VANCOUVER, Oct. 21 /CNW/ - Lincoln Mining Corporation, TSX-V: LMG ("Lincoln Mining" or the "Company") is pleased to announce that it has been given permission by the State of Nevada for a 48-hole reverse-circulation drill program on the Company's Wheeler and Wilson patented claims on its Pine Grove gold property. Drilling is planned to start in early November. The Company will be selecting the drilling contractor momentarily. The goal of the drilling program is to reaffirm and expand the resource base and to upgrade the resource categories.
The drill program is expected to total between 12,000 and 14,000 feet and should be completed prior to year end. This drill program will be followed by another program on land which is under the jurisdiction of the U.S. Forest Service. This next program is expected to start in early 2010.
Gold resources (NI 43-101 compliant) in the Wheeler and Wilson deposits are estimated by MineFill Services Inc. at 6.06 million tons inferred grading 0.053 opt gold at a cutoff grade of 0.010 opt gold (assays capped at 0.500 opt gold) containing approximately 320,000 ounces gold as reported on SEDAR, January 2009.
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 Mining is pleased also to announce that it has recently launched a newly updated website at www.lincolnmining.com. The Company's current corporate presentation and fact sheet are now available, as well as more detailed project summaries supplemented with maps and photo galleries. We would like to take this opportunity to thank Blendermedia for their cooperation and assistance in developing the Company's new website.
Lincoln Mining Corp. is a Canadian precious metals exploration and development company with several projects in various stages of exploration and development which include the Pine Grove and Hannah properties in Nevada and the La Bufa property in Mexico.
On behalf of Lincoln Mining Corporation
Paul Saxton, President & CEO
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THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS OR INFORMATION. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS REGARDING FUTURE PLANS AND OBJECTIVES OF LINCOLN MINING ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANIES' PLANS OR EXPECTIONS INCLUDE AVAILABILITY OF CAPITAL AND FINANCING, GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS, REGULATORY CHANGES, TIMELINES OF GOVERNMENT OR REGULATORY APPROVLALS AND OTHER RISKS DETAILED HEREIN AND FROM TIME TO TIME IN THE FILINGS MADE BY THE COMPANY. THE COMPANY EXPRESSLY DISCLAIMS ANY INTENTION OR OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS WHETHER AS A RESULT OF ANY NEW INFORMATION, FUTURE EVENTS OR OTHERWISE REQUIRED BY APPLILCABLE SECURITIES LEGISLATION.
SOURCE LINCOLN MINING CORPORATION
For further information: For further information: Investor Relations at (604) 688-7377 or visit the Company's website at www.lincolnmining.com