Lincoln Mining Permitting Update-Nevada Operations
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 9, 2014) - Lincoln Mining Corporation (TSX VENTURE:LMG) ("Lincoln" or the "Company") announces that Stantec Consulting Services Inc. (previously JBR Environmental Consultants) has been conducting biological surveys at both of the Company's projects in Nevada - Pine Grove and Bell Mountain. Survey results will provide baseline biological data required to advance both properties to commercial production. Lincoln is also advancing a Plan of Operations with the U.S. Forest Service to conduct geotechnical work, monitor well drilling, condemnation drilling, and water well drilling.
At Pine Grove in Lyon County, mapping of rare plants and vegetation communities has been completed. Initial surveys for eagles (helicopter surveys), bats ("anabat devices"), and bi-state sage grouse have also been completed. Follow-up work by Stantec is planned as are required revisions to the Habitat Assessment. During July, the U.S. Forest Service also conducted a bat survey as part of their mine hazards program. Twenty-one abandoned adit/shaft sites were physically inspected for evidence of bats and bat habitat. Of these, at least 16 sites were recommended for closure or no action. The remainder will be closed with "bat friendly" gates or similar structures. The U.S. Forest Service will conduct the work.
The Plan of Operations for geotechnical work and drilling will require some additional cultural surveys to cover all of the areas affected. U.S. Forest Service personnel (Bridgeport Ranger Station) plan to inspect the proposed work areas in late September with Lincoln and Stantec representatives. Continued work is planned as funding becomes available.
At Bell Mountain in Churchill County, mapping of rare plants and vegetation communities has been completed. Initial surveys for eagles (helicopter surveys), bats ("anabat devices"), and other species have also been completed. Follow-up work by Stantec is planned. In July, a meeting was held with personnel from the U.S. Bureau of Land Management field office in Carson City, Nevada to review the project progress and protocols. Continued work is planned as funding becomes available.
The Company plans to develop both properties into open-pit, heap-leach mining operations.
The Company also reports that a legal claim (the "Complaint") has been issued against the Company by Laurion Mineral Exploration Inc. ("Laurion") with respect to outstanding property payments on the Bell Mountain property in Nevada in the amount of approximately $710,000 (plus interest). After some negotiation, Laurion has agreed not to take any further steps in relation to the Complaint at this time and has agreed to amend the payment schedule on the outstanding balance to $75,000 per month to the end of the year. If the full amount owing to Laurion has not been paid by the end of December 2014 then Laurion can either extend the payments to June 30, 2015 at a rate of $125,000 per month or require Lincoln to reassign its rights and interest in the Bell Mountain property to Laurion or Laurion may proceed with the legal claim for outstanding payment. Monthly payments include $25,000 extension fee.
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 and Bell Mountain gold properties in Nevada and the Oro Cruz gold property in California. In the United States, the Company operates under Lincoln Gold US Corp. and Lincoln Resource Group Corp., both Nevada corporations.
On behalf of Lincoln Mining Corp.
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 THE NEVADA OPERATIONS AND BELL MOUNTAIN PROPERTY PAYMENTS. FUTURE PLANS AND OBJECTIVES OF LINCOLN 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 COMPANY'S PLANS OR EXPECTATIONS INCLUDE AVAILABILITY OF CAPITAL AND FINANCING TO MAINTAIN THE COMPANY'S PROJECTS, GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS, FLUCTUATING METAL PRICES, 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.
