The Imps totally dominated Shrewsbury who, at times, must have wondered how they were still in the game. But Town, despite some late scares, held out for a vital away point.
Town sneaked in front in the 18th minute from their first attack of the game. Ben Herd released Kelvin Langmead down the right and the striker's cross was not cleared by the Lincoln defence leaving Jamie Tolley free to fire the ball into the net from 10 yards.
After struggling to make an impression in the first half hour Lincoln stepped up their game and almost levelled when a rocket shot from Derek Asamoah beat Shrewsbury's teenage goalie Joe Hart, but it smashed against the angle of the post and bar.
Shrewsbury had another let off in the 37th minute when Lee Beevers beat Hart from inside the box, but his effort was blocked on the line by David Edwards.
Shrewsbury's defence was struggling to hold Lincoln and two minutes later, Hart was beaten again by a header from Nat Brown but Town were saved by the crossbar.
Early in the second period Marvin Robinson was denied by a point-blank save by Hart.
Lincoln finally levelled in the 51st minute. A superb downward header from Robinson brought an equally good save from Hart but, in the following scramble, Brown bundled the ball over the line from two yards.
Three minutes later a deep cross from Gary Birch found the head of Robinson but with Hart again beaten the ball rolled agonisingly wide of the post.
Shrewsbury escaped yet again, when an in-swinging corner from Kerr came back off the bar.
Asamoah was then sent clear by Robinson but scuffed his shot and Hart made an easy save.
Lincoln's frustration began to show and in the final five minutes both Asamoah and Beevers were yellow-carded for foul play.
Even then Lincoln could have sneaked a winner three minutes from time. Shrewsbury failed to deal with a Mayo corner and sub Francis Green managed to stab his shot past Hart only for Edwards to save Town again, with another goal line clearance.