Lincoln Engages Stantec Inc. as Lead Consultant for the Completion of an Environmental Impact Statement for Permitting the Pine Grove Gold Project

VANCOUVER, February 25, 2020 - Lincoln Gold Mining Inc. (Lincoln or the Company) (TSXV:LMG) announces that it has engaged Stantec Inc. of Reno, NV as lead consultant to oversee and complete the Environmental Impact Statement (EIS) for the Pine Grove Gold Project. Stantec is working closely with the United States Forest Service (USFS), the lead agency for the Pine Grove project. The USFS is an agency of the US Department of Agriculture managing about 25% of federal lands. The USFS has authorized and is directing the various studies to be conducted by Stantec that will culminate in an EIS. The EIS will be submitted for review under the National Environmental Policy Act (NEPA). Final NEPA approval is necessary for the Pine Grove project to proceed to the construction phase of an open-pit, heap leach operation and onto commercial production.

Paul Saxton, President & CEO states, "Lincoln's management is pleased that Stantec will lead the completion of the EIS alongside the USFS. Lincoln would like to thank the consultants and the USFS for their keen interest and commitment to move the Pine Grove project from exploration and development into production. As a significant amount of studies and reports have already been completed, we hope to make quick progress on this last stage of permitting for the Pine Grove Gold Project".

Stantec Inc. is an international professional services company in the design and consulting industry. Stantec provides professional consulting services in planning, engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics for infrastructure and facilities projects. The Company provides services on projects around the world through over 22,000 employees operating out of more than 410 locations in North America and across offices in 6 continents internationally.

About Lincoln Gold Mining Inc.

Lincoln Gold Mining Inc. is an advanced-stage gold mine development company holding 100% interest in the Pine Grove Gold Project, located 20 miles (32 km) south of the town of Yerington in Walker Lane structural zone of western Nevada. The Pine Grove Gold Project has a NI 43-101 complaint open pit resource. Pine Grove is now in permitting with the USFS toward a low-cost heap leach operation with a high-grade gravity circuit.

Lincoln also owns the Oro Cruz gold property in California, which has been joint ventured with a partner who is continuing to advance the project towards further exploration, development and production. Lincoln operates these projects through its wholly owned subsidiaries, Lincoln Resource Group Corp. and Lincoln Gold US Corporation, both Nevada corporations.

For more information, please contact Paul Saxton, President and CEO of the Company, at Tel: 604-688-7377 or Email: saxton@lincolnmining.com

On behalf of Lincoln Gold Mining Inc.

Paul Saxton, President and CEO
Lincoln Gold Mining Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information "and "forward looking statements" within the meaning of applicable Canadian securities laws. Such forward-looking statements include, without limitation: statements with respect to Mineral Resource estimates, the PFS, and future permitting and development activities. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would".

Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of Mineral Resources, the realization of resource estimates, gold prices, the availability of necessary financing, the timing and amount of future exploration and development expenditures, the, the progress of exploration and development activities, the receipt of necessary regulatory approvals, and assumptions with respect to environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: changes in market conditions, unsuccessful exploration results, unanticipated costs and expenses, inaccurate resource estimates, changes in the price of gold, unanticipated changes in key management personnel and general economic conditions. In addition, mining exploration and development is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Reference should be made to the Company's public filings available under its profile on www.sedar.com for further risk factors.

These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

SOURCE: Lincoln Gold Mining Inc.