Comstock Mining Inc

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Comstock Mining Inc
Press Releases
Wednesday, July 2, 2014

Comstock Mining Receives Unanimous Approvals for Lucerne Zoning Changes

 

Virginia City, NV (July 2, 2014) -- Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) announced today that the Storey County Board of Commissioners unanimously approved important zoning changes on certain mining claims and other properties located in the Lucerne Resource Area, enabling a more comprehensive mine plan and completing a critical prerequisite for proceeding with a request for an expanded Special Use Permit.

“During the first six months of 2014, we’ve increased the intrinsic value of our company and the Comstock communities by positioning and preparing our land for more productive uses.   Our collaborations with these communities are centered on well-planned projects that promote responsible development, accelerated reclamation and unprecedented preservation activities in this historic, world class gold and silver mining district. These achievements are the results of a true public-private collaborations, working to achieve our common objectives,” stated Corrado De Gasperis, President and CEO of Comstock Mining Inc. 

These rezoned properties are situated in the Lucerne Resource Area, that includes the historic Justice and Keystone mining claims and near the Historic Woodville Bonanza.  The Lucerne Resource Area is the Company's largest, classified gold and silver resource area.   Earlier this year, the Lyon County Board of Commissioners unanimously approved break-through zoning changes on certain Company mining claims and other properties located in the Dayton Resource Area.  These claims represent the Company's second largest, classified gold and silver resource and include the historic Marble, Alhambra and Kossuth lode patented mining claims.  All the zoning in the Company’s resource areas are now zoned consistently with the Company’s goals and objectives.

About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District.  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 deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 40,000 gold equivalent ounces and significantly grow the commercial development of our operations through coordinated, district wide plans that are economically feasible and socially responsible.

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

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, “Risk Factors” of our annual report on Form 10-K and the following: current global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources and reserves; operational or technical difficulties in connection with exploration or mining activities; contests over our title to properties; potential dilution to our stockholders from the conversion of securities that are convertible into or exercisable for shares of our common stock; potential inability to continue to comply with government regulations; adoption of or changes in legislation or regulations adversely affecting our businesses; business opportunities that may be presented to, or pursued by, us; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to unexpected equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, copper, diesel fuel, and electricity); changes in generally accepted accounting principles; geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues organically; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies and equipment raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to maintain the listing of our securities on any securities exchange or market; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitute 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

 

 

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http://www.comstockmining.com

 

 

 

 

Corrado De Gasperis

 

Kimberly Shipley

President & CEO

 

Manager of Investor Relations

Tel (775) 847-4755

 

Tel (775) 847-0545

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Wednesday, May 14, 2014

Comstock Mining Completes $11.9 Million Public Offering


Virginia City, NV (May 14, 2014) - Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) announced today the successful completion of its previously announced public offering of 6.5 million shares of its common stock. The Company also announced that the underwriters exercised their over-allotment option to purchase an additional 975,000 shares.

The net proceeds to the Company from the offering and the over-allotment will be approximately $11 million, after deducting underwriting discounts, commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering for production expansion, exploration and development drilling and general corporate purposes.

H.C. Wainwright & Co., LLC and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (NHLD), acted as Joint Book-Running Managers for the offering.

 

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. 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 and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 20,000 gold equivalent ounces and significantly grow production through the commercial development and expansions of both the Lucerne and Dayton Mine plans.

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.:

P.O. 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

Kimberly Shipley

President & CEO

Manager of Investor Relations

Tel (775) 847-4755

Tel (775) 847-0545

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Friday, May 9, 2014

Comstock Mining Announces Pricing of Public Offering of Common Stock


VIRGINIA CITY, NV (May 9, 2014) – Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) announced today that it has priced its previously announced public offering of 6.5 million shares of common stock at a price of $1.59 per share. The offering is expected to close on May 14, 2014. The Company has also granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of common stock to cover over-allotments, if any.

The net proceeds to the Company from the offering will be approximately $9.5 million, after deducting underwriter discounts, commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering for production expansion, exploration and development drilling and general corporate purposes.

