March 3, 2014
Vancouver, British Columbia – Lincoln Mining Corporation, TSX-V: LMG
(“Lincoln” or the “Company”) announces that further to its
news release dated February 19, 2014, Lincoln has been advised that Procon
Resources Inc. (PRI” or Procon”) has completed the divestment of its interests
in Lincoln pursuant to the Order of the Committee on Foreign Investment in the
United States (the CFIUS Order”).

Mr. Ronald K.
Netolitzky, a Canadian mining entrepreneur, has acquired Procons 46,000,000
common shares of Lincoln through a private sale at approximately $0.01127 per
share for a total purchase price of $518,420.

In addition, the
$2,300,000 convertible debenture held by PRI (plus approximately $175,000 in
accrued interest), has been repaid in full and discharged using funds advanced
to Lincoln through unsecured, non-convertible loans from companies controlled
by two directors of Lincoln (the Loans”). The Loans bear interest at a rate of
6% per annum, payable monthly commencing April 1, 2014 for a term of five years
at which point the principal amount owing under the Loans is due.

The Company also
announces the resignation of Lincolns Chief Financial Officer (CFO”), Mr. Jimmy
Mah, and would like to thank Mr. Mah for his service to the Company. The
Company has appointed Mr. Eugene Beukman as its new CFO.

Mr. Eugene Beukman has
been a corporate consultant to public companies in Canada since January 1994,
primarily involved in the acquisition of assets and joint ventures for junior
mining and oil and gas issuers. He is a director and/or officer of several
reporting companies listed on the TSX Venture Exchange and CNSX and is the
President/Owner of Pender Street Corporate Consulting Ltd., a company involved
in the organization and management of a number of public companies since 2006.
Mr. Beukman graduated from Rand University of Johannesburg, South Africa, with
a Bachelor of Law Degree and a Bachelor of Law Honors Postgraduate Degree.
Prior to moving to Vancouver in 1993, Mr. Beukman was a legal advisor to
Billiton Limited in South Africa. Overall he has over thirty years experience
in the acquisition of assets and joint ventures and in negotiating prospecting
and option agreements. Mr. Beukman is an Advocate of the Supreme Court of South
Africa.

In addition, the
following directors have resigned: Madame Luo Yan and Messrs. Edward Yurkowski,
James Dales and Yuhang Wang. Lincoln would like to express its appreciation to
these directors for their service and ongoing support throughout the divestment
process.

As a result of the
completion of the Procon divestment, there are no more operational or financial
ties between Procon and 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.

For further
information, please contact Investor Relations at 604-688-7377 or visit the
Companys website at www.lincolnmining.com.

On behalf of Lincoln
Mining Corporation

“Paul
Saxton”

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 relating to the repayment of the Loans, 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: the Companys
ability to pay interest and repay the principal of the Loans and other
outstanding loans of the Company will be contingent on the Company raising
significant, additional funds through equity and/or other financing
arrangements and there can be no assurances that such financing will be
available to the Company on acceptable terms or at all; risks relating to
actual exploration results, impairment or loss of the Company’s rights in
respect of its 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.