>

Comstock Mining Inc

Pure Comstock Silver Nevada Sesquicentennial Medallion This limited edition medallion commemorates Nevada’s Sesquicentennial and is the first substantial minting of Comstock Silver since the Carson City Mint closed in 1893.
Comstock Benefits
Comstock Foundation
Pure Comstock Silver Nevada Sesquicentennial Medallion

NYSE MKT: LODE
Note: stock price above is delayed

Kitco Kitco

Comstock Mining Inc
Press Releases
Friday, December 4, 2015

Comstock Mining Completes State Route Realignment Ahead of Schedule

Virginia City, NV (December 4, 2015) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE), announced today that the realignment of State Route 342 (SR 342) was completed earlier this week. SR 342 passed all relevant Nevada Department of Transportation (NDOT) inspections and has been reopened for public use.

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 also provides a safer and more efficient passage for ongoing mining operations.  The Company also achieved significant environmental and reclamation objectives and completed the project under the original $3 million budget. 
 
The SR 342 realignment and historic environmental remediation has been completed in collaboration with the Nevada Department of Transportation (NDOT), U.S. Army Corp. of Engineers (USACE), the Nevada Division of Environmental Protection (NDEP) and the U.S. Environmental Protection Agency (EPA). 
 
These improvements will enhance the quality of life on the Comstock and reduce costs to the state and local municipalities, and thus, taxpayers.
 
Corrado De Gasperis, President & CEO, commented, “Genuine, fundamental sustainability is philosophically embedded in our ‘Comstock Responsible’ culture that helped enable the complex network of regulatory cooperation and true public-private partnerships.  These alliances made completing the road ahead of schedule and under budget possible.  These sustaining improvements in the quality of life on the Comstock, could not have been possible without the communities in both Storey and Lyon Counties, the Nevada Division of Environmental Protection, Bureau of Corrective Actions; the U.S. Army Corps of Engineers; the Nevada Dept. of Transportation; the State Historic Preservation Office; McGinley & Associates; Debra Lemke; RCI; the U.S. Army Corp of Engineers, and the Comstock Mining team who, all together, made this unprecedented achievement possible.”

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
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.

 
Tuesday, November 24, 2015

Comstock Mining Completes First Phase of New Lucerne Underground “Harris Portal”

Virginia City, NV (November 24, 2015) -- Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) announced that, on Friday, November 20, 2015, in conjunction with American Mining and Tunneling LLC (“AMT”), it has completed construction of the first phase of the entire 800 foot underground exploration drift (“Harris Portal”) at the north end of the existing Lucerne Surface Mine.  

http://www.comstockmining.com/files/flipbooks/PQTarget/

The Company had previously completed extensive geological development and modeling, including analysis of surface drill hole results, metallurgy, proximity to the current Lucerne Mine floor, and historic mining data.  This resulted in a highly detailed geologic model for the Lucerne. The work confirmed that the lode is comprised of a group of northwest trending, sub-parallel, high-grade, mineralized structures. This structural group coalesces into a single zone in the central part of the East-side area and diverges to the north and south creating a possible structural corridor up to 600-feet. The Company also discovered dike-like masses of quartz porphyry (PQ) that have intruded into the main lode and have a direct relationship to the known mineralization.  Additionally, early this year, the Company completed extensive surface drilling on the Succor and Holman mineral patents, where structures have close proximity and potentially intersect with the PQ mass.

The first phase of the tunnel development was targeted at 800 feet and scheduled for completion by year-end. The first phase also includes approximately 20,000 feet of diamond-core and reverse circulation (R/C) definition drilling, both being closely coordinated with the drift development. Previously disclosed drill data from this PQ structure include 46 intercepts of at least 10 feet that have a grade, on average, of over 0.23 ounces of gold per ton and over 1.71 ounces of silver per ton.  The Succor vein system is being considered as an easterly extension of the first phase of development beyond the high-grade PQ target. 

Corrado De Gasperis, President & CEO, commented, "Our teams have now completed the targeted 800 foot segment of the Lucerne exploration drift about two weeks ahead of schedule and drilling activities are now moving into the heart of the PQ mass.  We have also recently identified an efficient path to connect the PQ development with the intersecting high-grade Succor vein system that we are incorporating into our development plans.  The Succor had historic production with grades greater than 0.65 ounces per ton of gold and represents an attractive addition to our underground targets.”

The Company remains on plan to invest approximately $3 million for the first phase, including the portal, drift, drilling, and certain related infrastructure for the Lucerne underground exploration and development project, scheduled for completion this December.

Corrado De Gasperis concluded: "We remain ahead of schedule on the first phase of the Lucerne underground exploration campaignboth in terms of time and budget, and we are evaluating the high-grade Succor vein system as an addition to our first phase of this exploration campaign, in advance of the Woodville. We are looking forward to updating and reporting on the drilling and advancement of this project frequently throughout year-end and into the first quarter.”

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 delays or disruptions in construction or production; 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
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, October 22, 2015

Comstock Mining Announces Third Quarter 2015 Results
Simplifies Capital Structure, Lowers Obligations and Accelerates Development

Virginia City, NV (October 22, 2015) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced selected unaudited financial results for the fiscal quarter ended September 30, 2015.

