August 4, 2004
LINCOLN GOLD INCREASES CORTEZ TREND CLAIM GROUP
CARSON CITY, NEVADA - August 4, 2004 - LINCOLN GOLD CORP. (OTCBB:LGCP) is pleased to announce that it has staked an additional 45 lode claims at its JDS property in Pine Valley, Eureka County, Nevada. The JDS property now consists of 77 claims comprising 1540 acres (2.4 sq miles) and adjoins both south and east of Placer Dome's active Red Hill Project area.
The JDS property lies in the prolific Cortez Trend of the Battle Mountain - Eureka gold belt, approximately 10 miles east of the Cortez Joint Venture's ET Blue Project. The Cortez trend has become one of the most active and prospective exploration areas in Nevada with the recent discovery of the Cortez Hills deposit. The JDS claims were staked in alluvial cover over gravity highs. Interpretation of the gravity data suggests that bedrock is relatively shallow. Several prominent structural features are also expressed in the gravity data. The JDS claims are adjacent to the JD window that exposes lower plate carbonate rocks that are favorable hosts for Carlin-type deposits.
During the past 18 months, the Horse Canyon Valley-Pine Valley area has been the site of a staking rush. Placer Dome, the Cortez Joint Venture, Idaho Resources, and Nevada North Resources have staked in excess of 2,200 lode mining claims, and farther south Newmont has recently staked another 2100 claims. All of the Idaho Resource claims have been leased to either Placer Dome or the Cortez Joint Venture. Almost all of the Horse Canyon Valley-Pine Valley has been claimed. The JDS claims represent some of the last remaining shallow targets where underlying bedrock is likely lower-plate carbonates.
The recent Cortez Hills discovery made by the Cortez Joint Venture ("CJV" - Placer Dome 60% and Kennecott Minerals 40%) validates the importance and potential of this area. At a recent meeting of the Geological Society of Nevada a representative of the CJV announced that a recent drill hole had assayed 1.5 ounces gold per ton over an interval of greater than 400 feet. Current resources at Cortez Hills, as announced by Placer Dome, the joint venture operator, stand at 6.8 million ounces.
The JDS property represents a promising exploration play with the potential of discovering a Carlin-type deposit under the pediment in Pine Valley. The Horse Canyon Valley-Pine Valley area represents a geologic setting similar to Crescent Valley which hosts the Pipeline-Cortez mine complexes. The recent discovery at Cortez Hills demonstrates that major gold deposits remain to be found in the southern extension of the Crescent Valley mineralized belt.
Lincoln Gold Corp. is a gold exploration company focused in Nevada, with several gold exploration projects in various stages of exploration and development. For more information, visit the Company's web site at www.lincolngold.com or call Barry Forward, Investor Relations, at 1-800-689-1659.
LINCOLN GOLD CORP.
/s/ "Jeffrey Wilson"
Jeffrey L. Wilson,
V.P. Exploration and COO
For more information contact:
Investor Relations: 800-689-1659
www.lincolngold.com
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