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Project Factsheet
On January 6, 2025, Lincoln Gold Mining Inc. and its wholly owned subsidiary, Lincoln Resource Group Corp. (together “Lincoln”) completed the acquisition of the Bell Mountain project from Eros Resources Corp. and its wholly owned subsidiary Bell Mountain Exploration Corp., (together “Eros”), to acquire all right, title and interest in the Bell Mountain Project located in the Fairview Mining District, Churchill County, Nevada.
Lincoln completed all regulatory requirements for the acquisition, which included completing an updated Preliminary Economic Assessment (“PEA”) for the project and submitting a financial plan for the first phase of the project’s development.
Under the terms of the purchase agreement dated November 9, 2023, Lincoln issued to Eros 3,000,000 common shares in the capital of the Company on closing of the transaction and going forward will issue an additional 1,500,000 shares within five (5) business days of the date on which Lincoln completes any future issuance of shares, the result of which there are at least 28,500,000 shares issued and outstanding. As a result of the acquisition, Eros is now an insider of the Company.
| Bell Mountain Facts | |
| Bell Mountain Facts | |
| Location | 54 miles southeast of Fallon Nevada, Fairview Mining District |
| Commodities | Gold and silver |
| Land | 1,463 hectares (3,616 acres) |
| Infrastructure | Located in a pro-mining district, good access to roads, and is topographically suitable for building heap leach pads and support facilities |
| Ownership` | 100% interest in the property |
| Deposits | Comprised of four gold-silver deposits, the Spurr, Varga, Sphinx and East Ridge deposits. Epithermal calcite/quartz veins in Tertiary tuffs with subaerial volcanic centers such as the Fairview Peak caldera |
| Status | Fully permitted advanced-stage w/ near term production |
| Drilling | 297 drill holes completed consisting of 62,303 feet of drilling by 9 different operators over a period of 29 years |
| Preliminary Economic Assessment (PEA) | Updated PEA prepared by Welsh Hagen Associates of Reno, Nevada, filed on January 6, 2025 |
| Plan | Project is for open pit mine w/ heap leach processing |
| Exploration Potential | Exploration potential exists beyond current resources in several directions, especially along the ridges that support the four deposit areas. |