March 24, 2005
CORPORATE UPDATE
Carson City, Nevada – March 24, 2005 - LINCOLN GOLD CORP. (OTCBB: LGCP) Lincoln Gold is pleased to announce that it has completed the 2nd tranche of the previously announced private placement. Lincoln Gold Corp. has raised an additional US$ 947,400. The net proceeds from this placement will be used for ongoing gold exploration work in Nevada and for general working capital.
The Company has completed a detailed soil sampling program at the Hannah project, located 18 miles west of Gabbs in Mineral County, Nevada. The program comprised of the collection of 132 soil samples, which have been sent in for assay testing. The Company plans to release results as soon as they are available.
The Company has also staked an additional 85 new claims at the Jenny Hill project for a total of 182 claims. The Jenny Hill property lies on-trend between the Paradise Peak and Rawhide mines in a remote area of Gabbs Valley. Two styles of gold mineralization are present on the property; Carlin-type and gold skarn. Numerous samples have been collected from the property that indicate the potential for significant ore-grade gold mineralization. A partial ground magnetic survey reveals major concealed structures which possibly control gold mineralization. The Jenny Hill project has potential for bulk mineable gold mineralization and is considered one of Lincoln’s best properties. Geological mapping is currently underway at the Jenny Hill property.
Lincoln now has the financing to proceed with its plans to aggressively explore its several gold projects this year, including completion of detailed surface work, geophysical programs, rock chip sampling and drilling.
Lincoln Gold Corp. is a gold exploration company focused in Nevada with several gold exploration projects in various stages of exploration. Lincoln Gold presently owns, or has options to acquire a 100% interest in five projects in Nevada, all with potential for discovery of large gold deposits, including: Buffalo Valley, JDS, Jenny Hill, Hannah, and Lincoln Flat.
LINCOLN GOLD CORP.
/s/ "Paul Saxton"
Paul Saxton,
President
For more information contact:
Investor Relations: 800-689-1659
www.lincolngold.com
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