NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / September 11, 2024 / Lincoln Gold Mining Inc. (TSXV:LMG, Financial) ("Lincoln Gold" or the "Company") is pleased to announce that 857,143 warrants have been exercised by certain investors as a result of positive developments in the Company's recent activities. The warrants were priced at $0.35 and set to expire by June 27, 2026. This results in proceeds of $300,000.00. The Company currently has a total of 10,809,425 warrants outstanding, priced at $0.35 and $0.50, expiring on various dates in 2025 and 2026.
Lincoln Gold plans to use these funds to further develop the Pine Grove gold project. As a part of this development, Lincoln is preparing to initiate a geophysical flyover in the near future and is currently reviewing proposals from several companies for this important work. The information gained from this airborne geophysical work will help the Company's geologists formulate drill programs for the specific rock types at depth that are known to host gold mineralization. This work represents an important step in advancing the Pine Grove project toward its full potential.
Paul Saxton, President and CEO of Lincoln Gold Mining Inc., stated, "The exercise of these warrants reflects strong confidence in Lincoln's vision and strategy. This funding will be instrumental in advancing Pine Grove, our flagship gold project. While we are working to complete the necessary steps with the TSXV to close the Bell Mountain acquisition, we remain focused on driving progress at Pine Grove. In addition, the aggregate value of the outstanding warrants exceeds $4,000,000 representing a good source of potential future funding. This funding mechanism may allow Lincoln Gold to further advance its key project without requiring immediate external financing."
Lincoln Gold is committed to advancing its strategy to achieve near-term gold production and maximize value for its shareholders.
About Lincoln Gold Mining Inc.:
Lincoln is a Canadian precious metals exploration and development company headquartered in Vancouver, BC. Lincoln holds 100% interest in Pine Grove gold project located in Nevada, US, renowned for its mining-friendly regulations. Lincoln received conditional approval from the TSXV on its acquisition of the Bell Mountain from Eros Resources Corp. The anticipated completion of this transaction will mark a pivotal moment for Lincoln, enabling a potent operational synergy between these two properties. Lincoln is committed to maintaining steady and robust progress towards its goal of becoming a mid-tier gold producer.
For further information, please contact:
Lincoln Gold Mining Inc.
Paul Saxton, President and Chief Executive Officer
Phone: 604-688-7377
Email: [email protected]
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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including expectations regarding the Company's use of the proceeds from the exercise of the warrants, impact of the funding on the Company's business and impact of the geophysical on the Company's exploration and development programs.
Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will use the proceeds from exercise of the warrants as anticipated by management and that the geophysical work will have the intended impact on the Company's drill programs.
Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions 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 risks that the Company is not able to use the proceeds from the exercise of the warrants as anticipated by management, and risks that the proposed geophysical work will not have the intended impact as anticipated by management.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
SOURCE: Lincoln Gold Mining Inc.
