April 2020 Cautionary Statement Certain statements contained herein - - PowerPoint PPT Presentation

April 2020

Certain statements contained herein regarding the Company and its operations constitute “forward-looking statements” or

• information. All statements other than statements of historical fact included in this presentation, including, without

limitation, statements regarding future plans and objectives or expected results are forward-looking statements that are based

• n numerous assumptions that involve various risks and uncertainties inherent in the Company’s business, including risks

related to mineral resource exploration and development. Actual results may very materially from those described in the forward-looking statements. 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 companies’ plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timelines of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company makes all reasonable efforts to update its corporate materials, documentation and forward-looking information on a timely basis. The preliminary economic assessment and technical reports noted herein are preliminary in nature and include some inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that these mineral resources will be realized. The reported mineral resources are not mineral reserves and do not have demonstrated economic viability.

• Mr. Paul Saxton, the Company’s President & CEO and a “qualified person” under NI 43-101, reviewed and approved the

scientific and technical information contained in this presentation.

Cautionary Statement

Listed on TSX Venture Exchange (LMG) & Frankfurt Stock Exchange (ZMG1).

LEI Number: 5299000BW5PUL77IEQ04

PROJECTS: Pine Grove Property, Nevada š Pre-development stage gold project Oro Cruz Property, California š Advanced stage gold project OBJECTIVES:

• Advance exploration and development of Lincoln’s projects.
• Achieve production & grow the Company through cash flow from production.
• Continue to evaluate exploration projects that hold opportunity, with a view to

expanding Lincoln’s portfolio of gold properties in North America.

Overview & Objectives

Management Team

OFFICERS: Paul Saxton – President and CEO Paul Saxton is the President, CEO and Director, a mining engineer with extensive mining industry experience. Jeffrey Wilson – Executive Vice President & Vice President Exploration Director of Exploration, Mr. Wilson brings to Lincoln Mining 34 years of professional exploration experience. Micheal Attaway – Chief Operating Officer & Vice President Operations

• Mr. Attaway is a mining engineer with over 30 years of professional experience in mine operations.

Eugene Beukman – Chief Financial Officer

• Mr. Beukman has over 30 years of experience related to acquisitions, joint ventures, organization and

the management of public and private companies. DIRECTORS: Paul Saxton ADVISORS: Ron Netolitzky Andrew Milligan Henry Ewanchuk Ronald Coombes Robert Schafer Shing Lee

Share Structure (at April 15, 2020):

Issued & Outstanding: 20,064,596 Warrants: 7,628,590 Options: Fully Diluted Total: 28,748,309 Special Warrants: 1,055,123 (Exercisable under certain conditions)

Share Structure

Pine Grove Gold Property

Wheeler Deposit, looking eastward.

Pine Grove Gold Property – Location

Mines and Deposits within the Walker Lane Mineral Trend, Nevada.

Pre-development stage project in Walker Lane Mineral Trend, Nevada. High-grade intercepts drilled in 2009 – 2010 (news release May 18, 2010). Planned as an open-pit mine, with heap- leach processing and with 6 years of mine life operations. Strong potential for resource expansion. Project has excellent infrastructure.

Pine Grove – Project Highlights

Pine Grove – Two Deposits

Wheeler deposit

Wilson deposit

Looking South. Looking North.

Wheeler deposit

Pine Grove Property

– February 16, 2015, Lincoln filed an Amended and Restated NI 43-101 Preliminary Economic Assessment for the Pine Grove Project, Lyon County, Nevada. – Plan of Operations with the U.S. Forest Service, along with progress/protocol meetings with the U.S. Bureau of Land Management in Carson City, Nevada will continue. – Permitting, environmental studies, geotechnical, exploration drilling and field exploration work will continue.

Nevada Project Developments

Pine Grove – Mining History

Historical Production

Discovered in 1866; mined until 1887. Mined high-grade with average ≥ 1 opt gold. Lower grade gold material remains in place. Mined only to 160 ft – 180 ft. 240,000 ozs gold produced. *

Modern Exploration

1989 to 1991 – Teck Resources – 190 holes. * 2009/2010 – Lincoln Gold US Corp. – 82 holes. 2017 – Lincoln Gold US Corp. – 14 holes 2018 – Permitting advancements

Pine Grove – Old Stamp Mill.

* Source: Teck report 1996

Pine Grove – Mineral Resources

Global Resources Estimate as at February 4, 2015

Average Cutoff Contained Tonnage Gold Grade Grade Gold (tonnes) (g/tonne) (g/tonne) (grams) Total Measured & Indicated 3,060,000 1.37 0.240 4,182,000 3,373,000 0.040 0.007 134,500 Inferred 145,000 1.41 0.240 204,100 160,000 0.041 0.007 6,600

By Welsh Hagan Associates (formerly Telesto Nevada, Inc.)

( I m p e r i a l U n i t s )

Average Cutoff Contained Tonnage Gold Grade Grade Gold (tons) (oz/ton) (oz/ton) (ounces)

( M e t r i c U n i t s ) Note:

The Pine Grove Preliminary Economic Assessment is preliminary in nature and includes some inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized. The reported mineral resources are not mineral reserves and do not have demonstrated economic viability.

