Comstock Mining Inc

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NYSE MKT: LODE
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Comstock Mining Inc
Press Releases
Wednesday, June 1, 2016

Comstock Mining Completes Award Winning Reclamations and State Route Realignment
Reduces Bonding from $4.5 million down to $565 thousand

Virginia City, NV (June 1, 2016) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE), announced today that it has materially reduced two bonding requirements previously totaling $4.5 million down to a combined $565 thousand, associated with the realignment of State Route 342 (SR 342), and local county reclamations requirements on mining activities for the Lucerne Mine.  The bond reduction will also save the Company almost $100,000 per annum in bonding fees and related monitoring costs. 

The completion of the SR 342 realignment, including the already completed capping of the historic Silver Hills Mine shaft, provides a better route from Carson City to Virginia City and a more efficient passage for ongoing mining operations.  The Company also achieved significant environmental and reclamation objectives.  The SR 342 realignment and historic environmental remediation were substantially completed in collaboration with the Nevada Department of Transportation (NDOT), Storey County, Nevada, U.S. Army Corp. of Engineers (USACE), and the Nevada Division of Environmental Protection (NDEP).

Separately, the Company completed significant reclamation objectives within the Lucerne Mine area, including, but not limited to, the full restoration of the Keystone section of the Lucerne surface mine. The Company received the Excellence in Mine Reclamation Award for the Keystone Mine restoration.
The Excellence in Mine Reclamation Awards recognize some of the most progressive Nevada miners, elevating the standards of excellence in mine reclamations and restorations.

Corrado De Gasperis, President & CEO, commented, “Genuine, fundamental sustainability is embedded in our ’Comstock Responsible‘ culture that enabled the complex network of regulatory cooperation and true public-private partnerships. Now, we have significantly strengthened our balance sheet by reducing the bonding obligations by almost $4 million and significantly reducing ongoing operating expenses, consistent with our 2016 objectives.”

About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, including concurrent and accelerated reclamations, soil sampling, voluntary air monitoring, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating 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 validating qualified resources and reserves (proven and probable) from our first two resource areas, Lucerne and Dayton, and significantly grow 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
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Aneta Kuznicka-Berge
Chief Accountant
Tel (775) 847-4722
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Thursday, May 5, 2016

Comstock Mining Announces First Quarter 2016 Results
Accelerates and Increases Cost Reductions, Strengthens Balance Sheet, Advances Drilling

Virginia City, NV (May 5, 2016) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced selected unaudited financial results for the fiscal quarter ended March 31, 2016.

First Quarter 2016 Selected Strategic and Operational Highlights 

  1. Cost reduction targets for non-mining costs were increased from $3 million to $5.5 million, or over 80% improvement based on actions taken to date and other reductions planned for 2016.
  2. Encountered significant higher-grade intercepts from the Lucerne underground exploration.
  3. Secured $5M in underground drilling, mine development, and mining services with our strategic partner, American Mining and Tunneling, LLC and American Drilling Corp, LLC.

First Quarter 2016 Selected Financial Highlights 

  1. Mining revenue was $2.0 million in Q1 2016, as compared to $5.9 million in Q1 2015, with metallurgical yields improving to 87.5% during Q1 2016, from a previous estimate of 85%.
  2. Costs applicable to mining revenue were $1.4 million, net of silver credits, in Q1 2016, as compared to $3.7 million, net of silver credits, in Q1 2015.  These costs include depreciation of $0.7 million and $1.5 million, for Q1 2016 and Q1 2015, respectively.
  3. General and administrative expenses were $1.1 million in Q1 2016, as compared to $2.1 million in Q1 2015, a 49% improvement driven by lower payroll and lower administrative expenses.  Net loss was $4.1 million, or $(0.02) per share for Q1 2016, as compared to net income of $1.3 million, or $0.01 per share, for Q1 2015, resulting primarily from increased exploration and mine development expenses and to a lesser extent, lower mining revenues and margins.
  4. Net cash used in operations was $0.7 million in Q1 2016, vs. cash provided of $0.2 million in Q1 2015, resulting primarily from increased exploration and mine development expenditures.
  5. Net cash provided by investing activities was $0.6 million, primarily from non-core asset sales.
  6. Net cash provided by financing activities in Q1 2016, was $2.0 million from $3.5 million from the sale of common stock offset by reductions of long-term debt and capital lease obligations.
  7. Cash and cash equivalents at March 31, 2016, were $3.6 million.
  8. Total long-term debt and capital lease obligations at March 31, 2016, were $10.8 million as compared to $13.3 million at December 31, 2015. 
  9. The Company paid down an additional $1.5 million in debt obligations on April 1, 2016.

Production
The Company completed substantially all of the surface mining of the Lucerne West-side and the extraction and remediation of the historic dump materials relating to the re-alignment of State Route 342 during the second half of 2015.  The re-alignment was completed in the fourth quarter of 2015. We continue processing the mineralized material stacked on our leach pad with recent metallurgical yield estimates increasing to over 87.5% as compared to the previous estimate of 85%. This increases our estimated recoverable gold ounces on the pad by approximately 1,317 ounces of gold.  We now expect that the leaching process and resulting gold and silver pours will continue well into the 2016 third quarter, as compared to previous estimates of June 2016.  During the 2016 first quarter, the Company poured 1,702 ounces of gold and 29,438 ounces of silver.

During the 2016 first quarter, the Company realized an average price of $1,184.91 price per ounce of gold and a $14.13 average sales price per ounce of silver.  In comparison, commodity market prices in the first three months of 2016 averaged $1,181.21 per ounce of gold and $14.83 per ounce of silver.

Operating Costs and Cost Reductions
During the first three months of 2016, actual costs applicable to mining revenue were approximately $1.8 million, $1.4 million net of silver credits, as compared to $4.9 million, $3.7 million net of silver credits, during the first three months of 2015. This reduction of net costs applicable to mining revenue resulted primarily from higher metallurgical yields, and significantly lower labor and processing costs resulting from the Company’s transition out of Lucerne’s surface mining phase and into its underground exploration and development phase. Costs applicable to mining revenue included depreciation of $0.7 million and $1.5 million for the 2016 and 2015 first quarters, respectively.

