Lincoln Gold zeros in on Santo Nino Zone La Bufa Property, Chihuahua, Mexico



    OTCBB: LGCPF

    VANCOUVER, June 23 /CNW/ - LINCOLN GOLD CORPORATION (OTCBB:LGCP) is
pleased to announce progress on the phase 1 drilling which is nearly completed
on the La Bufa gold-silver property (2,291 hectares) in the Guadalupe y Calvo
mining district in southwestern Chihuahua State. Twelve widely spaced angle
core holes have focused on the El Rosario gold-silver vein system which
extends southward onto the La Bufa property from the historic Rosario mine.
The exploration holes are generally 100 to 150+ meters apart and most are
drilled in two-hole "fences" at 45 degrees and 60 degrees. Drilling is
designed to determine the most favorable portions of the vein system in the
southern part of the La Bufa property. Total drilling to date is approximately
4,466 meters with hole LB-DDH-012 still in progress.
    Encouraging results have been received from over 300 meters of vein
system strike length which remains open to the northwest towards the adjacent
Rosario mine (Gammon Gold) over 400 meters away. Twelve drill holes are now
present in the Santo Nino zone. Seven holes are from Lincoln Gold's drilling
program (2008) and five holes are from a previous operator, Grid Capital
Corporation (2004). Assays are pending from holes 11 and 12. Gold-silver
mineralization occurs in steeply dipping quartz-breccia veins and stockworks
hosted in "Lower Volcanics" (tuffs) which overlie various coarse-grained
granitic basement rocks. Results to date suggest that gold-silver
mineralization occurs in the upper portion of the vein system.

    
           Results from Holes in Santo Nino Zone - South to North

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                                     From    To     Intercept  Gold   Silver
    Company  Hole No.      Angle      (m)    (m)       (m)      gpt    gpt
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Grid     GUAD04-01 -60 degrees  58.35   58.75      0.40      1.55   91.1
    -------------------------------------------------------------------------
    Capital
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Grid    GUAD04-01A -75 degrees  63.00   63.46      0.46      3.23    195
    -------------------------------------------------------------------------
    Capital                         76.49   78.15      1.66      1.56   69.8
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Grid     GUAD04-02 -70 degrees  70.96   73.20      2.24     0.410   21.0
    -------------------------------------------------------------------------
    Capital                         84.80   86.70      1.90     0.250   20.7
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Lincoln  LBDDH-008 -45 degrees 147.80  149.34      1.55     0.402   6.60
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Lincoln  LBDDH-010 -60 degrees  19.79   21.34      1.55     0.985   25.8
    -------------------------------------------------------------------------
                                   288.51  290.06      1.55     0.064   23.6
    -------------------------------------------------------------------------
    Grid     GUAD04-03 -70 degrees  64.38   66.00      1.62      9.00    447
    -------------------------------------------------------------------------
    Capital                         68.91   70.52      1.61      8.70    503
    -------------------------------------------------------------------------
                                    84.00   86.20      2.20      1.35   55.6
    -------------------------------------------------------------------------
                                    95.40   96.90      1.50      5.96   52.4
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Grid     GUAD04-04 -60 degrees  73.80   73.70      0.52      2.87    363
    -------------------------------------------------------------------------
    Capital                        107.71  108.57      0.86      2.50    109
    -------------------------------------------------------------------------
                                   121.63  122.45      0.82      1.77   80.8
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Lincoln  LBDDH-003 -45 degrees 172.22  173.72      1.50     10.70    516
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Lincoln  LBDDH-007 -60 degrees   Five   Zones   1.20 to  0.007 to 4.0 to
                                                       1.71     0.020    6.8
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Lincoln  LBDDH-001 -45 degrees  94.50   97.00      2.50      4.12    281
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Lincoln  LBDDH-011 -60 degrees Assays Pending Drill Log   Pending
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Lincoln  LBDDH-012 -45 degrees Assays Pending Drill Log   Pending
    -------------------------------------------------------------------------
    

    Once all assays and drill logs are completed, Lincoln Gold will interpret
the data and plan a phase 2 exploration program. Phase 2 will include off-set
drilling of high-grade intercepts as well as step-out drilling towards the El
Rosario mine. The company eagerly waits to initiate drilling in the
northwestern portion of the La Bufa property where past surface samples
returned assays ranging from 1.07 to 4.28 gpt gold and 186 to 838 gpt silver.
At least 4 km of potential vein system strike length are present northwest of
the Rosario mine.
    Mr. Jeffrey Wilson, the Company's Vice-President and Chief Operating
Officer and a Qualified Person under National Instrument 43-101, supervised
the preparation of this news release.
    Lincoln Gold may earn up to a 60% interest in the La Bufa property from
Almaden Minerals Ltd. by spending US$3.5 million over a 4 year period and
issuing 1,550,000 shares.

    Lincoln Gold Corp. is a Canadian gold exploration company with several
projects in various stages of exploration which includes three properties in
Nevada and the La Bufa property in Mexico.

    LINCOLN GOLD CORP.

    "Jeffrey L. Wilson"
    Vice President and COO

    This Press Release may contain, in addition, to historical information,
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These statements are based on management's expectations and
beliefs, and involve risks and uncertainties. These statements may involve
known and unknown risks and uncertainties and other factors that may cause the
actual results to be materially different from the results implied herein. Key
factors that could cause actual results to differ materially from those
described in forward-looking statements are:

    
    -   the lack of commercial mineralization on the Lincoln Gold properties.
    

    Readers are cautioned not to place undue reliance on the forward-looking
statements made in this Press Release.




For further information:

For further information: Investor Relations: (604) 688-7377,
www.lincolngold.com

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