The offering is being made pursuant to the Company’s effective shelf registration statement that the Company previously filed with the Securities and Exchange Commission (“SEC”). A prospectus supplement relating to the offering has been filed with the SEC. Copies of the prospectus supplement and the accompanying prospectus may be obtained at the SEC’s website at http://www.sec.gov or by request from either H.C. Wainwright & Co., LLC, at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. or National Securities Corporation, at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. .

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

 

About Comstock Mining Inc.

Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District. 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 and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 20,000 gold equivalent ounces and significantly grow production through the commercial development and expansions of both the Lucerne and Dayton Mine plans.

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.:

P.O. 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

Kimberly Shipley

President & CEO

Manager of Investor Relations

Tel (775) 847-4755

Tel (775) 847-0545

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Thursday, May 8, 2014

Comstock Mining Announces Public Offering of Common Stock


VIRGINIA CITY, NV (May 8, 2014) – Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) announced today that it plans to make a public offering of its common stock. H.C. Wainwright & Co., LLC and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (NHLD), will act as Joint Book-Running Managers for the proposed offering.

The Company intends to use the net proceeds from the offering for production expansion, exploration and development drilling and general corporate purposes.

The offering of the shares will be made under the Company’s effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”). The Company intends to file a prospectus supplement with the SEC for the common stock offering to which this communication relates. When available, the prospectus supplement and accompanying base prospectus may be obtained at the SEC’s website at http://www.sec.gov or by request at:

H.C. Wainwright & Co., LLC
430 Park Avenue
New York, New York 10022
Telephone: (212) 356-0527
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

The prospectus supplement may also be obtained by contacting National Securities Corporation at:

National Securities Corporation
410 Park Ave, 14th Floor
New York, NY 10022
Attn: Kim Addarich
Telephone: (212) 417-8164
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.


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

 

About Comstock Mining Inc.

Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District. 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 and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 20,000 gold equivalent ounces and significantly grow production through the commercial development and expansions of both the Lucerne and Dayton Mine plans.

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.:

P.O. 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

Kimberly Shipley

President & CEO

Manager of Investor Relations

Tel (775) 847-4755

Tel (775) 847-0545

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Tuesday, April 29,2014

COMSTOCK MINING ANNOUNCES FIRST QUARTER 2014 RESULTS

Virginia City, NV (April 29, 2014) -- Comstock Mining Inc. (the “Company” or “we”) (NYSE MKT: LODE) today announced selected unaudited financial results for the fiscal quarter ended March 31, 2014.

First Quarter 2014 Highlights

  • Revenue from mining for the first quarter 2014 was approximately $5.6 million, a 53% increase as compared to the first quarter 2013, with average revenue of $1,251.39 per ounce of gold and $20.73 per ounce of silver.
  • Shipments for the first quarter 2014, totaled 4,546 ounces of gold and 49,292 ounces of silver as compared to 2,261 ounces of gold and 15,599 ounces of silver in the first quarter of 2013, respectively, increases of over 100% and 215% year-over-year.
  • Costs applicable to mining for the first quarter 2014, totaled $4.8 million, as compared to $3.8 million for the first quarter 2013. Although ounces shipped more than doubled, costs increased only 24% due to lower fixed operating expenses, lower labor-related expenses and higher productivity since the early stage of production.
  • General and administrative expenses for the first quarter 2014, totaled $2.2 million as compared to $3.4 million for the first quarter 2013, a 35% decrease. The $1.2 million decrease resulted primarily from a decrease in compensation, legal and other administrative expenses.
  • Net loss for the first quarter 2014, totaled $3.8 million, as compared to $5.8 million for the first quarter 2013. The decrease of $2.0 million, or 34%, was primarily the result of increased production coincident with cost efficiencies in mine planning, mining, crushing, maintenance, and certain administrative costs.
  • Net cash used in operations was reduced to $2.4 million during the first quarter 2014, as compared to $5.6 million during the first quarter 2013. Our higher use of cash in the first quarter 2013, was primarily driven from operating losses associated with higher mining and hauling costs relative to revenue due to a relatively higher ratio of waste to mineralized material, somewhat offset by increased grade and less mineralized material crushed for the first quarter 2014.
  • Net cash used in investing activities during the first quarter 2014, was $1.3 million, primarily from $1.1 million for purchases of mining vehicles.
  • Net cash provided by financing activities during the first quarter 2014, was $3.9 million, including proceeds of $4.6 million from the revolving credit facility and payments of $0.8 million on other debt obligations.
  • Cash and cash equivalents at March 31, 2014 were $2.6 million compared to $2.4 million at December 31, 2013.

