|Lincoln Mining Corporation
TSX VENTURE : LMG
June 07, 2016 09:00 ET
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 7, 2016) – Lincoln Mining Corporation (TSX VENTURE:LMG) (“Lincoln” or the “Company”) announces that Goldcliff Resources (US) Inc., a wholly owned subsidiary of Goldcliff Resource Corporation, (“Goldcliff”) has acquired the lease on the eight patented claims that were held by Lincoln, classified by Lincoln as the Wilson claims, from Lyon Grove LLP of Reno, NV. Goldcliff has made or will make an upfront payment to Lyon Grove of $61,729.84 (US) and will assume the yearly rental payments under the lease. Lincoln was not able to make the yearly annual payments to Lyon Grove on the property. Lincoln retains its interest in the remaining claims including the four Wheeler patented mining claims, and 243 unpatented mining claims (lode, placer and millsite) that surround the Wilson patented claims.
It is the intent of both Lincoln and Goldcliff US to work together to develop the Pine Grove project. In that regard the two companies are in discussions about jointly advancing the project. Paul Saxton is a director of both Lincoln Mining Corporation and Goldcliff Resources Corporation.
Lincoln Mining Corp. is a Canadian precious metals exploration and development company with projects in various stages of exploration and development that include the Pine Grove gold property 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 Corporation
Paul Saxton, President & CEO
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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 STATUS OF THE PROPERTIES 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; TIMELINESS 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.