Lincoln Minerals announced that the Company has signed a contract with Bullion Drilling Co Pty Ltd. to undertake exploration drilling on the Company's Koppio graphite project and additional drilling on the Kookaburra Gully graphite deposit on the Eyre Peninsula, both of which have strong conductive anomalies associated with graphite mineralisation. The air core drill rig is being mobilised onsite to commence drilling on known graphite mineralised areas in the coming week with the drilling program expected to be completed by early April. The drilling program will focus on the most promising targets identified by exploration team, with the aim of better defining the volume, extent and quality of the graphite mineralization.

The Company has recently completed Ground Electromagnetics (EM) over key graphite prospects and the exploration team is processing and interpretation EM data to assist in target definition. Drilling comprises a program of approximately 6000 metres of air core drilling over highly prospective graphite mineralised areas, which have already shown significant areas of conductive response from reprocessing of Airborne EM geophysical data. The main target areas are the strike extensions of the Kookaburra Gully Extended prospect which is along strike to the south from the flagship, Kookaburra Gully measured, indicated and inferred JORC 2012 resource estimation, and the Koppio Prospect, which includes an inferred graphite resource of 1.85Mt @ 9.8% (Total Graphitic Carbon -TGC at 5% cut-off).

All these prospective areas lie above significant EM anomalies which have been under explored. The Company believes further drilling to infill the existing broad spaced drilling, as well as the strike continuity, which is open to the north, south and at depth, will potentially bolster the potential for the Kookaburra Graphite Project to become a world-class graphite resource. As part of the Company's re-assessment of its graphite assets, the exploration team has proposed a program of additional drilling to update and add valuable data toward the review of its mining feasibility study at the Kookaburra Gully graphite deposit.

To achieve this, an Exploration Program for the Environment and Rehabilitation (E-PEPR) for mineral leases has been submitted to the South Australian Department of Energy and Mines (DEM) over ML6460. Subject To Approve the E-PEPR, drilling will commence on the Kookaburra Gully deposit towards the back end of the drilling program. Recent follow up ground based EM surveying has been completed over the Kookaburra Gully graphite Project areas, as well as several grass roots regional prospects.

These prospects are approximately 35km north of Port Lincoln and form part of the Company's Kookaburra Gully Graphite project. Processing and interpretation of the data is ongoing and results are expected in the coming weeks. The Company hopes that the results of the ground-based EM will highlight and define areas of additional anomalous conductivity which will assist with the drill targeting as the program progresses.

After raising capital and being readmitted to the ASX, the Company is working to reinvigorate its exploration activity at the Kookaburra Gully Graphite Project, with the aim of creating shareholder value and developing its graphite project.