Comstock Mining Inc

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Comstock Mining Inc
Press Releases
Monday, December 5 , 2016

Comstock Mining Announces Favorable Supreme Court Rulings
Nevada Supreme Court Positively Affirms Lyon County’s Land Use Decisions

Virginia City, NV (December 5, 2016) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) is pleased to announce that the Supreme Court of the State of Nevada affirmed the lower court’s decision relating to the Lyon County Board of Commissioners’ substantive decision on a Master Plan amendment and Zone change associated with certain mineralized properties near Silver City, Nevada. 

The Supreme Court AFFIRMED that the District Court:

  1. Properly found that the Lyon County Board of Commissioners did not abuse its discretion and that its decision was based upon substantial evidence when approving Comstock Mining’s application for amendments to the Lyon County Master Plan and zoning changes for certain property to permit mining;
  2. Properly dismissed the open meeting law claim; and that
  3. The Lyon County Commission complied with statutory reporting requirements regarding a Master Plan amendment. 

“We are pleased with the Supreme Court’s affirmations, always believing that Lyon County and its Board of Commissioners used proper discretion, relied on substantial evidence that included exhaustive testimony and that the County also properly followed the open meeting law and all other applicable Nevada Statutes. We look forward to expeditiously developing our private lands for the best, most productive, job sustaining uses and to a positive outcome for the County on the one outstanding due process issue,” stated Corrado De Gasperis, President and CEO of Comstock Mining Inc.

About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as: future prices and sales of, and demand for, our products; future industry market conditions; future changes in our exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; operational and management restructuring activities (including implementation of methodologies and changes in the board of directors); future employment and contributions of personnel; tax and interest rates; capital expenditures and their impact on us; nature and timing and accounting for restructuring charges, gains or losses on debt extinguishment,  derivative liabilities and the impact thereof; productivity, production slowdowns, suspension or termination, business process, rationalization and other operational initiatives; investments, acquisitions, joint ventures, strategic alliances, business combinations, asset sales; consulting, operational, tax, financial and capital projects and initiatives; contingencies; environmental compliance and changes in the regulatory environment; offerings, sales and other actions regarding debt or equity securities; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, November 3, 2016

Comstock Mining Announces Board Change

Virginia City, NV (November 3, 2016) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced the resignation of Robert C. Kopple, effective October 31, 2016, from its Board of Directors.

During the past year, in large part through Bob’s leadership, the Company transformed its operations from a higher, fixed-cost, labor-based mining infrastructure, to a lean, low-cost, mostly variable cost structure for substantially all future drilling, development, mining and acquisition activities.  The Company also strengthened its balance sheet by restructuring and significantly reducing its debt and other obligations and prepared non-mining lands for sale with anticipated estimated net proceeds in excess of $7 million. 

Corrado DeGasperis, Executive Chairman of the Board commented: “The critical focus, guidance and achievements that Bob brought to the Board over the past year-plus have been exceptionally productive and valuable.  We understand the demands on his schedule with other boards and responsibilities and we are most thankful for his support and guidance.”
 
Mr. Kopple's resignation did not result from any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

Mr. DeGasperis concluded: “Our focus on costs and liability reductions, coupled with our planned non-mining land sales, are expected to deliver a strong balance sheet that positions us for growth.  With a strong balance sheet and an expansive resource potential, we are keen to accelerate the development of our Dayton Mine into production and further expand our Nevada-based mining platform.”

About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as: future prices and sales of, and demand for, our products; future industry market conditions; future changes in our exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; operational and management restructuring activities (including implementation of methodologies and changes in the board of directors); future employment and contributions of personnel; tax and interest rates; capital expenditures and their impact on us; nature and timing and accounting for restructuring charges, gains or losses on debt extinguishment,  derivative liabilities and the impact thereof; productivity, production slowdowns, suspension or termination, business process, rationalization and other operational initiatives; investments, acquisitions, joint ventures, strategic alliances, business combinations, asset sales; consulting, operational, tax, financial and capital projects and initiatives; contingencies; environmental compliance and changes in the regulatory environment; offerings, sales and other actions regarding debt or equity securities; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, November 3, 2016

Comstock Mining Receives Unanimous Approval on Industrial Zoning
Updates USA Parkway Progress and Related Non-Mining Land Sales

Virginia City, NV (November 3, 2016) - Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced updates on the zoning and progress for selling certain non-mining industrial lands owned in the immediate proximity of Northern Nevada’s booming Tahoe Reno Industrial Center as well as the progress on the USA Parkway (State Route 439 or “SR 439”) expansion. The USA Parkway construction commenced in the spring of 2016 and remains on schedule. The new state route is graded through to the connecting US Highway 50 (“US 50”) and with the Storey County portion of the paving to be completed this month. Final completion of the USA Parkway remains scheduled for an August of 2017 opening.

