Pine Grove Gold Project Permitting Progress

VANCOUVER - Lincoln Gold Mining Inc. reported on the permitting progress at the Pine Grove Gold Project, in Nevada. The Company has acquired an insurance provider to manage the surety bond process that is required for reclamation disturbance on U.S. Forest Service Lands. The initial bond will be associated with drilling water wells, waste rock and process areas condemnation drilling, geotechnical test pits and borings in the proposed plant and heap leach pad areas, and then later with the full mining and heap leach process disturbances. Water well drilling is the last piece of major site work that is needed to be carried out for the overall Environmental Impact Statement ("EIS") report that is critical to advancing the project to production.

For the past six months, Lincoln's consultants have studied the anthropological, archeological, and community impacts of the Pine Grove Gold Project and their field work is now complete. The reports on the field work will be included in the EIS report. Community Relations is an ongoing process through the life of the mine and beyond. Lincoln firmly believes in the importance of community involvement in the project from start to finish and the wise use of the land for all groups that use this area for mining, ranching and recreation.

The Company has completed its core drilling activities on the Wilson claims. A total of 5 holes were drilled for a total of 1,114 feet. The two presently known resource areas (Wheeler and Wilson) are shallow with low strip ratios averaging 2.3:1 waste to ore ratio. This allows for shallow drilling of 300 feet or less. Most drilling on the property in the past was carried out by reverse circulation drilling. The core hole work will give Lincoln added information on the rock structure and other lithographic details. The five core holes that were drilled on the Wilson deposit will be very helpful in determining alteration and structural controls for gold mineralization vital for future resource expansion exploration. The three holes that were collared next to existing RC holes will provide a look at structural, alteration and style of gold mineralization, including quartz-sulfide veining with associated trace copper in known ore zones, as seen in the RC drilling.

Water well drilling is expected to start later in January and will continue for a few weeks. Ongoing community consultation will continue with local groups impacted by the project. Core from the recent drilling will be photographed, cut and sampled during January at Lincoln's warehouse in Yerington. Samples will then be submitted to ALS Minerals for gold and copper analysis. Sample preparation and analytical methods will use the same methodology and quality control procedures as all previous drill samples. Most importantly, in the first 3 to 4 months of 2022, the lead consultant on the project, Stantec Inc. of Reno, will take on the major task of compiling all studies and reports. This work will result in the production of the final EIS report. It is expected that this will take 3 to 4 months so that the report can be issued in the first part of the second quarter of 2022.