Lincoln Gold Announces Acquisition of Additional Mineral Claims in the Pine Grove District of Nevada
30 November 2007 - 3:13AM
Marketwired
CARSON CITY, NEVADA is pleased to announce that it has reached
an agreement with Mr. Wallace Cavanaugh of Crown Development and
Mining Co. to acquire certain claims in the Pine Grove area of
Nevada. Subject to signing a definitive agreement, Crown
Development will sell to Lincoln all its mineral rights, placer
rights, water rights and permits relating to development and
exploration in the area. Lincoln has agreed to pay $1 million over
a 5 year period for these rights. Upon conclusion of this
acquisition, the Company will have consolidated all the ground in
the Pine Grove area which will allow it to proceed with its planned
drill program and scoping study on the project. See News Release of
October 18, 2007.
The Company is also pleased to announce that it has signed an
agreement with Energold Drilling Corp. of Vancouver to drill the La
Bufa project in Chihuahua State, Mexico starting in late January
2008. The Company has planned a 4000 to 5000 meter program to begin
its exploration program on the property which it has under option
from Almaden Minerals. The Company has placed a $30,000 retainer
with Energold to secure the drill for this period. Another $70,000
is due early in December.
Lincoln Gold Corp. is a US-based gold exploration company
located in Nevada with several projects in various stages of
exploration which includes three properties in Nevada and the La
Bufa property in Mexico.
LINCOLN GOLD CORP.
Paul F. Saxton, President
This Press Release may contain, in addition, to historical
information, forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements are based on management's expectations and beliefs, and
involve risks and uncertainties. These statements may involve known
and unknown risks and uncertainties and other factors that may
cause the actual results to be materially different from the
results implied herein. Key factors that could cause actual results
to differ materially from those described in forward-looking
statements are:
(i) the results of the NI 43-101 report on the Pine Gove
properties may be different than anticipated;
(ii) the inability of the Company to achieve the financing
required to pursue the exploration of the Pine Grove
properties;
(iii) the results of exploration of the Pine Grove
properties;
(iv) the lack of commercial mineralization on the Pine Gove
properties; and
(v) the inability of the Company to sign a definitive agreement
for the acquisition of claims from Crown Development.
Readers are cautioned not to place undue reliance on the
forward-looking statements made in this Press Release.
Contacts: Lincoln Gold Corp. Investor Relations (604) 688-7377
Website: www.lincolngold.com
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