LMG Lincoln Gold Mining Inc

Lincoln Mining Corporation (TSX VENTURE:LMG) ("Lincoln" or the "Company")
announces that further to the Company's news release of September 14, 2012
reporting the arbitration of the Letter Agreement of March 31, 2011(the
"Agreement") with Elgin Mining Inc. ("Elgin"), Elgin and Lincoln (together, the
"Parties) have signed a full and final Settlement Agreement (the "Settlement"). 


Under the Settlement, the Parties have decided to terminate the Agreement in
relation to the La Bufa and Oro Cruz properties for the following consideration:




--  Lincoln will pay $350,000 cash to Elgin upon execution of Elgin's
    quitclaim deed in relation to the Oro Cruz property, at which time
    control of the Oro Cruz property will revert to Lincoln; and 
--  Lincoln shall take all commercially reasonable steps to market and sell
    the La Bufa property; the net proceeds of such sale (after allowable
    expenses) to be split equally between the Parties



Currently, a sale of the La Bufa property is not imminent. The Company is
pleased that the Parties have reached a settlement which will provide certainty
for Lincoln's operations and minimize the lengthy and costly arbitration
process. 


The Properties

Oro Cruz

The Oro Cruz property is located in the Cargo Muchacho Mountains, southern
California. The property is approximately 2 miles from the American Girl and
Padre-Madre gold mines (past producers) and approximately 14 miles southeast of
the Mesquite gold mine (in production). Oro Cruz was partially mined by open-pit
and underground methods during the early 1990's but was closed owing to low gold
prices. The Oro Cruz data base includes 481 drill holes, 13,000 blast holes, and
nearly 3,000 underground samples. A NI 43-101 Technical Report was completed on
Oro Cruz by Tetra Tech Inc. and was filed on September 21, 2010 on SEDAR
(www.sedar.com). The Technical Report estimates an inferred resource of 341,800
ozs gold grading 2.20 grams per tonne (0.064 oz per ton). Gold mineralization
remains exposed in the Oro Cruz pit and underground. Lincoln plans to conduct
confirmation drilling of the known gold mineralization in an effort to upgrade
Inferred resources to Indicated and Measured categories. The U.S. Bureau of Land
Management (BLM) has permitting jurisdiction on the property. To assist in
permitting, Lincoln has retained Mr. Richard Grabowski, consultant and past
Deputy State Director, Energy and Minerals for the BLM in California
(1997-2010).


La Bufa

The La Bufa gold-silver property is located in the Sierra Madre Occidental in
southwestern Chihuahua, Mexico. Lincoln controls concessions surrounding the
Rosario mine with past production in the area estimated at 2 million ozs gold
and 28 million ozs silver from an epithermal quartz-breccia vein system. During
2011, Lincoln, drilled targets developed by geophysics and surface sampling on
the Company's northern concessions. Twenty (20) core holes were completed for
5,091 meters. Drilling confirmed the existence of strong quartz-bearing
structures and anomalous gold and silver. 


Mr. Jeffrey Wilson, the Company's Vice President Exploration and a "qualified
person" under National Instrument 43-101, reviewed and approved the scientific
and technical information contained in this news release.


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, 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 Resource Group Corp. and
Lincoln Gold US Corp., both Nevada corporations. 


On behalf of Lincoln Mining Corporation 

Paul Saxton, President & CEO 

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 FUTURE PLANS AND OBJECTIVES
OF LINCOLN IN RELATION TO THE ELGIN SETTLEMENT AGREEMENT AND UNDERLYING
OBLIGATIONS ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND
UNCERTAINTIES. 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 COMPANY'S PLANS OR EXPECTATIONS INCLUDE
THE AVAILABILITY OF PROPERTY BUYERS, THE RISK THAT ACTUAL RESULTS OF FUTURE
EXPLORATION WORK, INCLUDING DRILL RESULTS AND RESULTS OF ENGINEERING AND
METALLURGICAL STUDIES, WILL NOT SUPPORT THE COMPANY'S PLANS TO ADVANCE ITS
PROJECTS; COST OVERRUNS AND PROJECT DELAYS; AVAILABILITY OF CAPITAL AND
FINANCING, GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS, FLUCTUATING METAL
PRICES, 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. THE COMPANY MAKES ALL REASONABLE EFFORTS TO UPDATE ITS CORPORATE
MATERIAL, DOCUMENTATION AND FORWARD-LOOKING INFORMATION ON A TIMELY BASIS. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lincoln Mining Corporation
Investor Relations
604-688-7377
604-688-7307 (FAX)
www.lincolnmining.com

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