JUNIORMETRICS

Lincoln Gold Mining Inc.

LNCLF·LMG·US$0.28 (CAD 0.39)·US$8M cap
Goldalso:Bell Mountain Gold-Silver Mine and Pine Grove Gold Project, Nevada Map

Lincoln Mining Corp. (TSXV:LMG, doing business as Lincoln Gold Mining Inc.) is a precious-metals developer whose 100%-owned Bell Mountain Gold-Silver Project (Churchill County, Nevada) comprises four deposits -- Spurr, Varga, Sphinx and East Ridge -- and is a fully permitted, advanced-stage open-pit heap-leach project with a Measured and Indicated resource of 42,341 oz of contained gold (plus 25,761 oz Inferred) in its July 2024 statement. The BLM Plan of Operations was formally transferred into Lincoln's wholly-owned subsidiary Lincoln Resource Group Corp. as of January 2025, and as of June 2026 the project was reported at the construction-financing stage, and its July 2024 preliminary economic assessment models about two years of open-pit mining followed by about 90 days of residual leaching. Lincoln also holds the Pine Grove gold project (Lyon County, Nevada), the larger of its two projects and the one its latest MD&A calls its main project, within 61 air miles of Bell Mountain on the same Walker Lane Mineral Trend, where analysis of core from a 2021 drilling program at the Wilson deposit is ongoing.

Notable vs. Peers

  • Financials score of 0.6/10 is weaker than the peer average of 5.4/10.

Lifecycle Milestones

Grassroots
Resource Def.
PEA
PFS
Feasibility
PermittingCurrent
Construction
Production

Construction Milestones

0 of 5 reached
  1. Not yet reached
  2. Not yet reached
  3. Not yet reached
  4. Not yet reached
  5. Not yet reached

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

Prior Ownership & Infrastructure
Bell Mountain Gold-Silver Mine, Churchill County, Nevada
Road Access2.9/10 built out

Not in place: mill, tailings facility, grid power.

Combined view across 2 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.

Combined resource
176.8K oz Au
Sum of 2 of 2 projects with a disclosed figure
IRR, per project
—
No project has a disclosed IRR yet
Mine life, per project
—
No project has a disclosed mine life yet
6.9/10
Weak track recordStrong track record
6.9/10 vs.
0.6/10
Thin runwayWell-capitalized
0.6/10 vs.
How this is calculated
3.3/10
Weaker depositStronger deposit
3.3/10 vs.
How this is calculated
5.7/10
Harder place to buildEasier place to build
5.7/10 vs.
What goes into it
  • Jurisdiction (40%)9/10

    Nevada: Fraser PPI 2025 is 100.00 of 100 (rank 1 of 68), which maps to 9 on this site's scale. Bell Mountain is in Churchill County, Nevada, USA (Walker Lane Mineral Trend) -- Tier-1 mining jurisdiction.

  • Infrastructure (40%)2.9/10

    No confirmed mill, confirmed road access, no confirmed grid power, and no confirmed tailings facility at Bell Mountain Gold-Silver Mine, Churchill County, Nevada.

  • Nearby producing mine (20%)Not yet researched

    No producing mine within 50 km in our reference list (nearest listed: Round Mountain (Kinross Gold Corporation), 106 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.