During the first three months of 2016, the Company focused on reducing non-mining costs, originally targeting $3 million in additional reductions for this year as compared to 2015. The Company has aggressively implemented changes, realizing $1.6 million in lower non-mining costs and expenses, excluding exploration and development, in the first three months of 2016, as compared to the first three months of 2015. 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, resulting in higher and faster savings that are now expected to be $5.5 million lower during 2016, as compared to 2015, an improvement of over 80% when compared to the previous disclosed target of $3 million. The Company incurred approximately $0.2 million in severance costs during the first three months of 2016, associated with organizational cost reductions in all areas.

“We have amassed, rezoned and permitted one of the largest land positions in the economically booming Northern Nevada Reno-Tahoe industrial quadrant while simplifying our capital structure and continuing to drive significant efficiencies across all of our fixed operating and administrative costs.   We are protecting this incredible leverage on gold and silver resource development through the lowest possible administrative and operating cost structure, and we are now ahead of schedule in delivering these savings,” stated Corrado De Gasperis, President and CEO of Comstock Mining Inc.

Exploration
During the 2016 first quarter, the Company advanced its exploration and development in the Lucerne area, primarily in the Quartz Porphyry (PQ) target and to a lesser extent, the Succor target area.  Lucerne activity included underground core drilling, underground drift (tunnel) development, and underground sampling. We also advanced the Dayton areas exploration activities with certain surface and underground sampling.  The Company plans to conduct additional, near term, exploration scope drilling within the Succor target area and certain core drilling for the Dayton resource area during the 2016 second half. Based on those results, additional infill drilling in the Succor and Dayton would follow with the objective of adding to internal mine planning and development efforts.  Additional scope drilling of priority targets includes the northern PQ extension and the Woodville target areas. 

From a district wide perspective, the company has added the southern portion of the Dayton, Spring Valley, Occidental, and Northern (Upper Gold Hill) targets to its longer term planning objectives, as shown in Figure 1 below.

552016Fig1
Figure 1 - General overview of underground and surface priority targets.

As of March 2016, approximately 12,380 feet of HQ-3 and NQ core have been produced from six drill bays in the Harris Drift. The core locations and orientations were specifically designed to infill and expand the areas of known, high-grade mineralization identified from previous surface drilling programs, as shown in Figure 2.

5516Fig2
Figure 2 - Underground target areas highlighting the exploration drift and drill bays.

The Company continued encountering longer mineralized intercepts (10 to 40 feet thick) from bays 3 through 6, as it advanced drilling to the north of the Succor structural intersection, within and bordering the PQ mass. The intervals show better continuity laterally and vertically along the structure.

Drill results from Bays 1 through 6 are summarized in Table1.

With completion of drilling, core logging and assaying through Drill Bay 6, the cross sections and level plans were developed, reviewed, updated and digitized.  The model was further refined as these sections were tied together to form a three-dimensional triangulation using Maptek Vulcan software.

Using the geologic model and assay data as a base, multiple grade shells were produced. These shells form the base of the block model used for internal planning, resource and reserve development. The block model uses the grade shells to constrain grade estimation and sampling to specific areas.  Grades are then estimated in those areas keeping grades in ranges identified by the statistical analysis of the drill assays, as shown in Figure 3.

5516Fig3
Figure 3 - Current gradeshells: 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
.

The Company considers the initial 800 feet of advance within the Harris Drift as a first phase of development towards a longer-term exploration and development objective targeting a three quarter mile long mineralized corridor that includes the PQ, Succor, Woodville, and high-grade Chute zone target 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 target in conjunction with the PQ based on its location (perpendicular and adjacent to the PQ), past production history and the results from the Company’s 2011, and 2012, reverse circulation drill programs.

The Succor Vein Target has a strike length of greater than 1,000 feet, an average true width of 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. The proposed drilling holes shown in Figure 3 are designed to extend the depth of known mineralization.

Exploration and Development of Dayton Surface and Underground Targets

The technical staff also completed underground mapping, sampling, and surveying in a number of historic mine tunnels on and near the Dayton resource area. Once sampling was completed, the workings were surveyed to model the size and location of the openings.  The samples were then assayed at the Company’s own metallurgical laboratory for gold and silver.

This underground sampling program has not only provided a wealth of assay information but it has also provided critical information for furthering the geologic understanding of the Dayton.  In some cases structures identified on the surface can be traced underground and in other cases structures that do not have obvious surface expression are identified.

Corporate and Outlook
Production during 2016 is currently limited to processing of existing leach pad materials. Considering the improved estimates of gold and silver recoveries, that is, 87.55% for gold and 59.5% for silver, the current leach cycle will continue well into the third quarter, likely through September 2016, or later. All operating costs associated with hauling, crushing and other ancillary activities have been reduced or eliminated as we transition the full organizational focus toward the discovery, development and establishment of reserves from Lucerne and Dayton, and the additional district-wide targets, including the southern portion of the Dayton, Spring Valley, the Occidental Lode, and the Northern (Upper Gold Hill) targets to its longer term objectives for future mining. During our exploration and development activities in 2016, we expect to operate with less than 15 employees. General and administrative costs are also expected to decline significantly, now resulting in savings in all non-mining costs of over $5.5 million during 2016, as compared to 2015, a more than 80% improvement as compared to the original non-mining cost reduction target of $3 million.

On April 1, 2016, the Company fully repaid the outstanding revolving credit facility and other debt obligations with payments of $1.5 million.  The primary focus for the remainder of 2016, in addition to our exploration and development, is to reduce or eliminate the remaining obligations associated with land and equipment financing. The Company plans on selling non-core, non-mining related lands and buildings, resulting in expected net proceeds of at least $5 million. These proceeds will pay down or eliminate current debt obligations and strengthen the financial position of the Company. The Company also plans on selling surface mining equipment, no longer required in our mine plans, valued at up to over $3 million and eliminating the financing obligations associated with Caterpillar Finance. These actions should eliminate substantially all of the Company’s debt obligations in 2016.