Strategic Highlights

  • Restructured and simplified the overall capital structure, eliminating all preferred stock, special rights and PIK dividends and permanently reducing land obligations and royalties.
  • Permitted, commenced and advanced the Lucerne underground “Harris” portal and drilling.
  • Encountered significant high-grade gold and silver intercepts in the Dayton Drill Program.
  • Received the “Nevada Excellence in Mine Reclamation” for Keystone mine restoration.
  • Recognized, along with the Comstock Foundation for History & Culture for “Outstanding Rehabilitation of the Historic Upper Yellow Jacket Hoist Works.”
  • Achieved year-over-year cost savings of $6.7 million for the nine months ended September 30, 2015, and, coupled with the recently completed restructuring activities, remain on track to save $10 million for the full year 2015, as compared to full year 2014.
  • Partnered with American Mine and Tunneling LLC and American Drilling Corp, LLC to commence key underground development and drilling access to the PQ and Woodville structures.
  • Strengthened the balance sheet, raising $6 million for the drilling and development of the Lucerne underground program, and prerequisite planning for the next phase of Dayton drilling.

Selected Financial Highlights - Nine-months Ended September 30, 2015

  • Mining revenue was $15.7 million for the nine months ended September 30, 2015, as compared to $18.1 million for the same period in 2014, a decrease of 13%, resulting from lower average price per ounce of gold realized and lower production.
  • Costs applicable to mining revenue were $10.4 million for the nine months ended September 30, 2015, as compared to $14.6 million, net of silver credits, for the same period in 2014, a decrease of 29%, primarily due to mining cost reductions, resulting in a gross margin of 34%.
  • General and administrative expenses were $5.1 million for the nine months ended September 30, 2015, as compared to $5.2 million for the same period in 2014, a decrease of 2%.
  • Net loss was $4.5 million, for the nine months ended September 30, 2015, as compared to a net loss of $8.3 million, for the same period in 2014. The $3.7 million improvement resulted primarily from $4.0 million in lower mining and operating costs offset by higher exploration and development for Lucerne and Dayton, SR-342 realignment, severance and lower revenues.
  • Net cash generated by operating activities was $0.4 million for the nine months ended September 30, 2015, as compared to a net cash use of $2.6 million in 2014, a 117% improvement.
  • Excluding the road realignment cost of $1.7 million, net cash generated by operating activities was $2.1 million for the nine months ended September 30, 2015.
  • Net cash used for investing was $4.8 million for the nine months ended September 30, 2015, including $2.8 million for land and $1.9 million for property, primarily for leach pad expansions.
  • Debt and capital lease obligations totaled $15.8 million at September 30, 2015, including $2.8 million outstanding on the revolving credit facility.  
  • Cash and cash equivalents at September 30, 2015 were $2.5 million.

Selected Financial Highlights - Three-months Ended September 30, 2015

  • Mining revenue was $4.3 million in Q3 2015 as compared to $6.5 million in Q3 2014. The decrease resulted from lower average price per ounce of gold realized and lower production.
  • Costs applicable to mining revenue were $3.5 million in Q3 2015, as compared to $4.4 million, net of silver credits, in Q3 2014, a 21% decrease primarily due to mining cost reductions.
  • Mine claims and costs decreased by $0.4 million in Q3 2015, as compared to Q3 2014.
  • Exploration and mine development costs increased by approximately $0.7 million in Q3 2015, as compared to Q3 2014.  The increase is for the underground drift-mining and drilling for the first geological target (“PQ target”) in Lucerne and for the recent Dayton drilling program.
  • Net loss was $4.3 million, for Q3 2015, as compared to a net loss of $1.0 million, for Q3 2014. The $3.3 million increase resulted from a $2.4 million decrease in revenue and a $0.7 million decrease in net other income, offset by a net increase in all other costs, including the SR-342 road realignment and Lucerne and Dayton exploration and development costs.
  • Net cash generated by operating activities was $0.1 million for Q3 2015.
  • Excluding the road realignment cost of $0.8 million, net operating cash generated for Q3 2015, was $0.9 million.

Third Quarter and Year to Date 2015 Selected Operational Highlights

  3Q 2015 2Q 2015 1Q 2015 YTD 2015 3Q 2014 2Q 2014 1Q 2014 YTD 2014
Mining Operations
Tons Mined 140,415 254,856 316,199 711,470 1,131,985 944,166 947,852 3,024,003
 
Processing
Tons Crushed 104,286 211,942 157,612 473,840 191,013 122,026 205,686 518,725
 
Weighted Average Grade Per Ton Au 0.021 0.030 0.039 0.031 0.026 0.034 0.024 0.027
Weighted Average Grade Per Ton Ag 0.573 0.654 0.734 0.663 0.564 0.546 0.345 0.473
 
Estimated Au Ounces Stacked 2,240 6,438 6,083 14,761 4,926 4,191 5,016 14,133
Estimated Ag Ounces Stacked 59,717 138,639 115,689 314,045 107,822 66,607 70,989 245,418
Estimated Au Equivalent* Ounces Stacked 3,034 8,344 7,669 19,047 6,584 5,205 6,140 17,929
 
Au Ounces Poured and Sold 3,847 4,575 4,695 13,117 5,002 4,763 4,507 14,272
Ag Ounces Poured and Sold 62,480 60,112 56,482 179,074 61,096 48,626 49,358 159,080
Au Equivalent* Ounces Poured 4,678 5,400 5,470 15,548 5,936 5,499 5,290 16,725
 
* Au Equivalent ounces = Au ounces (actual) + (Ag ounces (actual) ÷ the ratio of average gold to silver prices) 75.27 72.73 72.91 73.63 65.03 65.69 63.14 64.62

Nine-months ended September 30, 2015

  • Metallurgical yields improved to 81%, from an average of 77% in the first nine months of 2014.
  • Weighted average gold grades improved 15%, to 0.031 opt, from 0.027 opt in the first nine months of 2014. The Company sold 13,117 ounces of gold in the first nine months of 2015.
  • Weighted average silver grades improved 40%, to 0.663 opt, from 0.473 opt in the first nine months of 2014.  The Company sold 179,074 ounces of silver in the nine months of 2015.
  • Silver to gold production exceeded a 13:1 ratio, from 11:1 in the first nine months of 2014.
  • Strip ratio improved to 0.35:1 for Q3 2015, down from the full year 2014 average of 4.8:1.

