previous drilling by Teck to produce an updated resource calculation.  A total of 15,000 feet of drilling is planned on the Wilson and Wheeler areas during this program.

Additional exploration drilling programs, designed to increase the size of the resource base, are being planned for later in the year to test numerous prospective areas on the Pine Grove property.  Permitting for these programs is in progress under the jurisdiction of the US Forestry Service. 

Intersections of Significance

Because of the number of intersections in the drilling we have listed only those over 5 feet in length and having a grade of greater than 0.7 grams per tonne.  The full range of drill results will be posted on our website www.lincolnmining.com.  These holes are from the Wilson property; drilling is now starting on the Wheeler where in the past higher grades were reported. 

Drill Hole From 
(ft)
To
(ft)
Intersection
(ft)
Grams per tonne      
(g/t)
63 180 195 15 2.98
63 255 270 15 0.89
63 290 305 15 0.93
         
64 220 235 15 4.97
64 310 315 5 0.72
         
65 65 100 35 1.30
65 225 230 5 0.89
         
66 140 165 25 2.13
         
67 75 80 5 3.29
67 90 110 20 0.82
67 140 145 5 1.65
         
68 180 200 20 4.22
68 250 265 15 1.27
   >      
71 285 315 30 1.13
         
72 230 235 5 1.03
         
73 10 25 15 0.93
73 125 130 5 1.27
         
74 180 190 10 2.91
         
75 150 165 15 1.52
         
76 215 225 10 1.47
         
77 175 180 5 1.95
         
79 110 115 5 1.89
         
80 180 185 5 2.13
80 200 205 5 17.80
80 215 220 5 13.20
         
82 25 30 5 0.72
         
83 75 80 5 2.85
83 255 270 15 2.02
         
84 130 140 10 0.82
84 180 190 10 1.99
         
85 155 165 10 4.80
85 205 210 5 0.82
         
86 5 15 10 0.72
86 95 100 5 0.96
         
88 60 80 20 0.72
88 130 135 5 1.10
         
89 5 25 20 1.92
89 45 50 5 0.45
89 110 120 10 1.23
89 150 155 5 1.06
89 180 190 10 14.61
         
90 90 100 10 0.70
         
91 140 150 10 1.30
         
92 80 100 20 1.23
92 110 140 30 1.58
         
93 65 85 20 0.79
93 90 100 10 1.17
         
94 125 130 5 3.26
         
95 15 20 5 2.98
96 10 15 5 1.06
96 70 75 5 0.75

Mr. Jeffrey Wilson, the Company’s Vice President Exploration and a Qualified Person under National Instrument 43-101, supervised the preparation of this news release.  Diversified Drilling LLC, is the Company’s drilling contractor and assaying is being done at Chemex Labs in Nevada.

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, 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 and in Mexico as Minera Lincoln de Mexico S.A. de C.V.

For further information, please contact Investor Relations at 604-688-7377 or visit the Company’s website at www.lincolnmining.com.      

On behalf of Lincoln Mining Corporation  

“Paul Saxton”  

Paul Saxton, President & CEO  

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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 FUTURE PLANS AND OBJECTIVES OF LINCOLN MINING 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 COMPANIES’ PLANS OR EXPECTATIONS INCLUDE AVAILABILITY OF CAPITAL AND FINANCING, GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS, REGULATORY CHANGES, TIMELINES 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.