The Company commenced the underground drift tunnel and drilling, associated with the first underground exploration phase of a PQ geological target in September 2015, and completed drift-sampling, drilling and metallurgical test work of the PQ target during the first quarter. The Succor vein system has been prioritized as the easterly extension of the first phase of development beyond the high-grade PQ target. This will positively expand the scope of Phase 1, through the second half of 2016.

The existing drift tunnels will enable efficient scope drilling of these extensions, including the PQ target, the Succor vein systems and the historic Woodville Bonanza system. These initial targets represent the core of a broader geological corridor where the Company is currently drilling. Previous surface drilling in the area, including the Succor-Holman drilling from 2015 has suggested that a greater than 1,000 feet of mineralized strike in the Succor zone lying generally adjacent to and below the PQ target has the potential to yield high-grade gold and silver. The current program is designed to efficiently define that potential. The Company also completed the drifting to the Succor vein system and commenced geological sampling in the second quarter, on the Succor target, to assess its potential for building a more comprehensive Lucerne mine plan. Scope drilling for the Succor is planned for the third quarter.

During the second half of 2016, the Company will also commence limited core drilling in Dayton, sufficient to finalize the parameters of a mine plan and commence initial permitting for the Dayton Mine during the second half of 2016. The Company has developed grade shells with higher average grades and believes the Dayton to have economically feasible potential and plans on developing those mine plans in the latter half of 2016. Subsequent infill drilling is expected to expand the reserve potential for the Dayton mine plans.

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

Mr. De Gasperis concluded, “While the PQ did not deliver a stand alone mine plan, our lower cost structure and much higher metallurgical yields position us well for future exploration and ultimate development of mine plans, including a PQ contribution that can exploit the existing infrastructure, permits and social license profitably.  We are also evaluating the broader district and look forward to reviewing a longer term, exploration plan that includes the southern Dayton, Spring Valley, the extensive Occidental Lode strike, the Chute Zone and dozens of other targets cross the district.”

Conference Call
The Company will host a conference call today, May 5, 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 producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, including concurrent and accelerated reclamations, soil sampling, voluntary air monitoring, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating 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 validating qualified resources and reserves (proven and probable) from our first two resource areas, Lucerne and Dayton, and significantly grow 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 and the following: current global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources and reserves; operational or technical difficulties in connection with exploration or mining activities; contests over our title to properties; potential dilution to our stockholders from the conversion of securities that are convertible into or exercisable for shares of our common stock; potential inability to continue to comply with government regulations; adoption of or changes in legislation or regulations adversely affecting our businesses; business opportunities that may be presented to, or pursued by, us; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to unexpected equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, copper, diesel fuel, and electricity); changes in generally accepted accounting principles; geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues organically; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies and equipment raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to maintain the listing of our securities on any securities exchange or market; and work stoppages or other labor difficulties. 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.

 

Judd Merrill
Chief Financial Officer
Tel (775) 847-7325
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Thursday, April 28, 2016

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

Virginia City, NV (April 28, 2016) -- Comstock Mining Inc. (“Comstock Mining” or “the Company”) (NYSE MKT: LODE) will host a conference call on Thursday, May 5, 2016 at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time to report First 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 producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, including concurrent and accelerated reclamations, soil sampling, voluntary air monitoring, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating 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 validating qualified resources and reserves (proven and probable) from our first two resource areas, Lucerne and Dayton, and significantly grow the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

Forward-Looking Statements
Some of the information presented in this press release, including, without limitation, statements with respect to the transaction between the Company and the American Group, strategic plans and industry prospects, and all other information relating to matters that are not historical facts, may constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are based on our current expectations, which are in turn based on assumptions that we believe are reasonable based on our current knowledge of our business and operations. We have used words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and variations of such words and similar expressions to identify such forward-looking statements. There can be no assurance that actual results will not differ materially. Factors that could cause actual results to differ materially include, without limitation: the receipt and timing of necessary stock exchange, regulatory or other approvals; industry and market conditions affecting the Company and its suppliers; and the other factors detailed from time to time in the reports of the Company filed with the Securities and Exchange Commission, including those described under “Risk Factors” in the Company’s most recent annual report on Form 10-K.  These forward-looking statements speak only as of the date of this communication. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

 

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.

 

Judd Merrill
Chief Financial Officer
Tel (775) 847-7325
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Thursday, March 31, 2016

Comstock Mining Announces Closing of Public Offering of Common Stock

Virginia City, NV (March 31, 2016) - Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced the closing of its previously announced underwritten public offering of 10,000,000 shares of its common stock at an offering price of $0.35 per share of common stock.  Gross proceeds to the Company from this offering are approximately $3,500,000 before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Company granted the underwriter a 45-day option to purchase up to an aggregate of 1,500,000 additional shares of its common stock to cover over-allotments, if any.

Aegis Capital Corp. acted as sole book running manager for the offering.

Northland Capital Markets and Tectonic Advisory Partners (acting through Ecoban Securities Corporation) acted as financial advisors to the Company.

The offering was made pursuant to an effective shelf registration statement (No. 333-208824) previously filed with the U.S. Securities and Exchange Commission (the “SEC”).  A final prospectus supplement and accompanying base prospectus relating to the offering were filed with the SEC.

Copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained from the SEC’s website at www.sec.gov or from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it. .

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of the Company’s common stock, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating opportunities for further exploration, development and mining.  The near-term goal of the Company’s business plan is to maximize intrinsic stockholder value realized, per share, by validating qualified resources and reserves (proven and probable) from the Company’s first two resource areas, Lucerne and Dayton, and significantly grow the commercial development of the Company’s 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 industry market conditions; future changes in the Company’s exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; 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 the Company’s 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 the Company’s annual report on Form 10-K.  Occurrence of such events or circumstances could have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows or the market price of the Company’s securities. All subsequent written and oral forward-looking statements by or attributable to the Company or persons acting on the Company’s behalf are expressly qualified in their entirety by these factors. The Company undertakes no obligation to publicly update or revise any forward-looking statement.

