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Lincoln Signs Letter of Intent Reducing Wilson Royalty to 1%
VANCOUVER, BC / ACCESSWIRE / March 23, 2021 / Lincoln Gold Mining Inc. ("Lincoln" or the "Com...
About this update from Lincoln Gold Mining Inc
[{"type":"text","content":"Lincoln Signs Letter of Intent Reducing Wilson Royalty to 1%VANCOUVER, BC / ACCESSWIRE / March 23, 2021 / Lincoln Gold Mining Inc. (\"Lincoln\" or the \"Company\") (TSXV:LMG) is pleased to announce that it has signed a non-binding Letter of Intent (\"LOI\") with Lyon Grove LLC to reduce the royalties on its Wilson property to 1% which comprises a substantial part of the Company's Pine Grove project in Nevada.Under the terms of the LOI, the Company will buydown the current net smelter returns royalty (\"NSR) on the Wilson property from 2.5% to 1.0% on the patented claims and from 5.0% to 1.0% on the claims that fall within the area of interest - for an aggregate consideration of US$450,000 payable in quarterly instalments over six years commencing April 30, 2021.The LOI is subject to, amongst other things, the execution of a definitive agreement, project financing, and regulatory approval, as applicable.The Company believes that the significantly reduced NSR on the Wilson property will greatly enhance the financing opportunities as it plans for the final stages of permitting and development of the Pine Grove project.About LincolnLincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding a 100% interest in the Pine Grove Gold Project, in the Walker Lane structural zone of western Nevada. The Company has prepared a preliminary economic assessment of the Pine Grove Gold Project pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Lincoln is working with the USFS to secure the permits necessary to develop the Pine Grove Gold Project into a low-cost heap leach operation with a high-grade gravity circuit.Lincoln also owns an interest in a joint venture in respect of the Oro Cruz Gold Property in California. Lincoln's joint venture partner is advancing the Oro Cruz Gold Property towards further exploration, development and production.Lincoln holds its interests in these projects through its wholly owned subsidiaries, Lincoln Resource Group Corp. and Lincoln Gold US Corporation, both Nevada corporations.For more information, please contact Paul Saxton, President and CEO of the Company.On behalf of Lincoln Gold Mining Inc.Paul SaxtonPresident and CEO, Lincoln Gold Mining Inc.Tel: (604) 688-7377Email: [email protected] STATEMENT REGARDING FORWARD-LO...