Mr. Paul Saxton reports

LINCOLN GOLD ANNOUNCES PRIVATE PLACEMENT TO ADVANCE THE ACQUISITION AND DEVELOPMENT INITIATIVES AT THE BELL MOUNTAIN PROJECT, NEVADA

Lincoln Gold Mining Inc. has arranged a non-brokered private placement financing for gross proceeds of up to $750,000 through the issuance of three million units of the company at a price of 25 cents per unit. Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of 50 cents per warrant share for a period of 12 months from the closing of the private placement. The proceeds from the private placement will be allocated toward costs related to the acquisition of the Bell Mountain gold project located in Nevada. The Bell Mountain project is fully permitted with a thorough mining plan for a cost-effective open-pit, heap leach operation. Lincoln plans to commence an updated preliminary economic assessment that is required by the TSX Venture Exchange and begin the detail design of the plant upon closing this private placement.

The private placement represents an important step for Lincoln in advancing the company's goal toward near-term gold production. The funds raised are expected to accelerate the company's acquisition of Bell Mountain. For additional details regarding the acquisition, please refer to the company's news releases dated Aug. 10, 2023, Oct. 27, 2023, Nov. 6, 2023, Jan. 5, 2024, and March 15, 2024. The proposed addition of Bell Mountain to Lincoln's portfolio demonstrates the company's commitment to its strategic expansion and value creation for the company's stakeholders. The company believes that the acquisition of Bell Mountain will contribute to the further advancement and development of Lincoln's larger Pine Grove gold property given the proximity of the projects.

Commenting on the private placement, chief executive officer and president of Lincoln Gold Mining, Paul Saxton, stated: "We are excited to announce this private placement offering as it marks a crucial step forward in our journey towards becoming a mid-tier gold producer. The proceeds will enable us to expedite the commencement of work on Lincoln's projects, driving us closer to our strategic objectives."

Interested investors are encouraged to contact Lincoln Gold Mining for further details regarding participation.

All securities issued with respect to the private placement will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws. Closing of the private placement is subject to all necessary regulatory approvals, including the TSX-V.

About Lincoln Gold Mining Inc.

Lincoln is a Canadian precious metals exploration and development company headquartered in Vancouver, B.C. Lincoln holds 100-per-cent interest in Pine Grove gold project located in Nevada, United States, renowned for its mining-friendly regulations. Lincoln received conditional approval from the TSX-V 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 toward its goal of becoming a mid-tier gold producer.

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