Comstock’s Chief Executive Officer, Corrado De Gasperis commented, “We are encouraged by the convergence of our results and mine plan. Higher grades combined with lower strip ratios expected in the second half of this year, support our overall 2014 business objectives. Cost reductions resulted in an increase in cash and cash equivalents from $2.6 million at March 31, 2014 to $2.8 million at April 29, 2014.”

Exploration and Development

The Company has finalized its plans for near term, high priority targets, including The East Side, Dayton and Spring Valley exploration areas. The East Side Drill Program includes infill drilling, metallurgical testing, and geotechnical analysis to enhance the known mineralization on the East Side of State Route 342 for near term expansion.

In addition, the Company has designed a new phase of exploration drilling to include its highest-potential targets, including scoping studies of the Chute Zone in the Lucerne Resource area, and plans for expanded exploration and development drilling in the Dayton Resource area that will

allow for mineralization assessment, resource expansion and mine plan development in the latter half of 2014. The Company anticipates that the drill program will include 100,000 feet of reverse circulation and 20,000 feet of core drilling, for both Lucerne and Dayton, requiring an estimated investment of approximately $7 million.

The Company completed a successful phase of exploration drilling in Spring Valley in 2012. The drilling in the northern portion of Spring Valley was in part designed to confirm mineralization by drilling specific magnetic geophysical anomalies that had similar magnetic signatures as defined by mineralized drill holes, drilled prior to the geophysical surface survey. The Company anticipates that the planned future drill program will include approximately 35,000 feet of reverse circulation and 5,000 feet of core drilling requiring an estimated investment of approximately $2 million.

The total 2014-2015, drilling programs, including Lucerne, Dayton and Spring Valley would represent approximately 135,000 feet of reverse circulation drilling, and approximately 25,000 feet of core drilling. The drilling would be planned to start in the latter half of 2014.

Production

Metal sales in the first quarter of 2014 totaled $6.6 million, with gold revenues of $5.6 million. We also sold $1.0 million of silver. Silver is accounted for as a by-product credit in costs applicable to mining revenue for financial reporting purposes. For the first quarter of 2014, the Company poured 4,546 ounces of gold and 49,292 ounces of silver. The Company mined approximately 950,000 tons of material (mineralized material and waste) as it continued transitioning into higher-grade segments of the mine plan while expeditiously moving through areas of the mine with higher stripping ratios.

Total mineralized material delivered to the leach pad was 205,686 tons and represented some of the highest gold and silver grades crushed to date. The weighted average grade for the entire

quarter was .024 ounces per ton gold and .345 ounces per ton silver. The average for the month of March alone was over .034 ounces of gold per ton and over .50 ounces of silver per ton.

Throughout the first three months of 2014, the Company realized an average price of $1,251.39 per ounce of gold and a $20.73 average sales price per ounce of silver. In comparison, commodity market prices in the first three months of 2014 averaged $1,293.67 per ounce of gold and $20.49 per ounce of silver. The Company has priced over 2,800 ounces of gold scheduled for future delivery in May at an average price of approximately $1,310 per ounce.

Operating Costs

During the first three months of 2014, actual Lucerne Mine costs applicable to mining revenue were approximately $5.8 million, $4.8 million net of silver credits. Costs applicable to mining include mining and processing labor, maintenance, drilling, blasting and assaying costs. Although ounces poured doubled from the first quarter of 2013, to the first quarter of 2014, costs increased only 24%, resulting from production stabilization efforts throughout 2013 continuing into 2014, and cost reductions.

