A Review of Lincoln's Gold-Silver Exciting Progress in Nevada

Vancouver - Lincoln Gold Mining Inc. (TSX.V: LMG) ("Lincoln Gold" or the "Company") announced on January 6, 2025, of the completion of its acquisition of the fully permitted for production Bell Mountain Gold/Silver deposit. This major milestone provides Lincoln the ability to become an imminent gold producer. Once financing is in place, it is estimated that the time for construction of the operation will be 8 to 10 months. The first gold and silver production will be about 4 to 5 months after that.

The Company is proceeding with discussions with various financial institutions for the capital required to take Bell Mountain through construction and into startup. The intent of the Company is to raise these funds mainly through debt instruments without any significant dilution of shares.

The plan is to operate the Bell Mountain as a simple open pit/heap leach mining operation. Ore will be mined and crushed by contractors. The crushed ore will be placed on pads for heap leaching. The gold and silver will be recovered onto activated carbon and the metals will then be stripped from the carbon. The process is simple, and metallurgical studies show excellent gold recoveries.

The recently completed PEA (Preliminary Economic Assessment) commissioned by Welsh Hagen of Reno Nevada shows an excellent potential robust cash flow. A gold price of $2,200/ounce and a silver price of $24.00/ounce have been used in the base case economic evaluation from a $1,950 gold price pit shell design, (updated capital and operating costs were used).

The following table has been taken from the PEA:

1. (1) Internal Rate of Return ("IRR") is a metric used in financial analysis to estimate the profitability of potential investments. IRR is a discount rate that makes the net present value ("NPV") of all cash flows equal to zero in a discounted cash flow analysis. IRR calculations rely on the same formula as NPV does. IRR is not the actual dollar value of the project; it is the annual return that makes the NPV equal to zero. Generally speaking, the higher an internal rate of return, the more desirable an investment is to undertake.

2. (2)Chart numbers are from the PEA report of Welsh Hagen dated January 6, 2025.

3. (3)The NI 43-101 PEA report is available on SEDAR and on the Company's website.

From the chart above, excellent potential cash flow is achievable and a quick payback of capital is possible. An exploration drill program is planned near each of the pit areas where inferred material already has been shown to exist. It is expected that the resource base will increase significantly from this exploration drill program. Cash flow from the Bell Mountain mine will go towards the building of the Pine Grove mine, adding share value.

Paul Saxton, President and CEO states. "Now that Lincoln has acquired the Bell Mountain project, we are well on our way to becoming a near term gold producer. We believe that additional planned exploration work within the four defined resource deposits at the Bell Mountain operation will expand resources significantly.

In addition, the permitting studies at the Company's Pine Grove project near Yerington, Nevada will be updated. These studies will allow Lincoln to advance that property to production. The Pine Grove project, located approximately 150 miles by road to the west of Bell Mountain, has excellent upside potential. Much of the design work at Pine Grove is completed, as have the various baseline environmental studies required to complete the Environmental Impact Statement ('EIS").

Qualified Person:

Paul Saxton, P.Eng., President and CEO of the Company, is a Qualified Person as defined by NI 43-101. Mr. Saxton has reviewed and approved the technical information in this news release.

About Lincoln Gold Mining Inc.:

Lincoln is a Canadian precious metals exploration and development company headquartered in Vancouver, BC with just over twenty-two million shares issued at this time. Both the Bell Mountain and Pine Grove Gold Properties are located near each other in the highly prospective Walker Lane mineral belt, known for its numerous gold and silver deposits. Lincoln is committed to maintaining steady and robust progress towards its goal of becoming a mid-tier gold producer.

For further information, please contact:

Lincoln Gold Mining Inc.

Paul Saxton, President and Chief Executive Officer

Phone: 604-688-7377
Email: saxton@lincolnmining.com

Cautionary Note Regarding Forward-Looking Statements:

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including expectations regarding the Company's share price or any impact that marketing services may have on the business of the Company.

Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof. Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will be able to increase investor awareness because of the engagement of marketing services.

Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, 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 Company's plans or expectations include that financing is still required, the impact will be different than as currently anticipated, risks relating to the actual results of current development and or exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

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