Three-months ended September 30, 2015

  • Metallurgical yields have sustained at 81% throughout 2015.
  • Weighted average gold grades decreased to 0.021 from 0.026 opt in Q3 2014.
  • Weighted average silver grades improved 2%, to 0.573 opt, from 0.564 opt in Q3 2014.
  • Silver to gold production exceeded a 16:1 ratio, from 12:1 in Q3 2014.

Corrado De Gasperis, President & CEO, commented, “The achievements this year have been foundational, expanding our lands and all major permits, achieving low cost production by improving every major variable from grade to yields to strip ratios to fundamental cost and project management.  We are well into the transition with the underground drift now reaching 500 feet and the fourth drill station under development and we are looking forward to testing some high-grade material on the leach pad as early as this (fourth) quarter.”

Production
Metal pours totaled 3,847 ounces of gold and 62,480 ounces of silver, during the third quarter of 2015. The Company crushed and stacked approximately 104,000 dry tons of mineralized material, delivering 2,240 estimated ounces of recoverable gold and 59,717 estimated ounces of recoverable silver to the leach pads with weighted average gold grades of 0.021 ounces per ton.

For the nine-month period ended September 30, 2015, the Company realized an average sales price of $1,212.03 per ounce of gold and $15.96 per ounce of silver. In comparison, commodity market prices in the same period of 2015 averaged $1,178.69 per ounce of gold and $16.02 per ounce of silver.

For the quarter ended September 30, 2015, the Company realized an average sales price of $1,116.44 per ounce of gold and $14.83 per ounce of silver. In comparison, commodity market prices in the third quarter of 2015 averaged $1,124.01 per ounce of gold and $14.93 per ounce of silver.

Operating Costs and Cost Reductions
During the three months ended September 30, 2015, actual Lucerne Mine costs applicable to mining revenue were approximately $4.4 million ($3.5 million net of silver by-product credits) as compared to $5.5 million ($4.4 million net of silver by-product credits) for the three months ended September 30, 2014, representing a 21% reduction of net costs applicable to mining revenue.

During the first nine months of 2015, actual Lucerne Mine costs applicable to mining revenue were $13.2 million ($10.4 million net of silver by-product credits) as compared to $17.8 million ($14.6 million net of silver by-product credits) for the first nine months of 2014, representing a 25% reduction in costs applicable to mining when comparing the first nine months of 2015 to the same period of 2014. These costs applicable to mining revenue for the first nine months of 2015 and 2014 also include depreciation of $4.6 million and $3.9 million, respectively.

During the first nine months of 2015, the Company continued reducing costs applicable to mining revenue, targeting $7 million in reductions this year as compared to 2014. The Company has already realized $4.2 million of savings from reduced labor, drilling, and blasting and fuel and $1.7 million of cost reductions in non-mining activities in the first nine months of 2015, as compared to the same period in 2014. The Company has also identified $3.0 million of potential cost reductions in all other non-mining activities, including general, administrative, and environmental areas.  The Company incurred approximately $0.7 million in severance costs during the first nine months of 2015, in mining and general and administrative expenses, associated with organizational cost reductions.  The Company is on track to achieve its stated costs savings target.

SR-342 Realignment and Extraction of Existing Mine Dumps
In early February, the Nevada Department of Transportation, (NDOT), closed an approximate two-mile section of SR-342, south of Gold Hill, as a safety precaution following roadway cracking and area specific sinking during a weekend of heavy rains.

The realignment project has two major phases. Phase 1 of the project, realigning a portion of the state route away from the historic Silver Hill Shaft and permanently capping that historic shaft was completed on June 1, 2015, about one week ahead of the original schedule.

Phase 2 of the project, realigns the remaining portion of the road, removes additional loose dump fill and related material on the east side of the roadway and ties back into the south end of the newly constructed (Phase 1) alignment. The latter part of Phase 2 also includes plans for a restoration and stabilized storm water flow, post construction.  The project is scheduled for early completion in November 2015, with an estimated remaining cost of approximately $1 million.

In addition, during the latter part of 2014, the geological and environmental teams undertook a systematic evaluation of historic mine dumps throughout most of the central part of the District. Overall, we identified approximately 640,000 tons of mineralized dump materials. Of that total, approximately 450,000 tons were located underneath and to the east of State Route 342, with an average grade between 0.025-0.035 opt Au. These tons are being extracted as part of the SR-342 re-alignment, and stacked onto the leach pad for processing providing a significant environmental remediation and a meaningful contribution to operations and production schedule.

Lucerne Exploration and Underground Development
The Company completed extensive geological development and modeling, including analysis of surface drill hole results, metallurgy, proximity to the current Lucerne Mine floor, and past mining data.  This resulted in highly detailed geologic level plans and cross sectional analysis for the Lucerne East-side. The work confirmed that the lode is comprised of a group of northwest trending, sub-parallel, higher-grade, mineralized structures, rather than a simple vein system confined to a single fault zone. These structural groups coalesce into a single zone in the central part of the East-side area and diverge to the north and south to create zones up to 600-feet wide. The Company also discovered dike-like masses of quartz porphyry (PQ) that have intruded into the main lode and have a direct relationship to the known mineralization.

Out of this extensive geologic work, a definitive underground exploration and development target emerged, specifically that part of the lode occupied by the mineralized mass of PQ, as well as the neighboring structures.

In addition to the mineralized mass of PQ, we developed and defined the nearby Woodville Bonanza structures with the same diligent level plan and cross sectional development.  These geologic definitions include the same detail and historical mappings plus over 116 intercepts of at least 10 feet grading over 0.22 ounces per ton gold and 1.59 ounces of silver per ton.