 

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
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Judd Merrill
Chief Financial Officer
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Tuesday, March 29, 2016

Comstock Mining Prices $3,500,000 Public Offering of Common Stock

VIRGINIA CITY, NV (March 29, 2016). – Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE), today announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $0.35 per share. The gross proceeds to the Company from this offering are expected to be approximately $3,500,000 before deducting underwriting discounts and commissions and other estimated offering expenses. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 shares of common stock to cover over-allotments, if any. The offering is expected to close on March 31, 2016, subject to customary closing conditions.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

Northland Capital Markets and Tectonic Advisory Partners (acting through Ecoban Securities Corporation) are acting as financial advisors to the Company.

This offering is being made pursuant to an effective shelf registration statement (No. 333-208824) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov, and a final prospectus supplement and accompanying base prospectus will be filed with the SEC.  Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about Company and such offering.

Copies of the preliminary prospectus supplement and final prospectus supplement relating to this offering may be obtained, when available, from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it. .

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of the Company’s common stock, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and a related prospectus supplement, which have been filed with the SEC.

About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating opportunities for further exploration, development and mining.  The near-term goal of the Company’s business plan is to maximize intrinsic stockholder value realized, per share, by validating qualified resources and reserves (proven and probable) from the Company’s first two resource areas, Lucerne and Dayton, and significantly grow the commercial development of the Company’s 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 industry market conditions; future changes in the Company’s exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; 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 the Company’s 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 the Company’s annual report on Form 10-K.  Occurrence of such events or circumstances could have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows or the market price of the Company’s securities. All subsequent written and oral forward-looking statements by or attributable to the Company or persons acting on the Company’s behalf are expressly qualified in their entirety by these factors. The Company undertakes no obligation to publicly update or revise any forward-looking statement.

 

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

 

 

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http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
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Judd Merrill
Chief Financial Officer
Tel (775) 847-7325
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Tuesday, March 29, 2016

Comstock Mining Partners with American Mining for Mining Services

Virginia City, NV (March 29, 2016) - Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) announced today that it has entered into an agreement with its strategic partner, American Mining and Tunneling, LLC and American Drilling Corp, LLC , (together the “American Group”) for $5 million in underground mine development, drilling and mining services.  These services will be provided in exchange for the issuance of up to 9,000,000 shares of its common stock, at a value of at least $0.56 per share.

The shares to be issued to the American Group will be issued in exchange for future drilling, mine development and underground mining services in connection with, but not limited to, the Company’s construction of an underground exploration portal, mining infrastructure and development of the Company’s Lucerne and Dayton Mine projects.  When such shares are issued, they will be restricted shares subject to a minimum six-month holding period by AMT, during which time the issued shares may not be sold.

Mr. Corrado De Gasperis, President & CEO of Comstock Mining, commented, “We consider the American Group as the best all-around partner for underground drilling and development competencies as we both strengthen our commitments and grow our mutual investment in Nevada mining. By investing with and in us, the collaboration with the American Group has achieved another level of strategic partnering as we position our Nevada-based platform for the next level of performance.” 

The Company has previously partnered with the American Group based on their broad underground drilling, development and underground mining expertise and quality services to the mining industry, and especially in North America, with a special focus in Nevada.

Mr. Steve Elloway, President & CEO of American Group, commented, “Our industry is emerging from three tough years of rationalized exploration and underdevelopment.  We continue partnering with companies in good jurisdictions, having broad development opportunities and high quality, growth-minded, management teams that have invested in their district and positioned themselves for growth.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of the Company’s common stock, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, including concurrent and accelerated reclamations, soil sampling, voluntary air monitoring, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating 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 validating qualified resources and reserves (proven and probable) from our first two resource areas, Lucerne and Dayton, and significantly grow the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible.

About the American Group
American Mining and Tunneling LLC and American Drilling Corp, LLC is a mining services and exploration drilling group headquartered in Spokane Valley, Washington. The Company provides mine development and construction services to the mining industry ranging from beginning stage exploration to the end of mine life reclamation. International services are provided through its North American divisions in Elko, Nevada, Winnemucca, Nevada, Spokane Valley, Washington and Hermosillo, Mexico. Emphasis at the American Group is on maintaining the highest quality, experienced and professional personnel supported by a safety first companywide culture.

www.AmericanMT.com
www.AmericanDrillingCorp.com

Forward-Looking Statements
Some of the information presented in this press release, including, without limitation, statements with respect to the transaction between the Company and the American Group, strategic plans and industry prospects, and all other information relating to matters that are not historical facts, may constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are based on our current expectations, which are in turn based on assumptions that we believe are reasonable based on our current knowledge of our business and operations. We have used words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and variations of such words and similar expressions to identify such forward-looking statements. There can be no assurance that actual results will not differ materially. Factors that could cause actual results to differ materially include, without limitation: the receipt and timing of necessary stock exchange, regulatory or other approvals; industry and market conditions affecting the Company and its suppliers; and the other factors detailed from time to time in the reports of the Company filed with the Securities and Exchange Commission, including those described under “Risk Factors” in the Company’s most recent annual report on Form 10-K.  These forward-looking statements speak only as of the date of this communication. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

 

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

 

 

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http://www.comstockmining.com

 

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
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Judd Merrill
Chief Financial Officer
Tel (775) 847-7325
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Tuesday, March 29, 2016

Comstock Mining Announces Public Offering of Common Stock

VIRGINIA CITY, NV (March 29, 2016). – Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE), today announced an offer for sale of its common stock in an underwritten public offering. The Company intends to use the net proceeds from this offering for exploration and development of the Lucerne and the Dayton mine projects, the payoff of the Company's senior revolving credit facility and general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
 
Aegis Capital Corp. is acting as the sole book-running manager for the offering.
 
Northland Capital Markets and Tectonic Advisory Partners (acting through Ecoban Securities Corporation) are acting as financial advisors to the Company.

