Comstock Mining Announces Sweeping Master Plan and Zone Changes in Silver Springs Nevada Board of County Commissioners Unanimously Votes for Economic Growth!
Virginia City, NV (April 10, 2017) - Comstock Mining Inc. (“Comstock” or the “Company”) (NYSE MKT: LODE) announced today, that the Lyon County Board of Commissioners unanimously approved both a major, expansion-friendly master plan amendment for the Silver Springs Airport and commercial zoning for a centrally-located 160-acre parcel, both of which are in the immediate vicinity of the Company’s recently approved, shovel-ready, 98-acre Comstock Industrial Site in Silver Springs, Nevada.
The Company’s 98-acre Comstock Industrial Site is available for development and recently received the Nevada Certified Site accreditation from the Northern Nevada Development Authority (NNDA). It is in immediate proximity of the super-routed USA Parkway and Highway 50 intersection. This site is located in the direct vicinity of the expanding Tahoe Reno Industrial (“TRI”) Center, the Silver Springs Airport, the now re-zoned Downtown Silver Springs parcels and the USA Parkway—that is scheduled for completion later this year.
The Nevada Certified Site Program is designed to provide critical decision-making information to business owners, developers and site selectors to allow informed, expedited decisions. The Nevada Certified Site designation serves as a pre-qualification for buyers, indicating that a property’s title is clear, appropriately zoned, possesses sufficient utilities, adequate transportation access and other critical infrastructure for industrial and commercial uses. It also includes a confirmation that a positive, Phase One environmental assessment has been completed, among many other criteria. The designation ensures that a company’s expansion plans will not be held back by costly delays in permitting and approvals.
The 98-acre Comstock Industrial Site in Silver Springs, Nevada, is also located adjacent to the Silver Springs Airport, multiple, expansive parcels of commercial and industrial properties and immediately within the municipal water and sewer service area, serviceable by electrical power, natural gas, and communications. The Company also owns more than 256 acre-feet of the most senior water rights in the basin. NNDA has uploaded the certified site information packet at this link:
The property is ideally situated with excellent logistics in immediate proximity to where USA Parkway (State Route 439) connects with US 50 from Interstate 80, through the TRI Center, also known as the largest industrial park in the world. The Company plans to sell certain, non-mining related lands, buildings and water rights, including the Certified Site, for expected net cash proceeds of more than $14 million during the next 12 to 18 months. The Nevada Department of Transportation has an animated flythrough of USA Parkway (SR 439) that can be viewed at this link:
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.
Monday, April 10 , 2017