The Company, on September 5, 2015, commenced developing a new underground access to the PQ structures and the almost adjacent Woodville Bonanza structures. The first phase of the tunnel development, with a planned investment of $3 million, is expected to be approximately 800 feet, running parallel to the PQ target. Development of the tunnel is progressing on schedule, reaching a linear distance of approximately 300 feet at September 30, 2015.

This phase includes approximately 20,000 feet of diamond-core definition drilling and is scheduled for completion before year-end.  Previously disclosed drill data from the PQ includes 46 intercepts of at least 10 feet that grade, on average, over 0.23 ounces of gold per ton and over 1.71 ounces of silver per ton.  Construction of the first drill platform was completed and the underground drilling of the previously discovered, dike-like masses of quartz porphyry (PQ), commenced. The objective of the program is to establish longer, higher-grade mine lives, with the ability to grow production from multiple mine sources, including both the PQ and the Woodville.

Dayton Drill Program
Surface drilling on the Company’s Dayton property, located in the southern part of the Comstock district, commenced in the first quarter of 2015. The program consisted of 408 holes totaling 30,818 feet of drilling that was completed in late September of 2015. The Company used an extremely efficient percussion drill rig, with total program costs of about $200,000, or about $6.50 per foot.

The Company also completed underground mapping and sampling from a number of historic mine tunnels. This work, together with the drilling, resulted in several important discoveries, including defining multiple, previously undefined mineralized zones and additional dike-like masses of quartz porphyry, similar to Lucerne.

The main objective of the program was to pinpoint the major surface structures (faults) and then explore these structures for mineralization.  This then enabled efficient infill drilling that further refined and resolved areas of structural complexity in the geologic models.  The program was successful in both defining and expanding the near-surface mineralization. The Company will update its geologic model based on the results of this drilling program and increase the gold and silver resource estimate. The Company is now finalizing a comprehensive drill program designed to deliver a mine plan, economic reserves and mine life.

Of the 408 holes drilled, 245 contained intercepts of 10 feet or more in length with gold grades exceeding or equal to 0.015 ounces per ton (opt.), and with an overall weighted average grade of 0.035 opt Au and 0.323 opt Ag. Out of those same 245 holes, a total of 32 contained intercepts of 10 feet or more in length with an average Au grade exceeding or equal to 0.100 opt Au., and with an overall average weighted grade of 0.148 opt Au and 0.694 opt Ag.

The underground mapping and sampling effort, together with the drilling, resulted in several important discoveries.  The most significant was defining mineralization along a previously undrilled, 600-foot segment of the Grizzly Hill Fault and additional mineralization at an intersection of the Grizzly Hill and Alhambra Faults with the Silver City fault. The Company also discovered additional dike-like masses of quartz porphyry, similar to Lucerne, that generally host significant mineralization. Finally, the drilling also helped to define extended mineralization along a 550-foot segment of the Mill Fault.

The Company also commenced metallurgical test-work on representative samples of mineralized rock types. The Company also commenced standard column tests on five surface-generated samples and one underground sample. These tests are ongoing. All samples, both from drilling and underground, were analyzed for gold and silver at the Company’s existing, on-site, industry standard, production assay lab. Ultimately, the objectives are the same as Lucerne, to establish longer, higher-grade mine lives, with the ability to grow production with yet another mine source.

The Dayton property includes the Dayton (Marble), Alhambra, Kossuth, Metropolitan and Gennessee patents representing a structurally controlled mineralized system hosted in tertiary volcanic rocks that, in terms of the overall geologic setting, is similar to the Company's Lucerne property. The properties are separated by approximately one mile along the Silver City branch of the Comstock Lode.

Corporate
Cash and cash equivalents on hand at September 30, 2015 totaled $2.5 million. Total debt and capital lease obligations at September 30, 2015, were $15.8 million as compared to $12.2 million at September 30, 2014. For the remainder of 2015, the Company plans on spending approximately $1.0 million in road and capital expenditures and approximately $1.4 million on the underground drift, drilling and some infrastructural development for the Lucerne underground mine plan development advancement. The Company also plans to pay down an additional $3.0 million in debt obligations, including $1.2 million on its revolving credit facility.

As announced on August 27, 2015, the Company successfully completed a restructuring of certain components of its capital structure, primarily associated with all series of its issued and outstanding Convertible Preferred Stock and certain obligations associated with the Northern Comstock joint venture associated with some its most important land holdings.  The Company successfully converted all of its preferred stock to common stock, eliminating the preferred stock, eliminating the special rights of the preferred stock holders, including extra voting rights, and eliminating future dividends associated with those instruments.  The Company also materially reduced future capital and royalty obligations associated with some of its highest prospective mineralized land claims contained in the Northern Comstock joint venture, from $31.05 million down to $9.75 million. These actions will also contribute to cost reduction efforts for 2015.

On October 19 2015, the Company issued 10,169,492 shares of common stock to investors at a price per share of $0.59. As a result of the offering, the Company received net cash proceeds of approximately $5.9 million.

Shares of Common Stock issued and outstanding at September 30, 2015 were 149,748,219.

Outlook
The Company has been cash flow positive from operations for the first nine months of 2015, and expects to be cash positive from operations for the full year 2015, notwithstanding weaker revenues in fourth quarter as the Company transitions from the final phase of surface mining in Lucerne to the expansion into an underground portal and drift development in Lucerne.  The Company is concurrently completing the road realignment during fourth quarter.