This offering is being made pursuant to an effective shelf registration statement (No. 333-208824) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.  Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about Company and such offering.

Copies of the preliminary prospectus supplement and final prospectus supplement relating to this offering may be obtained, when available, from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it. .

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of the Company’s common stock, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and a related prospectus supplement, which have or will be filed with the SEC.

About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating opportunities for further exploration, development and mining.  The near-term goal of the Company’s business plan is to maximize intrinsic stockholder value realized, per share, by validating qualified resources and reserves (proven and probable) from the Company’s first two resource areas, Lucerne and Dayton, and significantly grow the commercial development of the Company’s 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 industry market conditions; future changes in the Company’s exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; 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 the Company’s 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 the Company’s annual report on Form 10-K.  Occurrence of such events or circumstances could have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows or the market price of the Company’s securities. All subsequent written and oral forward-looking statements by or attributable to the Company or persons acting on the Company’s behalf are expressly qualified in their entirety by these factors. The Company undertakes no obligation to publicly update or revise any forward-looking statement.

 

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
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Judd Merrill
Chief Financial Officer
Tel (775) 847-7325
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Thursday, March 17, 2016

Comstock Mining Announces 2016 Annual Meeting and Record Dates

Virginia City, NV (March 17, 2016) -- Comstock Mining Inc. (“Comstock Mining” or “the Company”) (NYSE MKT: LODE) announced today that its 2016 Annual Meeting of Stockholders is scheduled for Tuesday, May 10, 2016, at the historic Delta Saloon banquet facility, 18 C Street, Virginia City, Nevada.  The meeting will begin at 9:00 a.m., and will include an update on the Company’s geological developments and the gold industry. 

The 2016 Annual Meeting schedule is as follows:

Tuesday, May 10, 2016:
8 a.m. – 9 a.m. - Continental Breakfast
9 a.m. – Noon - 2016 Annual Shareholder Meeting, Company Presentations, Q & A

Lunch to be served at the Delta Saloon following the presentations.
Stakeholders are invited to register for this event via the Company website:

http://www.comstockmining.com/investors/investor-relations

The record date for the Annual Meeting is March 18, 2016.  Only stockholders of record at the close of business on March 18, 2016, may vote at the meeting.  The Company’s proxy statement will be sent to stockholders of record and will describe the matters to be voted upon.

About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, includes concurrent and accelerated reclamations, soil sampling, voluntary air monitoring, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating 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 validating qualified resources and reserves (proven and probable) from our first two resource areas, Lucerne and Dayton, and significantly grow 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: our exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; operational and management restructuring activities; and environmental compliance and changes in the regulatory environment.

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
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Judd Merrill
Chief Financial Officer
Tel (775) 847-7325
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Tuesday, March 08, 2016

Comstock Mining Announces Best Intercepts and Widths To-Date
Lucerne Underground Intercepts 0.429 opt Au (14.72 g/t) 1.217 opt Ag (41.73 g/t) over 37 ft (11.2m)

VIRGINIA CITY, NV (March 08, 2016) - Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) is pleased to announce today, some of the highest grade and thickest gold and silver core intercepts, to date, from the higher-grade mineralization hosted in the Quartz Porphyry mass (“PQ Target”). These results represent the completion of the first phase of underground exploration and illustrate an increase in mineralization thickness, grade quality, and continuity as exploration has continued north in this highly-mineralized corridor.  

figure1

Figure 1

These intercepts are currently being modeled to provide grade shells that will contribute to an underground mine plan for the broader Lucerne mineralized resource (Figure 1). 

Corrado De Gasperis, President & CEO, commented: “Initially, drilling from bays 1 & 2 of the PQ Target produced exceptional grades mainly defined by thin widths but as we continue to drill north of the Succor vein, we have continuously identified higher-grade intercepts of thicker widths, consistent with our expectations and strongly supporting continued northerly exploration.  We have defined a second phase of efficient drilling, enabled by our new underground drifts, extending north for evaluation of the PQ and Woodville targets and east for the Succor target.”

In September 2015, the Company began construction of the Harris Portal and Drift on the floor of the Lucerne Mine with two objectives. First, the Harris Drift provides a central platform within Lucerne’s broader geological corridor to conduct an underground drilling and exploration program, targeting a three quarter mile long mineralized corridor that includes the PQ target, Woodville, Succor/Holman and high-grade Chute zone systems. Second, the Harris Drift could also potentially serve as a central haulage level depending on the overall drill results and resultant mine plans.

The initial phase included approximately 12,400 feet of diamond core drilling that is in the form of ‘fans’ that comprise a group of holes having different dips (between -50 and +40 degrees from horizontal). Each drill bay has two or three fans of drill holes extending into the primary target. The core locations and orientations were specifically designed to infill and expand the areas of known, higher-grade mineralization identified from previous surface drilling programs.

The core holes from the first four drill bays were designed to evaluate the southern lobes of the quartz porphyry, and the extent of the fractured and veined environment lying beyond and to the south. The initial drill bays also included a group of holes that targeted and penetrated the Succor structural intersection. In general, the initial southerly oriented drill holes intersected more narrow (2 to 10 feet thick) zones of higher-grade mineralization. The subsequent intercepts continue to illustrate an increase in mineralization thickness, grade quality, and continuity as exploration continues north in this highly mineralized corridor.  The intercepts also tend to lie along the margins of a second, previously un-described intrusive mass of material that is proving more consistent higher-grade results.

The following significant drill intercepts are selected highlights from drill bay 6 only. Additional Lucerne drilling highlights from drill bay 6, totaling 25 intercepts, including those summarized below, can be found in the latter part of this release (Table 1). 

