Lincoln Gold Mining Inc. Receives Approval For Pine Grove Geotechnical Program

VANCOUVER, Feb. 22, 2022 - Lincoln Gold Mining Inc. ("Lincoln" or the "Company") (TSXV:LMG) is pleased to announce that it continues to advance its permitting approvals needed to take the projected low-cost Pine Grove Gold property to production. Further to the Company's news release of December 23, 2021, the fieldwork report on Cultural Resource Studies will be completed in March 2022. Concurrently, Lincoln submitted its geotechnical work program to the U.S. Forest Service (USFS) and approval for the work program was received on February 21, 2022. In addition, the USFS has approved and accepted the reclamation bond that the Company has put in place in order to commence the current work program and provide for any future site reclamation requirements. This approved work plan will allow Lincoln to complete the remaining field activities necessary to finalize the Environmental Impact Statement (EIS) baseline work.

Paul Saxton, President and CEO, stated that "This is a key milestone in the final push to complete the baseline EIS reports. Once the baseline work is complete, the Company and Forest Service will initiate the writing of the EIS. We have been working closely with personnel at the USFS to advance the final stages of permitting so that the project can achieve final approval which will allow for construction of the facilities followed by mining and gold production."

The few remaining baseline projects to complete include the hydrogeologic report, process area foundation geotechnical study, condemnation drilling and locating borrow pits for construction materials. The Company is in the process of reviewing bids for water well drilling. Communication with the U.S. Forest Service Bridgeport Ranger District and other stakeholders in the area is ongoing and the Company is pleased with the positive reception from the interested parties.

About Lincoln Gold Mining Inc.

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 is working with the United States Forest Service to secure the permits necessary to develop the property into a low-cost open-pit heap leach operation including a high-grade gravity circuit.

Lincoln continues the development of exploration plans for the newly acquired Shawinigan property in Quebec to evaluate the copper, nickel, and cobalt opportunities at the site. The Company has recently expanded the area of exploration to approximately 50 square kilometers.

Lincoln also owns an interest in a joint venture in respect of the Oro Cruz Gold Property in California. Lincoln's joint venture partner is advancing the Oro Cruz Gold Property towards further exploration, development, and production.

Lincoln holds its interests in the US 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.

On behalf of Lincoln Gold Mining Inc.

Paul Saxton
President and CEO, Lincoln Gold Mining Inc.
Tel: (604) 688-7377
Email: saxton@lincolnmining.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

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.

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future production of Pine Grove Gold Project, budget and timing estimates, the Company's working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company's properties, are forward-looking statements. Forward- looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Lincoln's expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Lincoln does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward- looking statements.

SOURCE: Lincoln Gold Mining Inc.