Lincoln Gold Mining Inc. Provides Acquisition Update and Prepares To Announce Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / March 15, 2024 / Lincoln Gold Mining Inc. ("Lincoln" or the "Company") (TSXV:LMG) is pleased to provide an update on its previously announced acquisition of the assets comprising the Bell Mountain Project located in Churchill County, Nevada (the "Transaction"). This update follows the Company's news releases dated August 10, 2023, October 27, 2023, November 6, 2023, January 5, 2024, and March 15, 2024 (the "News Releases") pertaining to the Transaction.

The Transaction is governed by a purchase agreement dated November 3, 2023, as amended on January 8, 2024, and March 15, 2024, between Lincoln Resource Group Corp., a wholly-owned subsidiary of the Company, Eros Resources Corp. ("Eros"), and Bell Mountain Exploration Corp., a wholly-owned subsidiary of Eros. The Company received conditional acceptance to complete the Transaction from the TSX Venture Exchange (the "TSXV") on November 24, 2023.

To ensure the parties have adequate time to satisfy the remaining TSXV requirements and obtain final approval, the parties have extended the outside date to complete the Transaction to May 31, 2024.

The Company is to fulfill specific conditions to secure final approval from the TSXV. These conditions include providing the TSXV with an updated Preliminary Economic Assessment (the "PEA") for the Bell Mountain Project and a financial plan which outlines the Company's anticipated expenses in the first six months following closing of the Transaction.

In order for the Company to satisfy the outstanding requirements of the TSXV, Lincoln intends to launch a private placement offering in the near future. Further details regarding the private placement will be disclosed in a subsequent announcement.

For comprehensive details on the Transaction, please refer to the Company's prior News Releases, available on SEDAR+ at www.sedarplus.ca, or www.lincolnmining.com.

About Lincoln

Lincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding a 100% interest in the Pine Grove Gold Project, in the Walker Lane structural zone of western Nevada. The Company has prepared a preliminary economic assessment of the Pine Grove Gold Project pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Lincoln holds its interests in the US projects through its wholly owned subsidiaries,

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