On July 25, 2016, a wholly-owned subsidiary of the Company purchased 98 acres of industrial land and 257 acre-feet of senior priority water rights in Silver Springs, Nevada for $3.2 million.  This land, together with the water rights, is valued at over $10 million and is situated in immediate proximity to where SR 439 connects with US 50 from the Interstate 80 (“I-80”), through the Tahoe Reno Industrial Center, touted as the largest industrial park in the world.

1132016

See further project details from NVDOT here: http://www.nevadadot.com/uploadedFiles/NDOT/Projects_and_Programs/Road_Projects/USAHandout_final(jm)8-8-16.pdf

On October 6, 2016, the Lyon County Board of Commissioners unanimously approved the application for zoning the newest Comstock properties for industrial uses and allows the entitlement of those properties for sub-parceling and industrial development.

Corrado DeGasperis, President & CEO of Comstock Mining Inc. commented: “Once rezoned, we immediately applied for “Site Certification” with the local development authorities. This certification is designed to ensure that our site is independently certified as ready for development and that the information on our property regarding infrastructure, zoning, price and process is accurate.”

The Company’s strategic plan includes the sale of these non-mining, industrial development lands and water rights, over the next 6-12 months, resulting in expected net cash proceeds of over $7 million. These proceeds will be used for mine development and to eliminate the Company’s debt obligations.

The USA Parkway was originally a privately built, six-mile-long road connecting I-80 to the Tahoe Reno Industrial Center east of Sparks, Nevada. The Nevada Department of Transportation is now extending the Parkway by more than 12 miles to reach US 50, connecting into nearby Silver Springs. The approximately 18-mile-long, four-lane state roadway between I-80 and US 50 will further link greater Reno/Sparks with the US 50 Silver Springs corridor, enhancing regional mobility, expanding commerce and supporting regional economic development. The project is projected to reduce travel times by as much as 38% for those traveling between US 50 and I-80 in Storey and Lyon counties, enabling new business and industry development. 

About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as: future prices and sales of, and demand for, our products; future industry market conditions; future changes in our exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; operational and management restructuring activities (including implementation of methodologies and changes in the board of directors); future employment and contributions of personnel; tax and interest rates; capital expenditures and their impact on us; nature and timing and accounting for restructuring charges, gains or losses on debt extinguishment,  derivative liabilities and the impact thereof; productivity, business process, rationalization, investment, acquisition, consulting, operational, tax, financial and capital projects and initiatives; contingencies; environmental compliance and changes in the regulatory environment; offerings, sales and other actions regarding debt or equity securities; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, October 20, 2016

Comstock Mining Announces Third Quarter 2016 Results
Cost Reductions and Non-mining Land Sales Set Platform for Growth

Virginia City, NV (October 20, 2016) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced selected unaudited financial results for the fiscal quarter ended September 30, 2016.

Selected Third Quarter Strategic and Financial Highlights 

  • Confirmed yields of over 88% for gold and 60% for silver, best in class for Nevada leaching.
  • Awarded a First Place Award for the “Mine Operation Safety,” in the Small Mine Category for 2015 operations.
  • Completed strategic land and water rights acquisition, estimated to exceed $10 million in value.
  • Received unanimous approval from Lyon County for Industrial Zoning on strategic land.
  • Commenced non-mining asset sales with expected net cash proceeds in excess of $7 million.
  • Completed strategic “Lot 51” land acquisition from the Bureau of Land Management (BLM).
  • Completed the feasibility and permitting plans for the Dayton Resource Area, targeting full feasibility and production plans within the next two years.
  • Expanded strategic plans and commenced diligence for acquiring properties outside the district.
  • Cycladex Inc., a strategic investee, received over $700 thousand in Federal research grants for advancing cheaper, faster, safer leaching technologies in collaboration with the Company.

Selected Financial Highlights - Nine-months Ended September 30, 2016 (“the nine-month period”)

  • Mining revenue was $4.5 million, for the nine-month period and costs applicable to mining were $3.5 million, net of silver credits. 
  • Exploration and mine development expense was $4.0 million for the nine-month period, a 53% increase, primarily from underground exploration and development activities.
  • Completed annualized, non-mining, cost reductions of approximately $8 million, amongst the lowest in our peer group.
  • General and administrative expenses were $2.7 million for the nine-month period, a 48% reduction driven by reductions in payroll and administrative expenses. 
  • Net cash used in operations was $3.2 million for the nine-month period, resulting primarily from increased exploration and mine development expenditures.
  • Net cash provided by investing activities was $3.1 million for the nine-month period, resulting primarily from non-mining land and equipment sales.
  • Net loss was $9.1 million for the nine-month period, resulting from lower mining revenues and increased exploration and mine development expenses for Lucerne.
  • Total long-term debt and capital lease obligations at September 30, 2016, were $8.9 million, ($5.6 million excluding the $3.3 million borrowed to purchase certain land and water rights) a 58% reduction as compared to $13.3 million at December 31, 2015, before the purchase. 
  • Cash and cash equivalents at September 30, 2016, were $0.4 million.