During the first quarter, the Company continued reducing costs applicable to mining, targeting over $6 million in reductions for 2014, as compared to 2013. The Company has already realized annual savings of approximately $1 million from reduced staffing in crushing, related maintenance, mining and administrative cost reductions with further opportunities in drilling, blasting, logistics and administration. Costs applicable to mining have been reduced over the past five quarters, with first quarter 2014 costs of sales, on a cost per ounce basis, at the lowest since inception, at slightly over $1,000 per ounce.

The Company has also identified $3.5 million of cost reductions in all other non-mining activities, including general, administrative and environmental expenses.

Corporate

The Company had total current assets of $7.5 million at March 31, 2014. Cash and cash equivalents on hand at March 31, 2014 totaled $2.6 million. Cash and cash equivalents on hand at April 29, 2014, is expected to be approximately $2.8 million. Inventories, stockpiles, and mineralized material on leach pads totaled $2.0 million, including $0.2 million in finished goods.

Net cash used in operations was reduced to $2.4 million during the first quarter 2014, as compared to $5.6 million during the first quarter 2013. Our 2014 use of cash, was reduced due to higher revenues, somewhat offset by losses associated with higher mining and hauling costs relative to revenue due to a relatively higher ratio of waste to mineralized material.

In February 2014, the Company entered into a $5 million revolving credit facility (the “Revolving Credit Facility”) with Auramet International, LLC, pursuant to which the Company may borrow up to $5 million outstanding at any one time. The Company also reduced its operating costs by entering into two low cost financing agreements with Caterpillar in the amount of $1.3 million for the purchase of mining equipment and eliminating higher rental costs.

For the remainder of 2014, we are planning capital expenditures of approximately $3.5 million, primarily to accelerate the expansion of the Lucerne Mine, including targeted drilling on the East side of the Lucerne Resource area. We will also pay down an additional $6 million in debt obligations, including about $4 million of the Auramet Facility.

2014 Outlook

Under our mine plan, we anticipate doubling the rate of ounces produced when compared to 2013, for both gold and silver, targeting a production rate of 40,000 gold equivalent ounces in 2014. These increases come with lower costs applicable to mining due to focused cost reduction efforts, as well as lower non-mining operating expenses. Once stabilized at the 40,000 ounce per annum run rate, the operating expenses per ounce mined will be significantly lower. The Company expects costs per ounce of gold mined of less than $750 per ounce. The Company anticipates annual operating expenses, including all mining and processing costs, of less than $25 million per annum, a more than a $6 million reduction from fiscal year 2013.

Comstock’s Chief Executive Officer, Corrado De Gasperis concluded, “April was a positive cash month for us and we look forward to generating positive cash flow in the future, mining higher grades, with lower strip ratios and at overall lower costs. Our efforts are solely focused on lowering costs and expanding both our production and our resource base, and it is happening, every day.”

Conference Call

As previously announced, the Company will host a conference call, today, April 29, 2014 at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time to report First Quarter 2014 results and business update.

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


North American Toll Free: 1-866-544-4625
Canada Local / International: 416-849-2726

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. 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 and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 20,000 gold equivalent ounces and significantly grow production through the commercial development and expansions of both the Lucerne and Dayton Mine plans.

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.:

P.O. 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

Kimberly Shipley

President & CEO

Manager of Investor Relations

Tel (775) 847-4755

Tel (775) 847-0545

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Monday, April 28, 2014

Comstock Mining Announces Annual Meeting and Record Dates

Virginia City, NV (April 28, 2014) -- Comstock Mining Inc. (“Comstock Mining” or “the Company”) (NYSE MKT: LODE) announced today that its 2014 Annual Meeting of Stockholders is scheduled for Friday, June 27, 2014, at the Gold Hill Depot, 1420 Main St, Gold Hill, Nevada. The meeting will begin at 9:30 a.m. Prior to this meeting, on June 26, 2014, the Company will host an Investor Day that will include a Company update at the Gold Hill Depot and an overview tour of the process facility via the V&T Railroad.

