VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 22, 2013) -Lincoln Mining Corporation, (TSX VENTURE:LMG) ("Lincoln" or the "Company") announces that further to its news release dated June 18, 2013 whereby Lincoln and Procon Mining and Tunneling Ltd. and its affiliates (collectively, "Procon") committed to the divestment of Procon's interest in Lincoln within 120 days of the Order ("Order")issued by the Committee on Foreign Investment in the Unites States' ("CFIUS"), the Company and Procon have received an extension to the 120 day divestment deadline until December 13, 2013, subject to the terms and conditions imposed by CFIUS under the Order.
The Company also reports that it has engaged PricewaterhouseCoopers Corporate Finance Inc. ("PwC"), on a non-exclusive basis, as an advisor to assist the Company in seeking financing options. PwC has also been engaged by Procon to assist in the divestiture of its investment in Lincoln.
Lincoln Mining Corp. is a Canadian precious metals exploration and development company with several projects in various stages of exploration and development which include the Pine Grove and Bell Mountain gold properties in Nevada, the Oro Cruz gold property in California and the La Bufa gold-silver property in Mexico. In the United States, the Company operates under Lincoln Gold US Corp. and Lincoln Resource Group Corp. both Nevada corporations. The Company's United States operations remain subject to an order issued by the Committee on Foreign Investment in the United States, as disclosed in the Company's news release dated June 18, 2013.
On behalf of Lincoln Mining Corporation
Paul Saxton, President & CEO
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.
This press release includes forward-looking statements or information. All statements other than statements of historical fact included in this release, including without limitation, statements regarding the potential financing and development of Lincoln's properties, and other future plans, objectives or expectations of the Company, involve various risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to actual exploration results, impairment or loss of the Company's rights in respect of the properties; availability of capital and financing, general economic, market or business conditions, timeliness 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 material on a timely basis.