Selected Financial Highlights - Three-months Ended September 30, 2016 (the “three-month period”)

  • Mining revenue was $1.1 million for the three-month period, a decrease of $3.2 million from the same prior year period, resulting from lower production and lower average gold pricing.
  • Costs applicable to mining were $0.8 million, net of silver credits.
  • General and administrative expenses were $0.6 million for the three-month period, a 61% reduction driven by lower payroll and administrative expenses.
  • Net loss was $2.2 million for the three-month period, resulting primarily from lower mining revenues and increased exploration and mine development expenses for Lucerne.

“Our focus on cost and liability reductions puts us among, if not at, the lowest cost in our peer group.  These actions, coupled with our planned non-mining land sales, can deliver a debt-free balance sheet and position us for growth.  With a strong balance sheet and an expansive resource potential, we are keen to accelerate the development on the Comstock and to expand our Nevada-based platform through complimentary acquisitions.” stated Corrado De Gasperis, President and CEO of Comstock Mining Inc.

Operating Costs and Cost Reductions

During the first nine months of 2016, the Company transformed its operations from a predominantly fixed-cost, labor-based mining infrastructure, to a strategically partnered network of expert exploration, development, permitting and mining technical resources, both internal and external. This has created a strong team of experts and a mostly variable cost structure for substantially all future drilling, development, mining and acquisition activities.

Actual costs applicable to mining were $3.5 million, net of silver credits, a 66% reduction from the comparable period in 2015, primarily a result of significantly lower fixed labor and processing cost from our completed organizational transformation.  Costs applicable to mining for the first nine months of 2016, and 2015, include depreciation of $1.9 million and $4.6 million, respectively.

Mr. DeGasperis continued: “We now have a leading, Nevada-based gold and silver development platform, positioned for resource growth and development and permitted for future production. We are keen to build the next tier junior gold and silver mining company, through the development of our historic, world-class assets and acquisitions of similar production or near-production ready deposits.” 

Production

The Company recently increased metallurgical yield estimates to over 88% for gold, based on continued, positive recoveries from the leach pad.  This improved yield experience also increases our estimate of the remaining gold on the pad. The Company now expects that the leaching process and resulting gold and silver pours will continue through the end of the fourth quarter of 2016, with revenue in the fourth quarter expected to be approximately $0.7 million.

During the first nine months of 2016, the Company poured 3,810 ounces of gold and 69,079 ounces of silver. During the three months ended September 30, 2016, the Company poured 853 ounces of gold and 17,510 ounces of silver. During the nine months ended September 30, 2016, the Company realized an average price of $1,220.94 per ounce of gold and a $15.78 average sales price per ounce of silver. In comparison, commodity market prices in the nine months of 2016 averaged $1,258.48 per ounce of gold and $17.07 per ounce of silver. 

Current Exploration Projects - District-wide

During the first half of 2016, the Company focused on exploration and development in the Lucerne Resource area, primarily underground core drilling, underground drift (tunnel) development, and underground sampling into the Quartz Porphyry (PQ) and Succor geological targets.  The Company has also developed specific plans for further Lucerne exploration activities to define the extent of known mineralization in the Succor, Woodville and Chute target areas. 

During the third quarter of 2016, the exploration planning effort was focused on the Dayton Resource area.  A draft plan has been designed for an expanded drilling program that would include Reverse Circulation (RC) and core drill holes to place the Dayton Resource into a mine planning stage.  The mine planning would incorporate the existing data and would be expanded by the additional infill, geotechnical and definition drilling.   In addition, progressing southerly from the Dayton Resource Area, drill targets have been identified based on our previous geophysical studies, prior drill holes and extended geological and structural controls into the Spring Valley, south of the Dayton. The Company plans on taking the Dayton Resource Area to full feasibility, with a production ready mine plan within the next two years. We also plan to further develop the remaining areas, which include the Spring Valley, Occidental, Northern Extension and Northern Targets areas, subsequent to and in some cases concurrent with the exploration and development of Lucerne and Dayton.
Figure below represents general overview of priority surface and underground targets.

 

Corporate

The Company continues evaluating and acquiring properties inside and outside the district, expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. We have modified our strategy such that we are now actively pursuing and evaluating strategic business alternatives, including acquisitions of Nevada-based gold and silver mining projects or similarly situated assets for development toward production.  This is in conjunction with, not in lieu, of our Comstock properties.

