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Lincoln is an exploration stage company engaged in the acquisition, exploration and development of mineral properties in the states of Nevada and California, United States and Mexico. Exploration activities have resulted in the acquisition of three important projects, the Pine Grove Property in Nevada, U.S.A., the Oro Cruz Property in California, U.S.A. and the La Bufa Property in Chihuahua, Mexico.
The Lincoln Mining Corporation website is at www.lincolnmining.com.
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This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-05-11.
The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.
| General Metric | Value on 2013-05-22 |
|---|---|
| In Situ Metal Value per Share (MVpSh) | US$5.58 |
| Average Ore Value per Tonne | US$39.73 |
| Metal Value Leverage (MVL) | -no stock price- |
| Market Capitalization as a Percentage of Metal Value | - price unavailable |
| Recent Closing Stock Price | C$ [note 1] |
| Fully Diluted Share Count | 115.76 M [note 2] |
| Percentage In Situ Proven + Probable Reserve | 0% |
| Percentage In Situ Measured + Indicated Resource | 41% |
| Percentage In Situ Inferred Resource | 59% |
| Metric | Value on 2013-05-22 |
|---|---|
| Gold Reserves + Resources | 473.21 K oz |
| Average Gold Ore Grade | 1.1 g/t |
| Market Capitalization per oz of Gold In Situ | US$0.00 ( C$0.00 ) |
| Gold Equivalent Ounces Estimate | 473.21 K oz |
| Market Capitalization per oz of Gold Equivalent | US$0.00 ( C$0.00 ) |
Note 1: Conversion rate used: 1 Cnd$ = 0.964053 US$
Note 2: Fully diluted share count based on the Share Structure webpage (viewed online May 2011).
All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.
| Metric / Metal | Gold | ||
|---|---|---|---|
| Total Counts (reserves + resources) | 473.21 K oz | ||
| Metal Prices in US$ (from 2013-05-22) | $1,364.80 / oz | ||
| Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count | $5.58 | ||
| Percentage of Total Metal Value | 100.00% | ||
| Metal Value Percentage Proven + Probable | 0% | ||
| Metal Value Percentage Measured + Indicated | 41% | ||
| Metal Value Percentage Inferred | 59% | ||
The above metal value totals derive from the following projects.
| Project | Location | Metal Value per share (% total) | Average Ore Value US$/t | Gold | PP% | MI% | I% |
|---|---|---|---|---|---|---|---|
| Pine Grove | Nevada, USA | $3.98 ( 71.4% ) | US$31.79 | 337.83 K oz | 0 | 58% | 42% |
| Oro Cruz | California, USA | $1.60 ( 28.6% ) | US$105.31 | 135.38 K oz | 0 | 0 | 100% |
| La Bufa | Chihuahua, Mexico | $0.00 ( 0.0% ) | 0 | 0 | 0 |
PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors
At present, the La Bufa Property does not contain any mineralization that could be quantified as a mineral resource. Work on the property is at an early stage and Lincoln Gold is in the process of evaluating drill results from the recently completed first phase drilling in the southern area of the La Bufa concession.[Source: NI43-101 Report dated January 2009]
Latest NI43-101 Report: cutAndPasteExactTitleOfTheReportHere
2009-01-05 (431 pages).
Project Location: Chihuahua, Mexico.
At the Oro Cruz property Lincoln contracted Atkinson Underground LP of Golden, Colorado to open and inspect the underground decline and ventilation shaft system. The inspection has been completed and Atkinson reports that the decline is in good condition and the mine air is excellent. The air and water lines appear to be in usable condition. Company geologists are taking rock grab samples from various parts of the underground workings as well as in the open pit area. Tetra Tech of Golden, Colorado has been hired to complete a NI 43-101 compliant historic resource calculation using all the assay data from the 400 plus holes drilled in the past. A large scale exploration program is planned for later in 2010..[Source: News Release dated March 22, 2010]
May 2011 Update: Ownership has been reduced to 40% based on the JV deal setup with Elgin Mining. See "Amended and Restated Oro Cruz Gold Project Resource Estimate Imperial County, California, USA", April 2011 which details:
This amended and restated Technical Report was prepared for Lincoln Mining Corporation and Elgin Mining Inc. (Elgin) in conjunction with a transaction involving a letter agreement between Lincoln and Elgin dated March 31, 2011 granting Elgin the exclusive right and option to acquire up to a 60% undivided interest in the Oro Cruz Property from Lincoln.
Latest NI43-101 Report: Amended and Restated
Oro Cruz Gold Project Resource Estimate
Imperial County, California, USA
2011-04-29 (121 pages).
Project Location: California, USA.
Average Ore Value (all estimate types): US$105.31
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $1.60 | 135.38 K oz | 2.400 g/t | 4.39 M t |
Estimate notes: See TABLE 1-3: Resource Summary Table LINCOLN GOLD US CORP. – ORO CRUZ GOLD PROJECT September 2010
on p. 11 of 121 in the NI 43-101 dated April 2011.
Resource quantities adjusted for ownership percentage of 40.0%.
cutoff grade of 0.02 oz Au/ton.
Pine Grove is the main focus of the company. The property consists of the Wilson deposit and the nearby Wheeler deposit with exploration potential on intervening and surrounding ground. The Company intends to advance the project to production in 2011. [Source: MD&A June 2010]
Latest NI43-101 Report: Pine Grove Gold Project
Lyon County, Nevada, USA
NI 43-101 Technical Report
2011-03-16 (134 pages).
Project Location: Nevada, USA.
Average Ore Value (all estimate types): US$31.79
Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $2.31 | 196.03 K oz | 0.789 g/t | 7.73 M t |
Estimate notes: TABLE 17-14: Indicated Resources for the Pine Grove Gold Project
LINCOLN GOLD US CORP. – PINE GROVE GOLD PROJECT
March 2011, NI43-101 report dated March 2011.
Cufoff 0.005 opt
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $1.67 | 141.80 K oz | 0.651 g/t | 6.77 M t |
Estimate notes: TABLE 17-15: Inferred Resources for the Pine Grove Gold Project
LINCOLN GOLD US CORP. – PINE GROVE GOLD PROJECT
March 2011, Technical Report dated March 2011.
0.005 oz Au/t