VANCOUVER – April 29, 2020. Lincoln Gold Mining Inc. (“Lincoln” or the “Company”) (TSXV: LMG) continues unabated on its permitting efforts on its Pine Grove Gold Mine Project despite the Covid-19 pandemic. The permitting of the project in the gold rich, politically stable State of Nevada is progressing with our consultants working effectively from their home offices writing the required baseline study reports in support of the forthcoming Environmental Impact Statement (EIS). Interaction with the United States Forest Service (USFS) and the various State of Nevada agencies is taking place via teleconferencing meetings.
Paul Saxton, President of Lincoln, states “The Company believes that gold will continue to increase in price and that we are extremely pleased that our consultants have been commended by the government agencies on the fine job that they are doing in advancing the permitting for production under the present conditions.”
Our lead permitting consultant, Stantec, has informed Lincoln that the botany baseline report has been approved for the Project. Our consultants are moving on to the Biological Evaluation/Biological Assessment for sensitive plant species and plan to have that submitted by May. The Air Quality Baseline Report was submitted to the USFS in early April. Specialist Reports are the immediate precursor to National Environmental Policy Act (“NEPA”) and Stantec will begin drafting Specialist Reports once the baseline reports have been approved by the USFS.
Lincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding a 100% interest in the Pine Grove Gold Project, in the Walker Lane structural zone of western Nevada. The Company has prepared a preliminary economic assessment of the Pine Grove Gold Project pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Lincoln is working with the USFS to secure the permits necessary to develop the Pine Grove Gold Project into a low-cost heap leach operation with a high-grade gravity circuit.
Lincoln also owns an interest in a joint venture in respect of the Oro Cruz Gold Property in California. Lincoln’s joint venture partner is advancing the Oro Cruz Gold Property towards further exploration, development and production.
Lincoln holds its interests in these projects through its wholly owned subsidiaries, Lincoln Resource Group Corp. and Lincoln Gold US Corporation, both Nevada corporations.
Lincoln has 20,864,596 shares issued as of April 20, 2020.
Mr. Paul Saxton, P.Eng., the Company’s President and Chief Executive Officer and a “qualified person” under National Instrument 43-101, reviewed and approved the scientific and technical information in this news release.
For more information, please contact Paul Saxton, President and CEO of the Company.
On behalf of Lincoln Gold Mining Inc.
President and CEO, Lincoln Gold Mining Inc.
Tel: (604) 688-7377
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither 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.
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the price of gold, permitting process, future production of Pine Grove Gold Project, budget and timing estimates, the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company’s properties, are forward-looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward- looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Lincoln does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward- looking statements.