The Company commenced the underground drift-mining and drilling, associated with the first underground exploration phase of the PQ target, in September 2015, and expects to complete drift-sampling, drilling and ongoing metallurgical test work of the PQ target by December 2015.  The second major phase of drift-mining and drilling, currently planned for the Woodville target, is expected to be completed by April 2016.

The Company's goals for this year included minimizing operating and capital costs, including the elimination of legacy royalties and dividends, restructuring and simplifying the capital structure, eliminating and reducing certain liabilities, completing the SR-342 realignment project, currently scheduled for completion in November 2015, expanding the Lucerne exploration and development activities, primarily through the underground portal and drift development and commencing the final development phase of the Dayton Resource Area.

Mr. De Gasperis concluded, “With all the excitement around drilling the quartz porphyry mass at the Lucerne portal, we were thrilled at the magnitude of these same quartz porphyry-type discoveries in Dayton. These new discoveries have accelerated our preparation for developing these remarkable gold and silver resources into a second mine.  Both phases of Lucerne and Dayton represent remarkable exploration and development opportunities with the objective of establishing long-lived mines and higher grade reserves for mining.”
 
The Company will host a conference call today, October 22, 2015, at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time.  The live call will include a Q&A with accredited institutions, investors and analysts immediately following the prepared remarks.  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 delays or disruptions in construction or production; 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
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Monday, October 19, 2015

Comstock Mining to Receive $5.9 Million from Public Offering 

Virginia City, NV (October 19, 2015) - Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) announced today a public offering of 10,169,492 shares of its common stock.  The closing of the offering is expected to occur on October 20, 2015, subject to customary closing conditions.

The gross proceeds to the Company from the offering will be approximately $6 million, $5.9 million after deducting estimated offering expenses.  The Company intends to use the net proceeds to accelerate the drilling and development of the Lucerne underground program, accelerate planning and prerequisites for the next phase of Dayton drilling and development and general corporate purposes.

Corrado De Gasperis, President & CEO, commented, "The successful launch of the Lucerne Portal, now already well over half way towards our Phase I target of 800 feet, with two underground drill rigs operating, has enabled us to accelerate our efforts for developing these remarkable gold and silver resources.  We couldn’t be more pleased with the broad shareholder support, ensuring a faster pace of drilling and development." 

The Company has scheduled a conference call on Thursday, October 22, 2015 at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time to report results and provide a business update.

The live call will include a Q&A with accredited institutions, investors and analysts immediately following the prepared remarks.  The dial-in telephone numbers for the live audio are as follows:

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

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.

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.

 
Thursday, October 15, 2015

Comstock Mining Announces Notice of Third Quarter 2015 Results and
Business Update Conference Call

Virginia City, NV (October 15, 2015) -- Comstock Mining Inc. (“Comstock Mining” or “the Company”) (NYSE MKT: LODE) will host a conference call on Thursday, October 22, 2015 at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time to report Third Quarter 2015 results and provide a business update.

The live call will include a Q&A with accredited institutions, investors and analysts immediately following the prepared remarks. The dial-in telephone numbers for the live audio are as follows:

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

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.

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.

 

Kimberly Shipley
Manager of Investor Relations
Tel (775) 847-0545
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Monday, October 5, 2015

Comstock Mining Encounters Significant High-grade Gold and Silver Intercepts
Discovers Extensive Mineralized Masses of Quartz Porphyry

VIRGINIA CITY, NV (October 5, 2015) - Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced significant drill intercepts, both in terms of grades and thickness, resulting from the recent completion of a near-surface drill program at the Company’s Dayton Resource Area, its second largest gold and silver resource area.  The near-surface program consisted of 408 holes totaling 30,818 feet of drilling (see Figure 1) that was completed in late September of 2015. The Company used an extremely efficient percussion drill rig, with total program costs of about $200,000, or about $6.50 per foot.

The Company also completed underground mapping and sampling from a number of historic mine tunnels. This work, together with the drilling, resulted in several important discoveries, including defining multiple, previously undefined mineralized zones and additional dike-like masses of quartz porphyry, similar to Lucerne.

http://www.comstockmining.com/images/stories/press-release/Dayton-Figure1.pdf

Corrado De Gasperis, President & CEO, commented, "With all the excitement around drilling the quartz porphyry mass at the Lucerne portal, I was pleasantly surprised at the magnitude of these same quartz porphyry-type discoveries in Dayton.  These new discoveries have accelerated our preparation for developing these remarkable gold and silver resources into a second mine."

The main objective of the program was to pinpoint the major surface structures (faults) and then explore these structures for mineralization.  This then enabled efficient infill drilling that further refined and resolved areas of structural complexity in the geologic models.  The program was successful in both defining and expanding the near-surface mineralization. The Company will update its geologic model based on the results of this drilling program and increase the gold and silver resource estimate. The Company is now finalizing a comprehensive drill program designed to deliver a mine plan, economic reserves and mine life.
The most significant intercepts in terms of grade versus drilled length (grade X thickness) are summarized in Table 1. 

TABLE 1 - Drill holes with significant grade multiplied by intercept length (thickness).

Hole ID

Interval Depth

Intercept Length

Au grade (opt.)

Ag grade (opt.)

