Lincoln Mining Closes Private Placement Of $945,000

June 14, 2011

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

Vancouver, British Columbia – Lincoln Mining Corporation, TSX-V: LMG (“Lincoln” or the “Company”) is pleased to announce that it has closed the previously announced private placement.

The Company issued a total of 5,556,177 units at a price of $0.17 per unit (“Units”) for total proceeds of $944,550. Each Unit is comprised of one common share of the Company and one half of one non-transferable common share purchase warrant. Each whole purchase warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.35 per share until June 14, 2013. Two insiders subscribed for 441,177 units for total proceeds of $75,000.

As compensation, qualified persons acting as finders in connection with the private placement (“Finders”) received a cash commission of 7% of the proceeds raised and non-transferable warrants (“Finders Warrants”) equal to 7% of the total number of Units sold to persons introduced to the Company by the Finder. Each such warrant entitles the holder to acquire one common share of the Company at a price of $0.35 per share until June 14, 2013. At the closing of the private placement, the Company issued a total of 332,500 Finders Warrants and paid a total of $56,525 in cash commissions.

All securities issued or issuable under the private placement will be subject to a four month hold period in Canada expiring October 15, 2011, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

Lincoln intends to use the proceeds raised from the private placement to advance the work programs on its mineral projects and for general working capital and administrative purposes.

The Company also advises that drilling will commence within the next three weeks at La Bufa, and at the Oro Cruz project later this year. Four million dollars has already been committed to these programs as a result of the agreement with Elgin Mining Inc. which was announced on March 31, 2011. 

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.

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  

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. 

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 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 COMPANY'S PLANS OR EXPECTATIONS INCLUDE ACTUAL EXPLORATION RESULTS, PROJECT DELAYS, AVAILABILITY OF EQUIPMENT AND PERSONNEL, 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.