The near-term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible, including both the Lucerne and Dayton Mine plans, with both surface and underground development opportunities.

General and administrative costs and other non-mining costs, including mine claims and land costs, other real estate operating costs and environmental costs have already declined $6 million as compared to 2015, and exceeding an annualized rate of approximately $8 million compared to 2014.  In addition, the Company eliminated royalties on both the Dayton and Lucerne Resource areas and simplified the capital structure, saving an additional $5.5 million over 2015, in dividends and payments associated with the former preferred share structure. 

The Company expects to operate with less than 15 employees, including expert land, permitting, geology, engineering and metallurgical professionals in 2017. General and administrative costs, however, are expected to continue to decline from actions already taken and are now delivering cost savings annually of approximately $8 million, when compared to 2014, and approximately $6.5 million when compared to 2015.

During the third quarter, the Company (through a wholly-owned subsidiary) exercised an option to purchase, for $3.2 million, industrial land and senior water rights in Lyon County, Nevada.   This land is situated in immediate proximity to where the new USA Parkway effectively connects with Highway 50, from Highway I-80, through the Reno Tahoe Industrial Center, and is valued, together with the water rights, at over $10 million.  USA Parkway is progressing on or ahead of schedule, with paving commencing last week, and completion targeted between August and December of 2017. 

Outlook

The Company plans to sell non-mining related lands, buildings and water rights, over the next 6-12 months, resulting in expected net cash proceeds of over $7 million. These actions are anticipated to eliminate substantially all of the Company’s debt obligations and strengthen the financial position of the Company.

During the first quarter of 2017, the Company also plans limited core drilling in Dayton, sufficient to finalize the parameters of a mine plan and commence the permitting for the Dayton Mine. Infill drilling is expected to significantly expand the reserve potential for the Dayton mine plans.  The Company has developed grade shells with higher average grades and believes the Dayton to have economically feasible potential and intends on developing those mine plans toward full feasibility during 2017, and production within the next two years.  The Lucerne mine is fully permitted and requires additional drilling and development for advancing feasibility and establishing reserves.

The Company will report the results of the Lucerne and Dayton exploration and development programs, as they become available.

Conference Call
The Company will host a conference call today, October 20, 2016, at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time.  The live call will include a moderated Q&A, after the prepared comments by the Company.  The dial-in telephone numbers for the live audio are as follows:

US / Canada Toll Free: 1-800-279-9534
International: 1-719-457-2080

The audio will be available, usually within 24 hours of the call, on the Company website:
http://www.comstockmining.com/investors/investor-library

About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as: future prices and sales of, and demand for, our products; future industry market conditions; future changes in our exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; operational and management restructuring activities (including implementation of methodologies and changes in the board of directors); future employment and contributions of personnel; tax and interest rates; capital expenditures and their impact on us; nature and timing and accounting for restructuring charges, gains or losses on debt extinguishment,  derivative liabilities and the impact thereof; productivity, production slowdowns, suspension or termination, business process, rationalization and other operational initiatives; investments, acquisitions, joint ventures, strategic alliances, business combinations, asset sales; consulting, operational, tax, financial and capital projects and initiatives; contingencies; environmental compliance and changes in the regulatory environment; offerings, sales and other actions regarding debt or equity securities; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, October 13, 2016

Comstock Mining Announces Notice of Third Quarter 2016 Results
and Business Update Conference Call

Virginia City, NV (October 13, 2016) -- Comstock Mining Inc. (“Comstock Mining” or “the Company”) (NYSE MKT: LODE) will host a conference call on Thursday, October 20, 2016 at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time to report Third Quarter 2016 results and provide a business update.
The live call will include a moderated Q&A, after the prepared remarks.  The dial-in telephone numbers for the live audio are as follows:

US / Canada Toll Free: 800-279-9534
International: 719-457-2080

The audio will be available, usually within 24 hours of the call, and for 30 days thereafter, at http://www.comstockmining.com/investors/investor-library

About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as the future quality of life on the Comstock and Comstock’s future production, operations and infrastructure.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, August 11, 2016

Comstock Mining Awarded 2016 Mine Operation Safety Award

Virginia City, NV (August 11, 2016) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE), announced today that the Company has been distinguished amongst Nevada Miners with a First Place Award for the “2016 Mine Operation Safety,” in the Small Mine Category.  

“I must thank the late Randy Harris, our first and former Safety Director, for establishing a safety-first culture throughout our organization and Tammy Harding, our most recent Safety Director, for relentlessly building our team’s competency and awareness, while promoting behavioral safety amongst a group of strongly interdependent miners, men and women, who care for each other.  Together, our whole team has been acknowledged from their excellent leadership in 2013, 2014, and now again, in 2015,” stated Corrado De Gasperis, President and CEO of Comstock Mining.