DA-119

0-60’

60 feet

0.077

0.685

DA-127

0-36’

36 feet

0.083

1.751

DA-193

30-82’

52 feet

0.066

0.408

DA-199

0-54’

54 feet

0.054

0.845

DA-200

0-82’

82 feet

0.071

0.937

DA-208

0-50’

50 feet

0.077

0.795

DA-214

20-82’

62 feet

0.048

0.663

DA-228

0-80’

80 feet

0.049

0.256

DA-232

0-82’

82 feet

0.037

0.203

DA-266

0-82’

82 feet

0.039

0.295

DA-279

0-50’

50 feet

0.065

0.261

DA-289

0-82’

82 feet

0.043

0.296

DA-292

0-82’

82 feet

0.04

0.271

DA-316

0-70’

70 feet

0.07

0.281

DA-322

0-82’

82 feet

0.054

0.564

DA-333

50-82’

32 feet

0.119

0.554

DA-344

0-70’

70 feet

0.049

0.462

DA-360

0-50’

50 feet

0.058

0.099

DA-367

70-82’

12 feet

0.266

0.437

DA-395

40-82’

42 feet

0.089

0.902

DA-403

0-82’

82 feet

0.038

0.626

DA-404

0-82’

82 feet

0.038

0.67

DA-406

0-82’

82 feet

0.044

0.323

Of the 408 holes drilled, 245 contained intercepts of 10 feet or more in length with gold grades exceeding or equal to 0.015 ounces per ton (opt.), and with an overall weighted average grade of 0.035 opt Au and 0.323 opt Ag. Out of those same 245 holes, a total of 32 contained intercepts of 10 feet or more in length with an average Au grade exceeding or equal to 0.100 opt Au., and with an overall average weighted grade of 0.148 opt Au and 0.694 opt Ag (Table 2).

TABLE 2 – Drill hole intercepts of 10 feet or greater in length with gold (Au) grades equal to or exceeding 0.100 opt.

Hole ID

Interval Depth

Intercept Length

Au grade (opt).

Ag grade (opt.)

DA-037

20-30’

10 feet

0.183

0.533

DA-099

60-70’

10 feet

0.129

0.566

DA-100

60-70’

10 feet

0.237

0.79

DA-117

20-30’

10 feet

0.1

0.557

DA-119

10-30’

20 feet

0.139

0.626

DA-127

10-20’

10 feet

0.112

1.898

DA-188

70-82’

12 feet

0.128

0.186

DA-193

60-70’

10 feet

0.164

0.7

DA-197

10-20’

10 feet

0.18

1.09

DA-199

40-54’

14 feet

0.113

1.063

DA-200

70-82’

12 feet

0.252

1.266

DA-208

0-10’

10 feet

0.143

0.899

DA-209

30-36’

6 feet

0.114

1.55

DA-212

10-20’

10 feet

0.167

0.279

DA-215

0-10’

10 feet

0.105

0.909

DA-228

50-60’

10 feet

0.219

0.485

DA-237

10-20’

10 feet

0.131

1.44

DA-260

30-35’

5 feet

0.256

1.274

DA-273

50-60’

10 feet

0.161

0.071

DA-279

0-10’

10 feet

0.143

0.538

DA-289

10-20’

10 feet

0.142

0.148

DA-290

20-30’

10 feet

0.1

0.246

DA-294

50-60’

10 feet

0.122

0.397

DA-295

10-20’

10 feet

0.107

0.603

DA-316

30-40’

10 feet

0.184

0.238

DA-318

0-10’

10 feet

0.123

0.232

DA-333

50-60’

10 feet

0.292

0.731

DA-344

0-10’

10 feet

0.161

2.155

DA-367

70-82’

12 feet

0.266

0.437

DA-369

10-20’

10 feet

0.115

0.116

DA-395

40-60’

20 feet

0.16

0.678

DA-397

40-50’

10 feet

0.108

1.158

DA-403

20-30’

10 feet

0.1

1.05

DA-404

60-70’

10 feet

0.108

1.103

Defines Near-Surface Mineralization and Extensive Dike-like Masses of Quartz Porphyry
The underground mapping and sampling effort, together with the drilling, resulted in several important discoveries.  The most significant was defining mineralization along a previously undrilled, 600-foot segment of the Grizzly Hill Fault and additional mineralization at an intersection of the Grizzly Hill and Alhambra Faults with the Silver City fault. The Company also discovered additional dike-like masses of quartz porphyry, similar to Lucerne, that generally host significant mineralization. Finally, the drilling also helped to define extended mineralization along a 550-foot segment of the Mill Fault.

http://www.comstockmining.com/images/stories/press-release/Dayton-Northwest-Topo.pdf

The Company also commenced metallurgical test-work on representative samples of mineralized rock types. Standard column tests are currently underway on five surface–generated samples and one underground sample and is ongoing. All samples, both from drilling and underground, were analyzed for gold and silver at the Company’s existing, on-site, industry standard, production assay lab.

Corrado De Gasperis, President & CEO, concluded, "These extended, thicker, higher-grade mineralized discoveries and the additional quartz porphyry discovery will expand our resource estimate, streamline our final drilling needs and progress us faster toward the commercialization of our second mine.  We are thrilled with the new discoveries and I could not be prouder of our entire team’s effort, especially the leadership of our geological team members.”

The Dayton property includes the Dayton (Marble), Alhambra, Kossuth, Metropolitan and Gennessee patents representing a structurally controlled mineralized system hosted in tertiary volcanic rocks, that, in terms of the overall geologic setting, is similar to the Company's Lucerne property. The properties are separated by approximately one mile along the Silver City branch of the Comstock Lode.

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; 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 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.

 

Kimberly Shipley
Manager of Investor Relations
Tel (775) 847-0545
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, September 28, 2015

Comstock Mining Enhances Board Governance and Committee Independence
Names De Gasperis as Executive Chairman

VIRGINIA CITY, NV (September 28, 2015) - Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced that Corrado De Gasperis has been appointed Executive Chairman of the Board, in addition to his existing responsibilities as President & CEO.  Mr. De Gasperis is assuming the role as Mr. John Winfield resigns his position as a member and Chairman of the Board.