Resource Category At 0.007 opt Au cutoff

Orange areas indicate target zones with exploration potential.

Pine Grove – Exploration Potential

Pine Grove – Site Layout.

Pine Grove – Moving to Production

– Mine Plan of Operations submitted to U.S. Forest Service – Data collecting for the Environmental Impact Study – Refined metallurgy and plant design – Carried out some underground investigation – Conducted soil sampling program in Scotts Canyon area

2018 - Pine Grove Accomplishments

SPRING 2019 – FALL 2019 – Complete and submit Environmental Impact Study – Complete construction finance document – Detailed engineering design work – Carry on with Community meetings – Establish construction date

2019 Moving Towards Mine Construction

Oro Cruz Gold Property

Oro Cruz pit, looking eastward.

The Cargo Muchacho – Caborca Gold Trend crosses California and Arizona into northern

• Mexico. The trend has

a history of open pit gold mines.

Oro Cruz – Land

Location

Imperial County, southeastern California. Tumco Mining District in the Cargo Muchacho Mountains. Approximately 14 miles south of the

• perating Mesquite Mine.

Claims

231 lode claims, 20 lease claims & 13 placer claims. Land position approx. 5,420 acres

• r approx. 8.5 square miles

Oro Cruz – Mineral Resource Estimate

Global Resources Estimate as at September 21, 2010

Average Cutoff Contained Tonnage Gold Grade Grade Gold (tonnes) (g/tonne) (g/tonne) (grams) Inferred 4,386,000 2.20 0.68 10,631,000 4,835,000 0.07 0.02 341,800

By Tetra Tech, Inc. assays capped at 1.5 opt.

( I m p e r i a l U n i t s )

Average Cutoff Contained Tonnage Gold Grade Grade Gold (tons) (oz/ton) (oz/ton) (ounces)

( M e t r i c U n i t s ) Resource Category Note:

The Oro Cruz property mineral resource estimate consists of inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. The reported mineral resources are not mineral reserves and do not have demonstrated economic viability.

On March 4, 2019, Lincoln entered into a letter agreement, through its subsidiary Lincoln Gold US Corp., granting Demerara Gold Corp. and Bell Mountain Exploration Corp. (the “Optionees”) an option to enter into a joint venture agreement for the development of the Oro Cruz gold project in southeastern California. If the option is exercised, the joint venture will allow the Optionees together to earn up to an undivided 75% interest in the Oro Cruz gold project by spending approx. US $2.1 million in property payments, exploration and develop- ment over the next five years.

Oro Cruz – 2019 Development

Oro Cruz – History

Historical Production

1995/1996 – open pit and underground. MK Gold Operations (American Girl JV). 61,000 ozs gold produced in 12 months. Ore was processed 2 miles away at American Girl Mine. Ceased operations due to low gold price. Gold mineralization remains in place.

Oro Cruz pit high-wall & hydro lines from highway.

Oro Cruz – Pit & Underground Workings

? ?

Oro Cruz – Database

Computerized Data Base in Technical Report:

• 431 surface and 60 underground drill holes,
• 13,628 blast holes,
• 2,960 underground channel samples,
• 17,586 assays in the data base.

Surface Data - 1,684 surface samples. All mineralization similar in area. Good metallurgical recoveries recorded in the past.

Gold mineralization (reddish brown areas) exposed in the Oro Cruz pit. Mineralized Zone

Oro Cruz Future Work Plans

Numerous targets are marked for future exploration. Structural zones are new opportunities. Subject to funding, Lincoln plans include: – Conduct confirmation drilling in the immediate pit area, – Upgrade Inferred resources to Indicated and Measured, – Advance the project to a NI 43-101 compliant Preliminary Economic Assessment.

Oro Cruz – High Grade Gold Zone

Pine Grove, Nevada

– 134,500 Measured & Indicated ozs gold & 6,600 Inferred ozs gold w/ PEA Technical Report filed on February 16, 2015.

Oro Cruz, California

– 376,600 Inferred ozs gold w/ Technical Report filed on September 21, 2010.

Mineral Resources Summary

NOTE: Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Looking Forward

Pine Grove – Nevada

• Lincoln Mining continues to develop the Pine Grove gold property.
• The project has strong potential for mineral resource expansion, as recommended in

the NI 43-101 Preliminary Economic Assessment.

• The immediate goal is to advance the project through the permitting and feasibility

stages and into production.

Oro Cruz – California

• Lincoln has found a potential joint venture partner for the Oro Cruz gold project.
• The goal is to advance the project to a NI 43-101 compliant Preliminary Economic

Assessment.

Objectives & Growth

Pine Grove & Bell Mountain – Nevada

• Achieve production.

Oro Cruz – California

• Achieve production.

La Bufa Property – Chihuahua, Mexico

• Sell La Bufa and focus efforts on North America gold-silver projects.

Growth

• Production goal of 150,000 – 200,000 ozs gold per year in 5 years.
• Acquire other properties in western US for production.

Pine Grove, Wheeler deposit Oro Cruz pit Bell Mountain – Varga deposit