Guests arriving on Wednesday, June 25, 2014 are invited to attend a Comstock History Day that includes a guided tour of Virginia City and a Gold Hill reception, coordinated by the Comstock Foundation for History and Culture. Stakeholders are invited to register for these events beginning May 1, 2014 at http://www.comstockmining.com/investors/investor-relations.

The record date for the Annual Meeting is April 28, 2014. Only stockholders of record at the close of business on April 28, 2014, may vote at the meeting. The Company anticipates making its proxy statement available to these stockholders, which will include the time and location of the Annual Meeting, as well as a description of the matters to be considered.

As previously announced, the Company will host a conference call, Tuesday, April 29, 2014 at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time to report First Quarter 2014 results and business update.

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

North American Toll Free: 1-866-544-4625
Canada Local / International: 416-849-2726

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. 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 and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 20,000 gold equivalent ounces and significantly grow production through the commercial development and expansions of both the Lucerne and Dayton Mine plans.

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.:

P.O. 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

Kimberly Shipley

President & CEO

Manager of Investor Relations

Tel (775) 847-4755

Tel (775) 847-0545

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Thursday, April 24, 2004

Comstock Mining to Participate at the Current Trends in Mining Finance Conference Hosted By The Society for Mining, Metallurgy & Exploration Inc.


Virginia City, NV (April 24, 2014) -- Comstock Mining Inc. (“Comstock Mining” or “the Company”) (NYSE MKT: LODE) announced today that Corrado De Gasperis, President & CEO, will be a panelist discussing “What To Look For In And The Importance Of Feasibility Studies” at the upcoming "Current Trends in Mining Finance" conference hosted by the Society for Mining, Metallurgy & Exploration Inc. together with the New York Section of the SME.

This two-day conference, taking place in New York City from April 28-29, 2014, is designed for mining executives and industry specialists, analysts and investors. Covering a wide range of key topics and industry trends, this is a unique opportunity to get current on important issues that affect project finance, investment, strategic planning and to network with fellow professionals.

For more information and to register for this event, please see: http://www.smenet.org.

As previously announced, the Company will also host a conference call on Tuesday, April 29, 2014 at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time to report First Quarter 2014 results and provide a business update.

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


North American Toll Free: 1-866-544-4625
Canada Local / International: 416-849-2726

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. 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 and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 20,000 gold equivalent ounces and significantly grow production through the commercial development and expansions of both the Lucerne and Dayton Mine plans.

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.:

P.O. 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

Kimberly Shipley

President & CEO

Manager of Investor Relations

Tel (775) 847-4755

Tel (775) 847-0545

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Tuesday, April 22, 2014

Comstock Mining Announces Notice of First Quarter 2014 Results and
Business Update Conference Call

Virginia City, NV (April 22, 2014) -- Comstock Mining Inc. (“Comstock Mining” or “the Company”) (NYSE MKT: LODE) will host a conference call on Tuesday, April 29, 2014 at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time to report First Quarter 2014 results and provide a business update.


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

North American Toll Free: 1-866-544-4625
Canada Local / International: 416-849-2726

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. 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 and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 20,000 gold equivalent ounces and significantly grow production through the commercial development and expansions of both the Lucerne and Dayton Mine plans.

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.:

P.O. 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

Kimberly Shipley

President & CEO

Manager of Investor Relations

Tel (775) 847-4755

Tel (775) 847-0545

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Thursday, April 10, 2014

Comstock Mining Provides Update Mine Yields Higher Grades, Progress on Cost Reductions

Virginia City, NV (April 10, 2014) -- Comstock Mining Inc. (“Comstock Mining” or “the Company”) (NYSE MKT: LODE) announced an update today on its progress for 2014, mine operations, cost reductions and organization. The mine plan is yielding higher grades, particularly in March, where it averaged over .034 ounces of gold per ton delivered to the crusher.