The Nevada Mining Association (NvMA) recognizes mining operations based on their safety statistics from 2015, for operators that had a minimum of 35,000 exposure hours during the calendar year. Comstock Mining’s operations achieved a “Triple Zero,” meaning no reportable injuries, lost times incidents or severity days for the entire year of 2015.”

Mr. DeGasperis concluded: “It is most rewarding to see every worker return home safely every day.”

For more information, see the Nevada Mining Association’s website at http://www.nevadamining.org.

About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as: future prices and sales of, and demand for, our products; future industry market conditions; future changes in our exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; operational and management restructuring activities (including implementation of methodologies and changes in the board of directors); future employment and contributions of personnel; tax and interest rates; capital expenditures and their impact on us; nature and timing and accounting for restructuring charges, gains or losses on debt extinguishment,  derivative liabilities and the impact thereof; productivity, business process, rationalization, investment, acquisition, consulting, operational, tax, financial and capital projects and initiatives; contingencies; environmental compliance and changes in the regulatory environment; offerings, sales and other actions regarding debt or equity securities; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth.
The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, August 4, 2016

Comstock Mining Announces Second Quarter 2016 Results
Acquires Strategic Lands, Significantly Reduces All Liabilities and Delivers Cost Reductions

Virginia City, NV (August 4, 2016) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced selected unaudited financial results for the fiscal quarter ended June 30, 2016.

Selected Strategic and Financial Highlights 

  • Completed strategic land and water rights acquisition, estimated to exceed $10 million in value.
  • Completed the “Lot 51” land acquisition from the Bureau of Land Management (BLM).
  • Received a major Right of Way Grant Permit from the BLM for Lucerne hauling.
  • Accelerated cost reduction activities to exceed $8 million per annum, lowest in our peer group.
  • Reduced overall debt and other obligations by over $4.7 million since fiscal year-end.
  • Reduced current liabilities by over $3.5 million since fiscal year-end.
  • Reduced bonding requirements by approximately $4 million since fiscal year-end.
  • Paid off the Company's revolving credit facility. 
  • Designated non-mining assets for sale anticipated to generate proceeds in excess of $7 million.
  • Encountered significant higher-grade intercepts from the Lucerne underground exploration.
  • Progressed the Dayton Mine plans for permitting and future production.
  • Expanded strategic plans for evaluating and acquiring properties inside and outside the district.

Selected Financial Highlights - Six-months Ended June 30, 2016 (“the six-month period”)

  • Mining revenue was $3.4 million, for the six-month period, with gold and silver yields topping 87% and 60%, respectively. Costs applicable to mining were $2.7 million, net of silver credits. 
  • General and administrative expenses were $2.0 million for the six-month period, a 41% improvement driven by cost reduction activities and lower payroll and administrative expenses. 
  • Exploration and mine development expense was $3.4 million for the six-month period, a 203% increase, primarily from underground exploration and development associated with Lucerne.
  • Net loss was $6.9 million for the six-month period, resulting from lower mining revenues and increased exploration and mine development expenses for Lucerne.
  • Net cash used in operations was $3.2 million for the six-month period, resulting primarily from increased exploration and mine development expenditures.
  • Net cash provided by investing activities was $1.6 million for the six-month period, resulting primarily from land and equipment sales, including net gains of approximately $0.6 million.
  • Total long-term debt and capital lease obligations at June 30, 2016, were $8.6 million, a 35% reduction as compared to $13.3 million at December 31, 2015. 
  • Cash and cash equivalents at June 30, 2016, were $0.8 million.

Selected Financial Highlights - Three-months Ended June 30, 2016 (the “three-month period”)

  • Mining revenue was $1.5 million for the three-month period, resulting from lower production and lower average pricing.  Costs applicable to mining were $1.3 million, net of silver credits.
  • General and administrative expenses were $0.9 million for the three-month period, a 28% improvement driven by cost reduction activities and lower payroll and administrative expenses.
  • General and administrative expenses will continue to decline from actions already taken.   
  • Net loss was $2.9 million for the three-month period, resulting primarily from lower mining revenues and increased exploration and mine development expenses for Lucerne.

“We have completed our organizational transformation, including significant cost and liability reductions with our partners, that puts us among, if not at, the lowest cost in our peer group.  These actions, coupled with our planned non-mining land sales, will allow us to deliver a debt-free balance sheet with assets, infrastructure and permits that are positioned for growth.” stated Corrado De Gasperis, President and CEO of Comstock Mining Inc.