Corrado De Gasperis, President & CEO, commented, "I join the entire board in thanking John for the past five years, for both supporting the tremendous progress made in establishing this landmark platform, where many thought it not possible, and most recently for supporting a watershed restructuring.  The restructuring strengthened our balance sheet by significantly reducing liabilities on some of our richest properties, improved our liquidity and dramatically lowered our future capital and mining costs."

The Company’s Board now consists of five members, four independent directors plus Mr. De Gasperis. Robert C. Kopple has also been elected, by the Board, as Lead Independent Director and Vice Chairman, effective immediately.

Chairman John V. Winfield commented, “I could not be prouder, despite significant obstacles, with the tremendous achievements of consolidating an unprecedented land position, properly zoned and permitted, in a world-class silver and gold district, with minimal royalty commitments and an existing low-cost operating platform while now drilling and developing multiple, high-grade targets.  These achievements, coupled with a simpler, more efficient capital structure that equally aligns all shareholders, provides a clear path for maximizing the intrinsic value of the Company’s precious metals, real estate and the unique, historical Comstock brand.”

Mr. De Gasperis concluded, "These board changes reflect the strong confidence and direct support of our largest investor in both our board and management teams for growing and maximizing value for all of our shareholders."

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; 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 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.

 

Kimberly Shipley
Manager of Investor Relations
Tel (775) 847-0545
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, September 24, 2015

Comstock Mining Advances Underground Portal
Commences Drilling of Quartz Porphyry Target

Virginia City, NV (September 24, 2015) -- Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced that construction of the underground exploration portal (“Harris Portal”) and development of the exploration drift (“tunnel”) in the existing Lucerne Surface Mine is progressing on schedule and has reached a linear distance of approximately 200 feet.  Additionally, the first drill platform has been constructed and the underground drilling of the previously discovered, dike-like masses of quartz porphyry (PQ), commenced today.

The first phase of the tunnel development, with a planned investment of $3 million, is expected to be approximately 800 feet, running parallel to the PQ target. This phase includes approximately 20,000 feet of diamond-core definition drilling and is scheduled for completion before year-end.  Previously disclosed drill data from the PQ includes 46 intercepts of at least 10 feet that grade, on average, over 0.23 ounces of gold per ton and over 1.71 ounces of silver per ton. 

The “Harris Portal” honors the memory of the Company’s former safety director, Randy Harris, who won a 2015 Nevada Mining Association's 'Outstanding Career in Safety' award. The Company has planned a dedication ceremony on Friday, September 25th, in honor of Randy and in conjunction with the commencement of drilling activities within the drift.  Federal, State and Local dignitaries will be in attendance along with the Harris family. The website link below catalogs the most recent drift development:

http://www.comstockmining.com/lucerne-underground-project

Corrado De Gasperis, President & CEO, commented, "We are pleased with the pace of development, the partnership with American Mining and Tunneling and the timely commencement of drilling activities by American Drilling. We will be updating and reporting on the status of the drilling, starting in October and frequently thereafter throughout year-end."

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.

 

Kimberly Shipley
Manager of Investor Relations
Tel (775) 847-0545
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Thursday, September 17, 2015

Comstock Mining’s Randy Harris Honored with Outstanding Career in Safety Award

Virginia City, NV (September 17, 2015) -- Comstock Mining Inc. (the “Company” or “Comstock Mining) (NYSE MKT: LODE) proudly announced that, on Saturday, September 12, 2015, the family of Randy Harris was presented with a 2015 Outstanding Career in Safety Award at the Nevada Mining Association Convention in South Lake Tahoe, Nevada. The annual award honors mining safety professionals who demonstrate exemplary careers in the industry.

Randy’s wife Marjorie Harris and his daughters, Melissa Welch, Sandy Schoenecker and Tammie Fodor, were recognized with a standing ovation from more than 400 attendees at the annual Nevada Mining Association’s Safety Award Luncheon. He was well-known and respected by all who knew him throughout his remarkable Nevada mining career.

9 16 15 a 9 16 15 b

Randy was most recently with Comstock Mining, as the company’s Director of Health and Safety. “Randy was inherently selfless, always putting others and the team ahead of himself. He had the protective gene in his DNA and was first among our team, always ensuring our safety,” stated Comstock Mining CEO Corrado De Gasperis. 

Randy’s safety career spanned more than 35 years and included working for several mining companies in northern and central Nevada.  He was a respected trainer and mentor to hundreds of professionals in the mining, fire and safety industries. He was also a former district mine inspector for the State of Nevada. De Gasperis continued, “Randy was strong in his convictions and was fiercely proud of Nevada, Nevada mining and the team. Although we miss him dearly, he is forever in our hearts.”

The Company is honoring Randy’s memory by dedicating its new underground portal, currently under development, the "Harris Portal." A dedication ceremony with invited guests, friends and family is planned for Friday, September 25th.

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.

 

Kimberly Shipley
Manager of Investor Relations
Tel (775) 847-0545
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Tuesday, September 15, 2015

Comstock Mining Receives Excellence in Mine Reclamation Award
Recognized for Outstanding Historic Rehabilitation

Virginia City, NV (September 15, 2015) -- Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) received on Saturday, September 12, 2015, the Nevada Excellence in Mine Reclamation Award. The Company received the Excellence in Mine Reclamation Award for the full restoration of the Keystone Mine, and was also recognized along with the Comstock Foundation for History and Culture (the “Foundation”), for Outstanding Rehabilitation of the historic Upper Yellow Jacket Hoist Works.  Comstock’s reclamation of the Keystone Mine, in the Comstock Lode Historic Mine District, represented a full open cut land restoration, and the emergency restoration of the Upper Yellow Jacket Hoist Works saved an iconic landscape feature on the National Landmark.  The Foundation, an established 501(c)(3) not-for profit organization dedicated to the preservation of the historic district, identified, facilitated and funded the restoration. 