For the first quarter of 2014, the Company poured over 4,500 ounces of gold and almost 50,000 ounces of silver, as compared to 2,261 ounces of gold and 15,599 ounces of silver in the first quarter of 2013, an increase of 100% for gold ounces produced and over 215% for silver ounces produced when compared to the comparable quarter in 2013. The Company mined approximately 950,000 tons of material (mineralized material and waste) as it continued transitioning into higher-grade segments of the mine plan while expeditiously moving through some higher stripping ratios. Total mineralized material delivered to the leach pad was over 205,000 tons and represented some of the highest gold and silver grades crushed to date. The weighted average for the quarter was .024 ounces per ton gold and .345 ounces per ton silver, with March 2014 averaging over .034 ounces of gold per ton and over .50 ounces of silver per ton.

The Company continues reducing costs applicable to mining, targeting over $6 million in reductions for 2014, as compared to 2013. The Company has already realized annual savings of approximately $1 million from reduced staffing in crushing, related maintenance, mining and administrative cost reductions with further opportunities in drilling, blasting, logistics and administration. For example, the Company saved nearly 154,000-kilowatt hours per annum participating in NV Energy’s Sure Bet Incentive Program. Costs applicable to mining has been reduced over the past five quarters, with first quarter costs of sales, on a cost per ounce basis, at the lowest since inception, at slightly over $1,000 per ounce.

“Our production continues its ramp up, with higher-grade material now being delivered and gold and silver pours increasing every week for the past four weeks. Our 2014 goal remains the doubling year over year production ounces and increasing cash flow, while reducing costs and achieving a cash cost applicable to mining of less than $750 per ounce,” stated Corrado De Gasperis, President and CEO of Comstock Mining Inc.
The Company also announced the appointment of Harold “Hal” Galbraith as Director of Mining effective March 24, 2014. Mr. Galbraith brings over 30 years of experience in open pit gold, silver and copper operations, as well as surface coal mining operations, maintenance systems, technical services and industrial engineering support. He has held a variety of positions including, but not limited to, Mine Manager, Sr. Production Engineer, Senior Mining Engineer, Senior Projects Engineer as well as Long and Short Range Mine Planner. Mr. Galbraith holds a Bachelor of Science in Mining Engineering from the Pennsylvania State University.

Mr. De Gasperis concluded: “We have not ever had better confidence and visibility with our forward mine plan. Sustained higher grades combined with lower strip ratios expected in the second half of this year, supports our overall 2014 business objectives. We are pleased to have Hal’s experience and cost focused management on our Comstock team.”

 

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. 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 and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 20,000 gold equivalent ounces and significantly grow production through the commercial development and expansions of both the Lucerne and Dayton Mine plans.

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.:

P.O. 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

Kimberly Shipley

President & CEO

Manager of Investor Relations

Tel (775) 847-4755

Tel (775) 847-0545

This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

  This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

 
Tuesday, March 11, 2014

Comstock Mining Announces 2013 Year End Results
2014 Revenue Objectives Complemented by $10 million of Cost Reductions

 

Virginia City, NV (March 11, 2014) Comstock Mining Inc. (the “Company”) (NYSE MKT: LODE) today announced selected financial results for the year ended December 31, 2013. The Company will host a conference call today, March 11, 2014, at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time. The live call will include a moderated Q&A, after the prepared comments by the Company. The dial-in telephone numbers for the live audio are as follows:

North American Toll Free: 1-866-544-4625
International: 1-416-849-2726

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

2013 Highlights and Recent Events

  • Published our fourth National Instrument 43-101 (NI 43-101) technical report (the “2013 Report”) authored by Behre Dolbear & Company (USA), Ltd. (“Behre Dolbear”). The 2013 Report declared a mineral resource estimate of Measured and Indicated Resources containing more than 2,100,000 gold equivalent ounces , a 25% increase over the previous Lucerne Measured and Indicated estimate.
  • Completed first full year of operations, producing 186,482 ounces of silver and 17,739 ounces of gold or a total of 20,815 gold equivalent ounces, exceeding full year guidance.
  • Received a major modified water pollution control permit, increasing our authorized capacity and processing rates from a previous maximum of 1.0 million tons per annum to 4.0 million tons per annum and recently expanded our heap leach capacity to accommodate expanded production plans.
  • Restructured patented mining claims in the Dayton Resource Area, eliminating $2 million of debt and cancelling all future royalties payable with respect to the mining claims.
  • Received strategic master plan and zoning change approvals from Lyon County’s Board of Commissioners on critical mining claims and other properties located in the Dayton Resource Area, supporting accelerated resource development and feasibility assessments.
  • Secured over 300 acres of private lands adjacent to the approximately 78 acre American Flat processing area, accelerating potential expansion options.
  • Secured a new, lower cost $5 million Revolving Credit Facility. The proceeds of the Revolving Credit Facility will be used for working capital, including production ramp up and preparations for expansion of the Lucerne Mine, including targeted drilling on the east side of the Lucerne Resource Area.

2013 Financial Results

  • Revenue for 2013 totaled $24.8 million, with gold mining revenues of $24.1 million. Realized an average selling price of $1,361.70 per ounce of gold and $21.97 per ounce of silver.
  • Crushed and stacked 1,072,000 dry tons of mineralized material, delivering 22,192 estimated ounces of recoverable gold and 396,082 estimated ounces of recoverable silver to the leach pads.
  • Cost applicable to mining revenues totaled $26.5 million, net of silver by-product credits, in line with expectations, and supportive of planned increased production growth in 2014.
  • Reclamation and exploration expenses decreased $9.8 million from $18.3 million in 2012 to $8.5 million in 2013 as the Company fully transitioned into production in 2013.
  • General, administrative, consulting and professional expenses were $9.6 million in 2013 versus $12.7 million in 2012, a decrease of $3.0 million, primarily from reduced external services as we stabilized production and reduced stock-based compensation expense.
  • Interest expense was $1.2 million in 2013 versus $0.9 million in 2012, primarily due to the higher interest rate associated with our Revolving Credit Facility paid off in 2013.
  • Net loss for 2013 was $21.3 million, versus $30.8 million in 2012, a decrease of $9.5 million, resulting from lower operating expenses and higher full year revenues.
  • Net cash used by operating activities was $10.3 million in 2013 compared to $22.4 million in 2012. The lower use of cash results from the higher first full year of revenue and lower year over year operating expenses, somewhat offset by the higher cash cost of mining and use of $2.7 million of accounts receivable used to repay debt.
  • Net cash used in investing activities in 2013 was $6.7 million, primarily as the result of capital asset purchases of $6.0 million and bond deposit increases of $1.3 million, offset by $597 thousand of proceeds received from the sale of equipment that was previously used in our mining development and production activities.
  • Net cash provided by financing activities was $13.4 million in 2013, comprised of approximately $18.8 million of net proceeds from equity, partially offset by the pay-down of our long-term debt obligations of approximately $4.9 million.
  • Total long-term debt and capital lease obligations at year-end 2013 were $7.9 million as compared to $13.7 million in 2012.
  • Cash and cash equivalents at year-end were $2.4 million.

The Company now owns or controls 7,447 acres of mining claims and parcels in the overall Comstock Mining District, representing a 26% increase since 2012.

“Over the past year, we have significantly increased the intrinsic value of our company and the communities of the Comstock. Our strategic land consolidation, responsible ramp up of operations and community-wide support network continue to grow in every respect. Our production expansion is still ramping up, with higher-grade materials now being delivered and scheduled to be delivered to the heap leach pad with a goal of doubling year over year production ounces while reducing unit costs and increasing cash flow,” stated Corrado De Gasperis, President and CEO of Comstock Mining Inc.

Production

During 2013, the Company fully established its operating infrastructure, including establishing our initial mine, ramps, roads and utility systems, completed the ramp up and stabilization activities of the production system, including significant improvements to the mining, logistics and metal extraction processes, particularly within the Merrill-Crowe facility. We invested approximately $1.5 million for productivity enhancing actions so that the Merrill-Crowe and heap leach facilities are now operating at sustained fluid processing rates of over 1,000 gallons per minute in 2014 thus far.