 Operating Costs and Cost Reductions 

During the first six months of 2016, the Company transformed its operations from a predominantly fixed-cost, labor-based mining infrastructure, to a strategically partnered network of expert exploration, development, permitting and mining technical resources, both internal and external. This has created a best-in-class team of experts and a mostly variable cost structure for all future drilling, development and mining ventures.  These partnerships include American Mining and Tunneling LLC, American Drilling Corporation, and a strong complement of supporting engineering, metallurgical and mining equipment providers where we have now established with preferred relationships. 

Actual costs applicable to mining were $2.7 million, net of silver credits, a 61% reduction from the comparable period in 2015, primarily a result of significantly lower fixed labor and processing cost from our completed organizational transformation.  Costs applicable to mining for the first six months of 2016, and 2015, include depreciation of $1.3 million and $3.1 million, respectively.

Accordingly, general and administrative costs and other non-mining costs, including mine claims and land costs, other real estate operating costs and environmental costs have already declined significantly, exceeding an annualized rate of over $8 million.

Mr. DeGasperis continued: “We now have a leading, Nevada-based gold and silver development platform, positioned for accelerated resource growth and development, de-risked and permitted for future production. We are keen to participate in this rapidly improving gold and silver market.” 

Production
The Company stacked over 13,000 tons of mineralized material during the second quarter.  This additional material, when combined with recently improved metallurgical yield estimates of over 87% for gold, increases our estimated recoverable gold ounces remaining on the pad. The Company now expects that the leaching process and resulting gold and silver pours will continue into the fourth quarter of 2016, with revenue in the third quarter expected to be approximately $1 million.

During the first six months of 2016, the Company poured 2,957 ounces of gold and 51,569 ounces of silver. During the three months ended June 30, 2016, the Company poured 1,255 ounces of gold and 22,131 ounces of silver.

During the first six months of 2016, the Company realized an average price of $1,193.04 per ounce of gold and a $14.58 average sales price per ounce of silver. In comparison, commodity market prices in the first half of 2016 averaged $1,220.28 per ounce of gold and $15.80 per ounce of silver. 

Current Exploration Projects - District-wide

During the second quarter of 2016, the Company expanded its exploration planning to include longer-term exploration targets across the broader Comstock District where multiple miles of additional mineralized strike zones have been identified and added to the Company’s exploration planning activities. This includes the Company's the northeastern properties within the Occidental Group, the Northern properties referred to as the Gold Hill Group and the southern portion of the Dayton Resource Area, extending further south into the Spring Valley Group (refer to Figure 1).

8 14 2016figure1
Figure 1 - General overview of priority surface and underground targets.

Lucerne Exploration And Development

The Company encountered longer mineralized intercepts (10 to 40 feet thick) from bays 3 through 6 as it moved north of the Succor structural intersection and within and bordering the PQ mass. The intervals show continuity laterally and vertically along the structural contact. Using this data previous data, multiple grade shells were produced. Starting with cross sections and level plans, the shells were developed three-dimensionally and refined to form the base of the block model used for internal planning and resource development. (Figure 2)

 8 14 2016figure2
Figure 2 - Current grade shells: red 0.12 opt Au cutoff (averaging 0.31 opt Au) includes magenta 0.25 opt Au cutoff (averaging 0.61 opt Au), with PQ, Succor, and Woodville proposed drill programs.

Although the developed grade shells were promising, they have not yet been incorporated into an economic mine plan. The Company considers the initial 800 feet of advance within the Harris Drift as a first phase of development toward a longer-term exploration and development objective targeting a three quarter mile long mineralized corridor that includes the Lucerne (including the PQ target), Succor, Woodville, and Chute zone systems. Most of these systems remain open to the north and east and particularly at depth.

A second phase of development was completed by advancing a crosscut out of Drill Bay 2 to a total length of 450 feet, toward the structural intersection of the Silver City fault zone and Succor vein zone. The design of the crosscut is geared toward favorable underground drilling position.

The Succor represents an important next target in conjunction with the PQ zone based on its location (perpendicular and adjacent to the PQ).  The Succor Vein Target has a strike length of greater than 1000 feet, an estimated true width averaging 15 feet and an average dip of 55 degrees. The structure has reported historic mining grades of approximately 0.620 ounces per ton of recovered gold equivalent grade and is open to the east and at depth, along the entire structure.  Future drill programs are being developed with a phased approach to scope and extend the Succor and Woodville targets.

Dayton Exploration and Development

The Dayton Resource area represents the Company’s second largest known resource and is located approximately 2 miles south of the Lucerne.  The Company plans to conduct definition drilling and geotechnical core programs within the Dayton Resource area for the purposes of expanding the known resource, development a mine plan with established reserves and permitting the mine for the Company’s second phase of surface mining and production. The Dayton has extensive structural definition from North to South and extending into the Company’s Spring Valley target area. (Figure 3).

