Lincoln Mining announces Pine Grove drill results

News provided by

Lincoln Mining Corporation

Feb 03, 2010, 13:23 ET

VANCOUVER , Feb. 3 /CNW/ - The Pine Grove is Lincoln's flagship property where production is planned to take place in late 2011 as an open pit heap/leach operation. Lincoln Mining Corporation, TSX-V: LMG ("Lincoln" or the "Company") is pleased to announce that it has received the first set of assays from the 50 to 55 confirmation drill hole program required for a new resource calculation which is designed to potentially upgrade the category of the resources on the property. This is all part of the scoping and feasibility studies now underway. The drilling is being carried out on the two patented claim areas, the Wilson and the Wheeler which form part of the property. The holes reported here are only from drilling on the Wilson area of the property. No 'new area' exploration drilling was included in this program, which is designed solely to reaffirm and potentially upgrade the gold resources outlined by a 160 hole program conducted by Teck Resources Ltd. in the early 1990's. The resources derived from this earlier drilling are designated as "inferred" because the work was carried out before NI 43-101 guidelines were in place. The new intersections will be included with the previous drilling by Teck to produce an updated resource calculation. A total of 15,000 feet of drilling is planned on the Wilson and Wheeler areas during this program.

Additional exploration drilling programs, designed to increase the size of the resource base, are being planned for later in the year to test numerous prospective areas on the Pine Grove property. Permitting for these programs is in progress under the jurisdiction of the US Forestry Service.

Intersections of Significance

Because of the number of intersections in the drilling we have listed only those over 5 feet in length and having a grade of greater than 0.7 grams per tonne. The full range of drill results will be posted on our website www.lincolnmining.com. These holes are from the Wilson property; drilling is now starting on the Wheeler where in the past higher grades were reported.

    
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     Drill Hole        From           To      Intersection   Grams per tonne
                       (ft)          (ft)         (ft)            (g/t)
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         63             180           195          15              2.98
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         63             255           270          15              0.89
    -------------------------------------------------------------------------
         63             290           305          15              0.93
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    -------------------------------------------------------------------------
         64             220           235          15              4.97
    -------------------------------------------------------------------------
         64             310           315          15              0.72
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         65              65           100          35              1.30
    -------------------------------------------------------------------------
         65             225           230           5              0.89
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         66             140           165          25              2.13
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         67              75            80           5              3.29
    -------------------------------------------------------------------------
         67              90           110          20              0.82
    -------------------------------------------------------------------------
         67             140           145           5              1.65
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         68             120           200          20              4.22
    -------------------------------------------------------------------------
         68             250           265          15              1.27
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         71             285           315          30              1.13
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         72             230           235           5              1.03
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         73              10            25          15              0.93
    -------------------------------------------------------------------------
         73             125           130           5              1.27
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         74             180           190          10              2.91
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         75             150           165          15              1.52
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         76             215           225          10              1.47
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         77             175           180           5              1.95
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         79             110           115           5              1.89
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         80             180           185           5              2.13
    -------------------------------------------------------------------------
         80             200           205           5             17.80
    -------------------------------------------------------------------------
         80             215           220           5             13.20
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         82              25            30           5              0.72
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         83              75            80           5              2.85
    -------------------------------------------------------------------------
         83             255           270          15              2.02
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         84             130           140          10              0.82
    -------------------------------------------------------------------------
         84             180           190          10              1.99
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         85             155           165          10              4.80
    -------------------------------------------------------------------------
         85             205           210           5              0.82
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         86               5            15          10              0.72
    -------------------------------------------------------------------------
         86              95           100           5              0.96
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         88              60            80          20              0.72
    -------------------------------------------------------------------------
         88             130           135           5              1.10
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         89               5            25          20              1.92
    -------------------------------------------------------------------------
         89              45            50           5              0.45
    -------------------------------------------------------------------------
         89             110           120          10              1.23
    -------------------------------------------------------------------------
         89             150           155           5              1.06
    -------------------------------------------------------------------------
         89             180           190          10             14.61
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         90              90           100          10              0.70
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         91             140           150          10              1.30
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         92              80           100          20              1.23
    -------------------------------------------------------------------------
         92             110           140          30              1.58
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         93              65            85          20              0.79
    -------------------------------------------------------------------------
         93              90           100          10              1.17
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         94             125           130           5              3.26
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
         95              15            20           5              2.98
    -------------------------------------------------------------------------
         96              10            15           5              1.06
    -------------------------------------------------------------------------
         96              70            75           5              0.75
    -------------------------------------------------------------------------

Mr. Jeffrey Wilson , the Company's Vice President Exploration and a Qualified Person under National Instrument 43-101, supervised the preparation of this news release. Diversified Drilling LLC, is the Company's drilling contractor and assaying is being done at Chemex Labs in Nevada.

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 gold property, the Oro Cruz gold property in California and the La Bufa gold-silver property in Mexico . In the United States , the Company operates under Lincoln Gold US Corp., a Nevada corporation and in Mexico as Minera Lincoln de Mexico S.A. de C.V.

On behalf of Lincoln Mining Corporation

" Paul Saxton "

Paul Saxton , President & CEO

NEITHER THE 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.

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 EXPECTATIONS INCLUDE AVAILABILITY OF CAPITAL AND FINANCING, GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS, REGULATORY CHANGES, TIMELINES OF GOVERNMENT OR REGULATORY APPROVALS AND OTHER RISKS DETAILED HEREIN AND FROM TIME TO TIME IN THE FILINGS MADE BY THE COMPANY. THE COMPANY MAKES ALL REASONABLE EFFORTS TO UPDATE ITS CORPORATE MATERIAL, DOCUMENTATION AND FORWARD-LOOKING INFORMATION ON A TIMELY BASIS.

For further information: Investor Relations at (604) 688-7377 or visit the Company's website at www.lincolnmining.com

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Lincoln Mining Corporation