Lincoln Mining Corporation
Lincoln Mining Grants an Extension to the Due Diligence Period of the Oro Cruz Gold Project Letter Agreement
Thursday, June 27, 2019 9:30 AM
VANCOUVER, BC / ACCESSWIRE / June 27, 2019 / Lincoln Mining Corporation, TSX-V: LMG ("Lincoln" or the "Company") reports that further to the Company's news release dated March 4, 2019 announcing that pursuant to the Oro Cruz Letter Agreement ("Letter Agreement") dated February 28, 2019, the Company, through its subsidiary Lincoln Gold US Corp., granted Demerara Gold Corp. ("Demerara"), a non-reporting British Columbia company and Bell Mountain Exploration Corp. ("Bell Mountain"), a non-reporting Nevada company that is a subsidiary of Eros Resources Corp. (Eros; TSX-V: ERC), the right to enter into a formal Option and Joint Venture Agreement (the "JV Agreement") until June 30, 2019.
Lincoln, Demerara and Bell Mountain are currently in the process of developing the terms of the joint venture agreement and Lincoln has agreed to grant an extension to the due diligence period until July 31, 2019.
If the JV Agreement is exercised, it will allow Demerara and Bell Mountain together to earn up to an undivided 75% interest in the Oro Cruz gold project by funding payments to ADGIS, Inc. (the underlying property vendor), incurring the costs of ongoing property maintenance and future Oro Cruz project exploration and development (see news release dated March 4, 2019).
Lincoln Mining Corp. is a Canadian precious metals exploration and development company, with interests in the development-stage Pine Grove gold property in Nevada and the pre-development stage Oro Cruz gold property in California. In the United States, the Company operates under Lincoln Gold US Corp. and Lincoln Resource Group Corp., both are Nevada corporations. For further information, please contact Paul Saxton at 604-688-7377, or visit the Company's website at www.lincolnmining.com.
On behalf of Lincoln Mining Corporation
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 MAY INCLUDE 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 COMPANY'S 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.
SOURCE: Lincoln Mining Corporation