8 14 2016figure3
Figure 3 - Dayton and Spring Valley Area

Spring Valley
Spring Valley is located south of State Route 341.  Limited drilling has identified favorable mineralized zones. The exploration of Spring Valley will include phased drilling programs that will continue southerly from SR341 with a remarkable total a strike length of approximately 8,000 feet.

Occidental Group
The Occidental vein is a parallel vein system to the original Comstock Lode and is considered by the Company to be underexplored and a top exploration target, with historic, near surface, high grade production.  The Occidental vein system also has a significant strike length of over 7,600 feet on lands controlled by the Company. Detailed geologic assessment and mapping is ongoing to best define future drilling and development of this exploration target.

Corporate and Outlook 
The Company recently announced that the BLM, Sierra Front Field Office approved a major Right-of-Way for the Company, permitting a dedicated and expanded haul road from the Lucerne mine to the Company’s centralized processing facilities.  The Lucerne Haul Road permit provides exclusivity for hauling, enhancing expansion, efficiencies and safety.   The approval required compliance with the National Historic Preservation Act and the National Environmental Policy Act (NEPA), including the successful approval of an expansive environmental assessment.
 The Company also recently announced that the BLM has conveyed ownership of the parcel known locally as "Lot 51." The BLM's action legally recognizes Lot 51 as private property and marks the successful completion of a multi-year process to acquire this strategic land from the BLM that enables an expanded and efficient haul route from the Lucerne mine.
Mr. De Gasperis commented, “These outstanding achievements conclude two major federal processes resulting in a patent and major permit and deeply strengthens our mining foundation in the District. Our organization is expert at complex permitting and effectively advancing mine development projects in Nevada. We could not be more thankful to our team and the BLM for cooperating so effectively on this tremendous achievement.”
The Company expects to operate with less than 15 employees, including with expert land, permitting, geology and metallurgical engineering professionals. General and administrative costs, however, are expected to continue declining significantly, from actions already taken and now delivering cost savings annually of over $8.0 million.

The Company plans to sell non-mining related lands, buildings and water rights estimated to be worth more than $10 million over the next twelve months, anticipated to result in proceeds of more than $7 million. These proceeds will pay down or eliminate current debt obligations and strengthen the financial position of the Company. These actions are anticipated to eliminate substantially all of the Company’s debt obligations in the next twelve months.

During the second half of 2016, the Company also plans on commencing the permitting for the Dayton Mine.  The Company has developed grade shells with higher average grades and believes the Dayton to have economically feasible potential and plans on further developing those mine plans in the latter half of 2016. Future infill drilling is expected to further expand the reserve potential for the Dayton mine. 

The Company will report the results of the Lucerne and Dayton exploration and development programs, as they become available.

Conference Call
The Company will host a conference call today, August 4, 2016, at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time.  The live call will include a moderated Q&A, after the prepared comments by the Company.  The dial-in telephone numbers for the live audio are as follows:

North American Toll Free: 1-866-253-4737
International: 1-416-849-4292

The audio will be available, usually within 24 hours of the call, on the Company website:
http://www.comstockmining.com/investors/investor-library

About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as: future prices and sales of, and demand for, our products; future industry market conditions; future changes in our exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; operational and management restructuring activities (including implementation of methodologies and changes in the board of directors); future employment and contributions of personnel; tax and interest rates; capital expenditures and their impact on us; nature and timing and accounting for restructuring charges, gains or losses on debt extinguishment,  derivative liabilities and the impact thereof; productivity, business process, rationalization, investment, acquisition, consulting, operational, tax, financial and capital projects and initiatives; contingencies; environmental compliance and changes in the regulatory environment; offerings, sales and other actions regarding debt or equity securities; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Monday, August 1, 2016

Comstock Mining Receives Major Federal (NEPA) Haul Road Permit
Approved Right-Of-Way Opens Stronger Access To Central Processing Facilities

Virginia City, NV (August 1, 2016) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE), announced today that the Bureau of Land Management (BLM), Sierra Front Field Office approved a major Right-of-Way for the Company, permitting a dedicated and expanded haul road from the Lucerne mine to the Company’s centralized processing facilities.  The Lucerne Haul Road permit provides exclusivity for hauling, enhancing expansion, efficiencies and safety.  

Corrado De Gasperis, President & CEO, commented, “This major decision, coupled with the recently received Patent for “Lot 51” concludes two major federal permitting processes and deeply strengthens and solidifies our mining foundation in the Comstock District.”

The approval required compliance with the National Historic Preservation Act and the National Environmental Policy Act (NEPA), including the successful approval of an Environmental Assessment.
 