Drill Bay Six Highlights

  • LUGC15-032: 0.429 opt Au (14.72 g/t) and 1.217 opt Ag (41.73 g/t) over 37 ft. (11.3 m).
    • Includes 1.116 opt Au (38.26 g/t) and 2.496 opt Ag (85.55 g/t) over 7 ft. (2.1 m).
    • Includes 0.668 opt Au (22.88 g/t) and 1.141 opt Ag (39.13 g/t) over 8 ft. (2.4 m).
  • LUGC16-043: 0.384 opt Au (13.17 g/t) and 0.858 opt Ag (29.41 g/t) over 20 ft. (6.0 m).
    • Includes 0.473 opt Au (16.22 g/t) and 0.865 opt Ag (29.65 g/t) over 15 ft. (4.5 m).
  • LUGC16-047: 0.894 opt Au (30.65 g/t) and 0.280 opt Ag (9.60 g/t) over 3 ft. (0.9 m)
  • LUGC16-048: 0.321 opt Au (10.99 g/t) and 11.55 opt Ag (395.95 g/t) over 5 ft. (1.5 m)
    • Includes 0.404 opt Au (13.85 g/t) and 17.700 opt Ag (606.79 g/t) over 2.5 ft. (0.8 m)
  • LUGC16-048: 0.346 opt Au (11.85 g/t) and 0.737 opt Ag (25.28 g/t) over 17.5 ft. (5.3 m).
    • Includes 0.352 opt Au (12.07 g/t) and 0.623 opt Ag (21.34 g/t) over 10 ft. (3.0 m).
    • Includes 0.640 opt Au (21.94 g/t) and 0.666 opt Ag (22.81 g/t) over 2.5 ft. (0.8 m).
  • LUGC16-049: 0.716 opt Au (24.56 g/t) and 1.003 opt Ag (34.4 g/t) over 10 ft. (3.0 m).

Mr. De Gasperis continued: “These intercepts reflect the higher grade epithermal mineralization the Comstock is known for and, not coincidently are being targeted by us in the historic Succor and Woodville systems.  Historical production grades from the Succor and Woodville mines averaged over 0.650 and 0.900 opt Au, respectively.”

Table 1

Drill Bay

Hole

From (ft.)

To (ft.)

Interval (ft.)

Au      opt

Ag      opt

From (m)

To          (m)

Interval (m)

Au        g/t

Ag         g/t

AuEq        Oz.

6

LUGC15-029

62.0

63.0

1.0

1.598

16.200

18.9

19.0

0.3

54.78

555.37

1.806

 

6

LUGC15-032

233.0

237.5

4.5

0.102

1.896

71.0

72.4

1.4

3.50

65.00

0.126

 

LUGC15-032

247.0

253.0

6.0

0.173

2.909

75.3

77.1

1.8

5.93

99.72

0.210

 

Includes

250.5

253.0

2.5

0.299

3.600

76.4

77.1

0.8

10.25

123.41

0.345

 

LUGC15-032

263.0

300.0

37.0

0.429

1.217

80.2

91.4

11.3

14.72

41.73

0.445

 

Includes

263.0

270.0

7.0

1.116

2.496

80.2

82.3

2.1

38.26

85.55

1.148

 

Includes

286.0

294.0

8.0

0.668

1.141

87.2

89.6

2.4

22.88

39.13

0.682

 

6

LUGC15-039

170.5

185.0

14.5

0.092

1.835

52.0

56.4

4.4

3.16

62.92

0.116

 

LUGC15-039

212.0

216.5

4.5

0.100

0.359

64.6

65.8

1.4

3.43

12.29

0.105

 

LUGC15-039

224.0

248.0

24.0

0.184

0.500

68.3

75.6

7.3

6.29

17.14

0.190

 

Includes

234.0

237.0

3.0

0.414

0.671

71.3

72.2

0.9

14.19

23.00

0.423

 

6

LUGC16-043

156.0

163.5

7.5

0.157

0.488

47.5

49.7

2.3

5.38

16.72

0.163

 

LUGC16-043

175.0

188.0

13.0

0.323

0.700

53.3

57.3

4.0

11.08

24.01

0.332

 

Includes

181.0

188.0

7.0

0.506

0.668

55.2

57.3

2.1

17.35

22.89

0.515

 

LUGC16-043

198.0

218.0

20.0

0.384

0.858

60.4

66.4

6.1

13.17

29.41

0.395

 

Includes

198.0

213.0

15.0

0.473

0.865

60.4

64.9

4.6

16.22

29.65

0.484

 

6

LUGC16-045

61.0

66.0

5.0

0.091

0.309

18.6

20.1

1.5

3.12

10.59

0.095

 

LUGC16-045

145.0

149.0

4.0

0.126

0.887

44.2

45.4

1.2

4.32

30.39

0.137

 

6

LUGC16-047

92.0

95.0

3.0

0.894

0.280

28.0

29.0

0.9

30.65

9.60

0.898

 

LUGC16-047

203.0

223.5

20.5

0.149

0.604

61.9

68.1

6.2

5.11

20.71

0.157

 

LUGC16-047

241.5

245.5

4.0

0.332

0.793

73.9

74.8

1.2

11.38

27.19

0.342

 

LUGC16-047

248.0

249.0

1.0

0.290

0.805

75.6

75.9

0.3

9.94

27.60

0.300

 

LUGC16-047

251.0

252.0

1.0

0.248

1.138

76.5

76.8

0.3

8.50

39.01

0.263

 

LUGC16-047

305.0

318.5

13.5

0.160

0.314

93.0

97.1

4.1

5.49

10.77

0.164

 

Includes

305.0

309.0

4.0

0.267

0.394

93.0

94.2

1.2

9.15

13.51

0.272

 

6

LUGC16-048

96.5

101.5

5.0

0.321

11.550

29.4

30.9

1.5

10.99

395.95

0.469

 

Includes

96.5

99.0

2.5

0.404

17.700

29.4

30.2

0.8

13.85

606.79

0.631

 

LUGC16-048

149.5

167.0

17.5

0.346

0.737

45.6

50.9

5.3

11.85

25.28

0.355

 

Includes

149.5

159.5

10.0

0.352

0.623

45.6

48.6

3.0

12.07

21.34

0.360

 

Includes

164.5

167.0

2.5

0.640

0.666

50.1

50.9

0.8

21.94

22.81

0.649

 