This combined award and three others were presented at the Nevada Mining Association Convention. All awards were the result of unanimous decisions by the Awards Committee. Members of the committee included representatives from the USFS (Elko), BLM (Reno), NDOM (Reno), NDEP (Carson City), NDOW (Reno) and NDEP (Carson City).

The Excellence in Mine Reclamation Awards recognizes some of the most progressive Nevada miners, elevating the standards of excellence in mine reclamations and restorations.  Interest in these awards encourages innovation in reclamation techniques, raises industry standards, and results in better plans of operation and reclamation, while increasing the public’s awareness of these sustaining activities. 

SRK Consulting, an independent and international mining and earth/water resource consulting company, nominated Comstock Mining for the award stating, ‘Comstock Mining embraces the local communities and looks for ways to work with and for the residents to preserve the history of the area and minimize the potential impacts of mining operations on health, safety, and quality of life.  From pro-actively engaging regulators to developing the Comstock Foundation for History and Culture (http://www.comstockfoundation.org), CMI continues to demonstrate their desire to be a responsible member of the local and broader mining communities. It is for this varied and multi-pronged approach to community engagement and historic preservation and the recent concurrent and creative reclamation of the Keystone cut that SRK believes CMI is worthy of both this nomination and the award.’

Upper Yellow Jacket Hoist and Ore Chute, before and afterUpper Yellow Jacket Hoist and Ore Chute, before and after

Through the direction and facilitation of the Foundation, the Company provided funds for the restoration of the historic Upper Yellow Jacket Hoist works and ore chute, located directly above the tracks of the V&T Railroad in Gold Hill.  The wooden hoist served to lift ore carts and miners from the famed Yellow Jacket which was one of the richest mines in the history of the Comstock.  Without the restoration efforts, this historic structure was not expected to survive another Comstock winter.

Keystone Mine reclamation, before and afterKeystone Mine reclamation, before and after

The Keystone Mine is located adjacent to State Route 342.  It is the first part of the active mining area that you see when you travel south on State Route 342 from Virginia City.  The Company recognized the significance of both the initial impression to visitors in the area and the importance of the “viewshed” to the local and visiting admirers alike.  The Company performed extensive regrading and shaping of the Keystone Mine area and included patches of boulders and rocks to mimic the appearance of the surrounding native hills.  The Company then reseeded the regraded landscape using an approved seed mix and high quality hydroseeding techniques.  Once the vegetation approximates the surrounding vegetation density, it will be difficult to distinguish the regraded terrain from the surrounding native hills.

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.

 

Kimberly Shipley
Manager of Investor Relations
Tel (775) 847-0545
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
Wednesday, September 9, 2015

Comstock Mining Commences New Lucerne Underground
“Harris Portal”

Virginia City, NV (September 9, 2015) -- Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) announced that, on Saturday, September 5, 2015, in conjunction with American Mining and Tunneling LLC (“AMT”), it commenced construction of an underground exploration portal (“Harris Portal”) and drift at the north end of the floor level in the existing Lucerne Surface Mine.   The weekend started off with the inaugural blast launching the underground portal and drift development:

http://www.comstockmining.com/lucerne-underground-project

Corrado De Gasperis, President & CEO, commented, "Our expert geological, engineering, environmental and safety competencies, combined with AMT’s underground expertise, have now launched and are methodically progressing the Lucerne portal, drift and exploration drilling objectives.  Drilling commences later this month, with the first phase scheduled for completion before year-end. We have added world-class mining competency while reducing cost and dramatically increasing flexibility.”

The Company has partnered with AMT and its sister company, American Drilling  Corp., LLC., based on their underground expertise and quality services to the mining industry, ranging from beginning stage drilling and exploration to initial drift and tunneling, to commence developing a new underground access to the PQ and Woodville structures. Our teams, including AMT, were hands on Saturday morning coordinating and assessing following the initial blast.

The portal is situated on previously-disturbed, private land and has two major components.  The first component of the portal and underground drift is a main, northeasterly-trending, 1,280-feet long segment.  The second component is a branching, 740-foot long southeasterly trending segment. The first component is planned in two phases. The first phase of the tunnel development is expected to be approximately 800 feet and scheduled for completion by year end, and the second phase is targeted for early 2016. The first phase also includes approximately 20,000 feet of diamond-core definition drilling, which will be closely coordinated with the tunnel development, to complete the exploration objectives associated with the previously discovered dike-like masses of quartz porphyry (PQ). Previously disclosed drill data from this PQ structure include 46 intercepts of at least 10 feet that grade, on average, over 0.23 ounces of gold per ton and over 1.71 ounces of silver per ton.

Drilling for the second phase is anticipated to extend just past the mineralized mass of PQ, where the Company has defined the nearby Woodville Bonanza structures. These geologic definitions include significant historical and current mappings plus over 116 intercepts of at least 10 feet that grade, on average, over 0.22 ounces per ton gold and 1.59 ounces of silver per ton. The PQ and Woodville structures represent the most significant opportunity for immediately exploring and advancing the development of an accelerated underground mine plan in the Lucerne Area.

The Company plans to invest approximately $3 million for the first phase, including the underground portal, drilling, and certain related infrastructure for the Lucerne underground exploration and development project, scheduled for completion this December.

Corrado De Gasperis concluded: "We will update and report the status of this project frequently throughout year end. The "Harris Portal" honors the memory of our former safety director, Randy Harris, who won a 2015 Nevada Mining Association's "Outstanding Career in Safety" award, and we are planning a dedication ceremony on Friday, September 25, in honor of Randy and in conjunction with the commencement of drilling activities within the drift.”

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.

 

Kimberly Shipley
Manager of Investor Relations
Tel (775) 847-0545
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>
Page 4 of 19