Mr. De Gasperis concluded, “We are expert in handling the regulatory complexities associated with Nevada mining and permitting at all levels of government and we will continue to leverage this strong competency for our future growth and expansion.”

About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured an extended and complex array of permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and developing junior mining opportunities for expanding its footprint for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of existing and future operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as the future quality of life on the Comstock and Comstock’s future production, operations and infrastructure.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Tuesday, July 26, 2016

Comstock Mining Announces Strategic Land Acquisition
Land and Water Rights Situated in the Rapidly Expanding Reno-Tahoe Industrial Park Area

Virginia City, NV (July 26, 2016) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE), announced today that it has exercised a purchase commitment to acquire 98 acres of land and over 257 acre-feet of senior-priority water rights in Silver Springs, Nevada.  The property was acquired through a wholly-owned subsidiary called Comstock Industrial LLC.  The acquisition and the first six months of interest was funded from a two-year loan of $3,250,000 to acquire the property, secured by a deed of trust on the property.  The loan will be repaid through proceeds from sales of the land or water rights.  The Company, along with Comstock Mining LLC and Comstock Real Estate Inc., also wholly-owned subsidiaries of the Company, provided guaranties for obligations relating to the property purchased. 

Corrado De Gasperis, President & CEO, commented, “This property is located in the immediate vicinity of the Reno-Tahoe industrial Center (TRIC) and the ongoing USA Parkway construction that connects TRIC right into Silver Springs. We want to thank GF Capital and its principals for a tremendously collaborative and successful effort that positions our shareholders for exceptional returns. The valuation for both the land and excess water rights already exceeds an estimated $10 million. Consummating these acquisitions represent a strategically important step in our previously announced plans to capitalize on these non-mining assets.”

About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as the future quality of life on the Comstock and Comstock’s future production, operations and infrastructure.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Monday, July 25, 2016

CORRECTION - Comstock Mining Announces Notice of Second Quarter 2016
Results and Business Update Conference Call  

VIRGINIA CITY, NV--(Marketwired - July 25, 2016) - In the news release, "Comstock Mining Announces Notice of Second Quarter 2016 Results and Business Update Conference Call," issued on July 21, 2016 by Comstock Mining Inc. ("Comstock Mining" or "the Company") (NYSE MKT: LODE), we are advised by the company that the date of the conference call is Thursday, August 4, 2016, rather than August 2, 2016 as originally issued. Complete corrected text follows.

Comstock Mining Announces Notice of Second Quarter 2016 Results and Business Update Conference Call VIRGINIA CITY, NV -- July 21, 2016 -- Comstock Mining Inc. ("Comstock Mining" or "the Company") (NYSE MKT: LODE) will host a conference call on Thursday, August 4, 2016 at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time to report Second Quarter 2016 results and provide a business update.

The live call will include a moderated Q&A, after the­­ prepared remarks.  The dial-in telephone numbers for the live audio are as follows:

North American Toll Free: 866-253-4737
Canada Local / International: 416-849-4292

The audio will be available, usually within 24 hours of the call, and for 30 days thereafter, at http://www.comstockmining.com/investors/investor-library

About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as the future quality of life on the Comstock and Comstock’s future production, operations and infrastructure.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

This e-mail address is being protected from spambots. You need JavaScript enabled to view it.
http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, July 14, 2016

Comstock Mining Announces Positive Conveyance of Federal Land 

Virginia City, NV (July 14, 2016) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE), announced today that the Bureau of Land Management (BLM), Sierra Front Field Office, has conveyed ownership of approximately 24 acres to Northern Comstock, LLC.  The parcel known locally as “Lot 51” is located on the American Flat Road, in Storey County, Nevada. The parcel gets its name because it was established as a lot—and patented—during the historic mining heyday of the Comstock District.  The BLM’s action legally recognizes Lot 51 as private property.  This marks the successful completion of a multi-year process to acquire this land from the BLM.  Lot No. 51 represents a strategic parcel of land that enables an expanded and efficient haul route from the Lucerne mine.  

Corrado De Gasperis, President  & CEO, commented, “We are pleased to permanently acquire Lot 51 from the BLM, correcting a legacy obstacle to our efficiency and expansion objectives.  Working effectively with the BLM, we were able to turn an obstacle into an opportunity for expansion that positively impacts the entire Comstock district.  Its another brick in an increasingly larger foundation.” 

About Comstock Mining Inc.

Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The near term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts.  All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as the future quality of life on the Comstock and Comstock’s future production, operations and infrastructure.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.

 

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV  89440

 

 

This e-mail address is being protected from spambots. You need JavaScript enabled to view it.
http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Investor Relations
Comstock Mining Inc.
Tel (775) 847-5272 ext. 151
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
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