LUGC16-048

176.0

181.0

5.0

0.169

0.788

53.6

55.2

1.5

5.79

27.01

0.179

 

LUGC16-048

280.0

286.0

6.0

0.126

1.015

85.3

87.2

1.8

4.32

34.78

0.139

 

6

LUGC16-049

134.0

135.0

1.0

0.266

10.200

40.8

41.1

0.3

9.12

349.67

0.397

 

LUGC16-049

177.5

183.0

5.5

0.236

0.515

54.1

55.8

1.7

8.09

17.66

0.243

 

LUGC16-049

185.0

195.0

10.0

0.716

1.003

56.4

59.4

3.0

24.56

34.40

0.729

Reported values are from American Assay Labs (AAL) and Inspectorate American Corporation (Inspectorate) in Reno, NV
AAL and Inspectorate lab methods include standard fire assay with ICP finish and gravimetric finish per each labs internal protocols. Gold Equivalent ratio based on gold to silver price ratio of 78:1 Ag:Au.

About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, Including concurrent and accelerated reclamations, soil sampling, voluntary air monitoring, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating 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 validating qualified resources and reserves (proven and probable) from our first two resource areas, Lucerne and Dayton, and significantly grow 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; productivity, business process, rationalization, investment, acquisition, consulting, operational, tax, financial and capital projects and initiatives; restructuring, recapitalization and other capital structure modifications; capital raising; 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

 

 

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.

 

Judd Merrill
Chief Financial Officer
Tel (775) 847-7325
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

 
Wednesday, February 24, 2016

Comstock Mining Announces Additional High-Grade Intercepts and Succor Breakthrough
Includes 0.823 opt Au (28.23 g/t) over 36.5 ft. and separately 7.500 opt Ag (257.11g/t) over 5 ft.

VIRGINIA CITY, NV (February 24, 2016) - Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) is pleased to provide additional updates on the first phase of the Company’s Lucerne underground exploration activities, located in the historic Comstock District in Northern Nevada.  The Company continues to define high-grade mineralization in the Quartz Porphyry mineralized mass (“PQ Target”), of increasing lengths, positioned in the center of the Lucerne geological corridor and mineral resources (Figure 1).

22316 fig1Figure 1

Corrado De Gasperis, President & CEO, commented: “We continue encountering longer and higher grade mineralized intercepts as we move north past the Succor intersection and beyond. We see this trend continuing and we are analyzing these results towards new, high-grade reserves.”
The following significant drill intercepts are selected highlights from the fifth drill bay only. Additional Lucerne drilling highlights 24 intercepts from drill bay 5, including those summarized below, are available in the latter part of this release (Table 1).

Drill Bay Five

  • LUGC15-038 0.823 opt Au (28.23 g/t) 0.820 opt Ag (28.12 g/t) over 36.5 ft.
    • Includes 0.487 opt Au (16.71 g/t) 0.756 opt Ag (25.91 g/t) over 9 ft.
    • Includes 1.831 opt Au (62.77 g/t) 1.117 opt Ag (38.30 g/t) over 13 ft.
  • LUGC15-023 0.183 opt Au (6.27 g/t) 1.419 opt Ag (48.63 g/t) over 10 ft.
    • Includes 0.271 opt Au (9.29 g/t) 2.149 opt Ag (73.67 g/t) over 5 ft.
  • LUGC15-026 0.130 opt Au (4.45 g/t) 4.164 opt Ag (142.73 g/t) over 8.5 ft.
  • LUGC15-030 0.120 opt Au (4.11 g/t) 4.782 opt Ag (163.95 g/t) over 8.5 ft.
  • LUGC15-030 0.136 opt Au (4.66 g/t) 1.620 opt Ag (55.55 g/t) over 8.5 ft.
    • Includes 0.317 opt Au (10.87 g/t) 2.315 opt Ag (79.35 g/t) over 2 ft.
  • LUGC15-033 0.144 opt Au (4.94 g/t) 4.607 opt Ag (157.94 g/t) over 4 ft.
  • LUGC15-033 0.276 opt Au (9.47 g/t) 1.422 opt Ag (48.74 g/t) over 12 ft.
    • Includes 0.310 opt Au (10.61 g/t) 1.399 opt Ag (47.94 g/t) over 8 ft.
  • LUGC15-035 0.450 opt Au (15.43 g/t) 7.000 opt Ag (239.97 g/t) over 3.5 ft.
  • LUGC15-035 0.711 opt Au (24.37 g/t) 1.858 opt Ag (63.70 g/t) over 18 ft.
    • Includes 0.939 opt Au (32.20 g/t) 2.414 opt Ag (82.74 g/t) over 13 ft.
  • LUGC15-040 0.626 opt Au (21.46 g/t) 1.493 opt Ag (51.18 g/t) over 1 ft.
  • LUGC15-040 0.290 opt Au (9.94 g/t) 2.407 opt Ag (82.51 g/t) over 5.5 ft.
    • Includes 0.340 opt Au (11.66 g/t) 3.900 opt Ag (133.70 g/t) over 3 ft.
  • LUGC15-040 0.531 opt Au (18.20 g/t) 0.507 opt Ag (17.38 g/t) over 4.5 ft.
  • LUGC16-042 0.240 opt Au (8.23 g/t) 7.500 opt Ag (257.11 g/t) over 5 ft.


22316 fig2Figure 2

Mr. De Gasperis continued: “The Succor crosscut (see Figure 2) also reached its objective of breaking through to historic Succor mine workings, placing us exactly where we need to be for the most efficient drilling of these high-grade mineral targets. We believe the results to date, when combined with the expanded Succor target, will contribute higher-grade reserves and ultimately, a mine plan for this corridor.”

Table 1

Drill Bay

Hole

Intervals
From-To

Length (ft.)

Au
opt

Au
g/t

Ag
 opt

Ag
g/t

Au
Equiv. Oz.