4.1/10
Weaker profileStronger profile
4.1/10 vs.
Price Chart
$0.158$0.251$0.488$0.316$0.285AugDecMarJulOct
Aug 12, 2025 – Oct 20, 2026
News
$0.28
+108.1%from low-59.2%from high
$0.13$0.68
See who ↓
39.5%
Low alignmentHigh alignment
39.5% vs.
See who ↓
0%
Low alignmentHigh alignment
0% vs.
$8M
Far belowFar above
$8M vs. $22.1M peer median
Price (USD - Local)
US$0.28 (CAD 0.39)
Cash Position (USD)
$110.3K
Far belowFar above
$110.3K vs. $3.4M peer median
Debt (USD)
$2M
Far aboveFar below
$2M vs. $0 peer median
$9.9M
Far belowFar above
$9.9M vs. $19.4M peer median
28.8M
Far aboveFar below
28.8M vs. 154.2M peer median
Jurisdiction
United States
176,841 oz
Feeds Deposit Quality score
Measured115,351 oz
Indicated61,490 oz
Inferrednot scored32,361 oz
Total resource209,202 oz
Far belowFar above
176.8K oz vs. 1.3M oz peer median
Compares M&I only — Inferred isn't compared or scored.
$56.03/oz
M&I
Total resource (incl. Inferred)$47.36/oz
Peer median $68.74/oz
Far aboveFar below
$56.03/oz vs. $132.67/oz peer median
0.0343 oz/tCut-off: Pine Grove: 0.007 opt Au (about 0.24 g/t), blocks inside the Wheeler and Wilson pit shells at US$1,425/oz Au (2011 estimate, February 2015 amended PEA); Bell Mountain: 0.0071 opt AuEq (Spurr), 0.0087 opt AuEq (Varga), 0.0075 opt AuEq (Sphinx, East Ridge), within US$1,950/oz Au pit shells (July 2024 statement)
Far belowFar above
0.0343 oz/t vs. 0.0383 oz/t peer median
Open pit and heap leach (planned)
2 yrs2024 study
Far belowFar above
2 yrs vs. 11.1 yrs peer median
@5%$24.1M2024 study · gold deck US$2,200 vs spot US$4,114/oz
Far belowFar above
$24.1M vs. $603M peer median
0.33x2024 study · gold deck US$2,200 vs spot US$4,114/oz
Far aboveFar below
0.33x vs. 0.32x peer median
0.41x2024 study · gold deck US$2,200 vs spot US$4,114/oz
Far aboveFar below
0.41x vs. 0.29x peer median
$35.9M2024 study
Far aboveFar below
$35.9M vs. $293.2M peer median
0.7xBelow Durrett's 2:1 bar2024 study · gold deck US$2,200 vs spot US$4,114/oz
Far belowFar above
0.7x vs. 2.4x peer median
$2,200/oz47% below spot ($4,114/oz)2024 study
60%Clears Durrett's 25% developer bar2024 study · gold deck US$2,200 vs spot US$4,114/oz
Far belowFar above
60% vs. 43% peer median
39.5%
0%100%
39.5% vs. 12.1% peer median
0%
0%100%
0% vs. 3.3% peer median
106 kmfrom Kinross Gold Corporation's Round Mountain
Outside typical bolt-on range
-$1.4M
Far belowFar above
-$1.4M vs. -$3.3M peer median
-$0.049
Far belowFar above
-$0.049 vs. -$0.018 peer median

Acquisition Susceptibility

How this is calculated
6.7/10
Unlikely bolt-onFits the takeout profile

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.

How this score is built

  • Disclosed pending deal
    Sub-score: Not scored

    No pending acquisition or merger disclosed (checked)

    Not scored: having no deal in flight isn't held against a company.

    Weight 26.25%
  • Producer's strategic stake
    Sub-score: Not scored

    No producer holds a disclosed stake on file (holder register researched) See holders

    Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.

    Weight 25%
  • Distance to a producing mine
    Sub-score:
    3.1/10

    Nearest producing mine: Round Mountain (Kinross Gold Corporation), 106 km

    10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.

    Weight 22.5% · 46% here
  • Lifecycle stage
    Sub-score:
    10/10

    Stage: Permitting

    Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.

    Weight 15% · 31% here
  • Jurisdiction
    Sub-score:
    9/10

    United States: jurisdiction score 9/10

    Our jurisdiction score, used as is: higher means lower political and permitting risk.

    Weight 6.75% · 14% here
  • Commodity
    Sub-score:
    10/10

    Primary commodity: Gold

    Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.

    Weight 4.5% · 9% here

Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.

Overall Score Trend
-8.9% since 2026-08-11 · -22.6% from peak

Your Rankings

Community Sentiment
—SELLINGBUYING
CategoryCommunityYour Ranking
Overall— (0) 
Management— (0) 
Financials— (0) 
Jurisdiction— (0) 
Project Quality— (0) 

Management Team

President and Chief Executive Officer of Lincoln Mining Corp. (operating publicly as Lincoln Gold Mining Inc.), advancing the Pine Grove gold project in Lyon County, Nevada. Mining engineer (P.Eng.); previously Senior Vice President of Viceroy Resource Corporation overseeing construction and operations of the Castle Mountain mine, President of Loki Gold Corporation and Baja Gold Inc. (bringing the Brewery Creek Gold mine into production), and helped organize the 1995 merger forming Viceroy Resource Corporation.

Chief Financial Officer of Lincoln Mining Corp., appointed effective October 23, 2024.

Insiders, Investors & Smart Money

Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.

Smart money
1/10

No institutional or strategic holder is on record, and the only insider activity in the last two years is an option grant, not a purchase. A real check that found nothing.

No notable insiders tracked for this miner yet.

Reports, Presentations & Documents

Technical Report Takeaways

Lincoln Gold Mining is a precious-metals developer whose 100%-owned Bell Mountain gold-silver project in Churchill County, Nevada, comprises four deposits and is a fully permitted open-pit heap-leach project. Its July 2024 preliminary economic assessment models about two years of open-pit mining followed by about 90 days of residual leaching. Lincoln also holds the Pine Grove gold project in Lyon County, Nevada, the larger of its two projects, on the same Walker Lane trend.