Lincoln Mining Corporation announced that at the closing of the private placements described above and as required by the Procon transactions, three incumbent directors of the company resigned (Philip Walsh, Michael Price and Robert Elton), and the remaining directors appointed four nominee directors of Procon to the board resulting in Procon nominee directors constituting a majority of the board of directors of the company. As a result, the board of directors of the Company is now comprised of the following persons: Paul Saxton (President, CEO and Corporate Secretary) Andrew Milligan (independent director) Robert Cruickshank (independent director) Edward Yurkowski (Procon nominee) James Dales (Procon nominee) Yan Luo (Procon nominee) Yuhang Wang (Procon nominee) Biographies of the Procon nominee directors were disclosed in the company's information circular dated September 25, 2012. Following closing, the company's audit committee will be comprised of Andrew Milligan, Robert Cruickshank and James Dales, and the compensation committee will be comprised of Andrew Milligan, Robert Cruickshank and Edward Yurkowski.

The company would like to thank Messrs. Elton, Price and Walsh for their service and ongoing support.