5

LUGC15-023

23-33

10.0

0.183

6.27

1.419

48.63

0.201

 

Includes

23-28

5.0

0.271

9.29

2.149

73.67

0.299

                 
 

5

LUGC15-026

245-253.5

8.5

0.130

4.45

4.164

142.73

0.183

                 
 

5

LUGC15-030

133-141.5

8.5

0.120

4.11

4.782

163.95

0.181

5

LUGC15-030

194.5-210

15.5

0.116

3.98

0.482

16.52

0.122

5

LUGC15-030

250-254

4.0

0.115

3.94

0.965

33.08

0.127

5

LUGC15-030

261-264

3.0

0.174

5.97

0.207

7.10

0.177

5

LUGC15-030

267-275.5

8.5

0.136

4.66

1.620

55.55

0.157

 

Includes

267-269

2.0

0.317

10.87

2.315

79.35

0.347

5

LUGC15-030

313-317

4.0

0.099

3.39

0.843

28.90

0.110

5

LUGC15-030

319-322

3.0

0.100

3.43

0.219

7.51

0.103

                 
 

5

LUGC15-033

124-129

5.0

0.085

2.91

2.456

84.18

0.116

5

LUGC15-033

136-140

4.0

0.144

4.94

4.607

157.94

0.203

5

LUGC15-033

198-210

12.0

0.276

9.47

1.422

48.74

0.294

 

Includes

198-206

8.0

0.310

10.61

1.399

47.94

0.327

                 
 

5

LUGC15-035

99.5-103

3.5

0.450

15.43

7.000

239.97

0.540

5

LUGC15-035

167-185

18.0

0.711

24.37

1.858

63.70

0.735

 

Includes

167-180

13.0

0.939

32.20

2.414

82.74

0.970

                 
 

5

LUGC15-037

20-25

5.0

0.113

3.86

1.473

50.50

0.131

                 
 

5

LUGC15-038

221.5-258

36.5

0.823

28.23

0.820

28.12

0.834

 

Includes

226-235

9.0

0.487

16.71

0.756

25.91

0.497

 

Includes

240-253

13.0

1.831

62.77

1.117

38.30

1.845

 

Includes

251-252

1.0

Void

       
                 
 

5

LUGC15-040

7-8

1.0

0.626

21.46

1.493

51.18

0.645

5

LUGC15-040

194.5-200

5.5

0.290

9.94

2.407

82.51

0.321

 

Includes

194.5-197.5

3.0

0.340

11.66

3.900

133.70

0.390

5

LUGC15-040

223.5-228

4.5

0.531

18.20

0.507

17.38

0.538

5

LUGC15-040

252-265.5

13.5

0.154

5.29

0.130

4.45

0.156

                 
 

5

LUGC16-042

5-10

5.0

0.240

8.23

7.500

257.11

0.336

                 
 

5

LUGC16-044

106-111

5.0

0.098

3.36

2.284

78.30

0.127

5

LUGC16-044

116-120

4.0

0.094

3.22

1.908

65.41

0.118

5

LUGC16-044

161-167

6.0

0.178

6.10

1.936

66.36

0.203

Reported values are from American Assay Labs (AAL) and Inspectorate American Corporation (Inspectorate) in Reno, NV
AAL and Inspectorate lab methods include standard fire assay with ICP finish and gravimetric finish per each labs internal protocols. Gold Equivalent ratio based on gold to silver price ratio of 78:1 Ag:Au.

About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, includes concurrent and accelerated reclamations, soil sampling, voluntary air monitoring, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating 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 validating qualified resources and reserves (proven and probable) from our first two resource areas, Lucerne and Dayton, and significantly grow 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 (includes implementation of methodologies and changes in the board of directors; productivity, business process, rationalization, investment, acquisition, consulting, operational, tax, financial and capital projects and initiatives; restructuring, recapitalization and other capital structure modifications; capital raising; 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

 

 

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.

 

Judd Merrill
Chief Financial Officer
Tel (775) 847-7325
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Wednesday, February 3, 2016

Comstock Mining Receives Permit Approvals for Future Heap Leach Expansions
Enables Processing of Underground Materials

Virginia City, NV (February 3, 2016) -- Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) announced today that the Nevada Division of Environmental Protection Bureau of Mining Regulation and Reclamation (NDEP-BMRR) has issued a Notice of Decision (NoD) approving a Major Modification to the Company's Water Pollution Control Plan for various expansions of the heap leach facility.  This modification authorizes the construction of “Cell 10,” located adjacent to and north of the existing leaching operation, and also identifies multiple, future heap leach pad expansions, south and southwest of the existing heap leach pad and existing facilities.  The modification also allows both surface and underground mine processing at the heap leach facility. 

Corrado De Gasperis, President & CEO, commented: “This proactive permitting authorizes significant future heap leach capacity on our existing private lands.  These approvals provide us all of the leaching capacity needed for the foreseeable future.”

The approved Cell 10 addition, the Company’s largest leach pad design to date, will provide an estimated 2.9 million tons of additional capacity.  It also allows for phased construction, at the Company’s preference, with an ultimate footprint of 12.27 acres.

Unique to this modification is the identification and inclusion of future expansions for Cells 11 and 12, located adjacent to and southwest of the existing facilities. Those potential expansions would cover approximately 90 acres of land located entirely within the Company’s private property.

Mr. De Gasperis concluded: “During the past year and half, we have expanded our land position, re-zoned the lands for both mining and non-mining uses, expanded our permits and eliminated substantially all material future royalties on those lands.  These enhancements dramatically increase flexibility, minimize or eliminate lead times, and reduce future risks and costs.”

About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, including concurrent and accelerated reclamations, soil sampling, voluntary air monitoring, cultural asset protection and historical restorations.  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 acquiring additional properties in the district, expanding its footprint and creating 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 validating qualified resources and reserves (proven and probable) from our first two resource areas, Lucerne and Dayton, and significantly grow 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); future mine planning and resource estimation; capital expenditures and their impact on us; productivity, business process, rationalization, investment, acquisition, consulting, operational, tax, financial and capital projects and initiatives; contingencies; environmental compliance and changes in the regulatory environment; 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

 

 

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.

 

Judd Merrill
Chief Financial Officer
Tel (775) 847-7325
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
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