December 14, 2005
CORPORATE UPDATE
Carson City, Nevada - December 14, 2005 - LINCOLN GOLD CORP. (OTCBB: LGCP)
Kinross Gold Signs Letter of Intent to Joint Venture Lincoln Gold�s Jenny Hill Gold Property in Nevada
LINCOLN GOLD CORPORATION (OTCBB:LGCP) is pleased to announce that it has signed a Letter of Intent to Joint Venture its Jenny Hill gold property with Kinross Gold Corporation (�Kinross�). The early-stage exploration property (3,640 acres) is located in the Walker Lane in western Nevada and is situated almost exactly between two past gold-silver mines, Paradise Peak (1.5 MM ounces Gold + 50 MM ounces Silver) and Denton-Rawhide (1.7 MM ounces Gold + 17.5�MM ounces Silver). Surface exploration at Jenny Hill indicates potential for scarn and Carlin-type gold mineralization hosted in Mesozoic sedimentary rocks. The property has never been drilled.
Under the terms of the Letter of Intent, Kinross may earn a 60% interest in the Jenny Hill property by spending US$3 million over five years and is committed to spending a minimum of US$200,000 in the first year. Once Kinross has earned 60%, it may earn an additional 10% by preparing a feasibility study for the development of a mine on the property. If the Joint Venture elects to commence mine development, Kinross may help arrange financing on behalf of Lincoln for an additional 5% interest. Under these terms, Kinross may ultimately earn 75% and Lincoln hold 25% in the Joint Venture.
Kinross is the fourth largest primary gold producer in North America, and the eighth largest in the world. Kinross currently has interests in 10 producing mines with particular focus on North and South America. Annual equivalent gold production is expected to be approximately 1.6 million ounces in 2005. Kinross shares are listed on the New York Stock Exchange (NYSE-KGC) and the Toronto Stock Exchange (TSE-K). Lincoln Gold Corporation is pleased to have Kinross as a partner on the Jenny Hill gold property.
LINCOLN GOLD CORP.
"Jeffrey L. Wilson"
Vice President of Exploration and COO
For more information contact:
Investor Relations: 800-689-1659 or [email protected]
www.lincolngold.com
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