July 28, 2004
LINCOLN SIGNS AGREEMENT ON BUFFALO VALLEY PROPERTY
CARSON CITY, NEVADA - July 28, 2004 - LINCOLN GOLD CORP. (OTCBB:LGCP) is pleased to announce that it has signed a Binding Letter Agreement with Nevada North Resources (U.S.A.), Inc. for a 20-year mining lease on their SW Buffalo Valley property located in Pershing, Lander, and Humboldt Counties, Nevada. The property consists of 7.5 square miles (268 lode claims) in alternating sections within the northern portion of the Battle Mountain-Eureka gold trend. Newmont Mining and Barrick, some of North America’s largest gold producers, surround the property.
Lincoln is extremely pleased with the large land acquisition within this productive portion of the Battle Mountain district. Exploration targets are high-grade, bulk-tonnage, gold mineralization in skarn-hosted and/or distal disseminated silver-gold deposits. Fortitude, Minnie-Tomboy and Converse-Redline are examples of nearby skarn-hosted deposits. Lone Tree, Marigold, Trenton Canyon and Cove-McCoy are examples of nearby distal disseminated silver-gold deposits. Past exploration work on the SW Buffalo Valley property has included geophysics, geochemistry, and 20,000 feet of drilling by AngloGold. Multiple, untested drill targets are present.
Lincoln is committed to pay $30,000 in advance royalties to Nevada North for the first two years followed by $40,000 in year three and escalating to $80,000 per year plus a cost-of-living increase by year 10. In addition, Nevada North will be paid a Net Smelter Return royalty on production ranging from 3% to 5% per year depending on the price of gold. The production royalty can be reduced by two percent (2%) on a buyback provision of $1 million per percentage point.
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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