During 2013, the Company crushed and stacked 1,072,000 dry tons of mineralized material, delivering 22,192 estimated ounces of recoverable gold and 396,082 estimated ounces of recoverable silver to the leach pads with average head grades of gold to the crusher of 0.021 ounces per ton.

We also expanded our operating and physical leaching capacity by receiving a major modification of our water pollution control permit, increasing our authorized capacity and our processing rate from a previous maximum of 1.0 million tons per annum to 4.0 million per annum. This permit modification also authorized the completed construction of two new heap leach pad cells and the supporting ponds and related infrastructure. The system is now operational and new material is continuously being stacked, leached and processed.

The completed expansion and improvements represent the next major phase of growth for the Company, enabling production growth of 100%, with the goal of reducing per unit costs and increasing cash flow.

The Company has averaged over 400 gold-equivalent ounces poured per week in 2013. The Company continuously adjusted its operations to improve grade, maximize yields and increase tons crushed and stacked throughout 2013, and averaged nearly 500 gold-equivalent ounces poured per week throughout the second half of 2013.

For the quarter ended December 31, 2013, the Company realized an average sales price of $1,324.29 per ounce of gold and $20.68 per ounce of silver. In comparison, commodity market prices averaged $1,272.47 per ounce of gold and $20.76 per ounce of silver.

For the year ended December 31, 2013, the Company realized an average sales price of $1,361.70 per ounce of gold and $21.97 per ounce of silver. In comparison, commodity market prices in 2013 averaged $1,411.03 per ounce of gold and $23.83 per ounce of silver.

Operating Costs and Cost Reductions

During 2013, actual Lucerne Mine costs applicable to mining revenue were approximately $30.6 million, $26.5 million net of silver by-product credits. Cost applicable to mining revenue include mining and processing labor, maintenance, drilling and blasting and assaying costs associated with higher production rates and higher absorbed inventory costs incurred in advance of achieving the targeted production rate. The Company focused on reducing costs applicable to mining and leveraging the existing fixed operating expenses for the production of higher ounces in the latter part of 2013. Costs applicable to mining, dropped sequentially, on a per ounce basis, every quarter during the year. Overall, cash costs dropped 55% from the first quarter to the fourth quarter, starting at over $2,190 per ounce during initial ramp up down to $989 per ounce in the fourth quarter.

Costs applicable to mining revenue for the twelve months of 2013 include $1 million of non-recurring, higher hauling costs, $4.7 million of depreciation and a $1.5 million write down of inventory, primarily for lower grade stockpiles, to market value during 2013.

Management believes the system is now capable of operating at twice the production rates of 2013, while identifying cost reductions of annual costs applicable to mining from the 2013 levels by over $6.5 million, to below $25 million for the 2014 year.

During the third and fourth quarters, once production had stabilized, the Company also continued focusing on stream-lining the organization and reducing general, administrative, consulting and other related costs, resulting in a 23.9% reduction of these administrative cost categories, when comparing 2013 to 2012. The Company has identified another $3.5 million of these additional administrative cost reductions from the 2013 levels, for a total of $10 million in annual cost savings.

2014 Outlook

Under our current mine plan, we anticipate doubling ounces produced when compared to 2013, for both gold and silver, targeting 40,000 gold equivalent ounces of production this year. These increases come with lower costs applicable to mining due to focused cost reduction efforts, as well as lower non-mining operating expenses. Once stabilized at the 40,000 ounce per annum run rate, the operating expenses per ounce mined will be significantly lower in 2014 than in 2013. The Company expects cash costs per ounce of gold mined of less than $750 per ounce.

Exploration and Development

The 2013 drilling program (the “Drill Program”) included a total of 22 drill holes and 4,065 feet. For Billie the Kid, we drilled six holes with an average depth of 340 feet. For Lucerne, we drilled thirteen holes with an average depth of 120 feet. For Justice, we drilled six holes with an average depth of 160 feet, and for Keystone, we drilled one well-positioned hole down to 120 feet. The Drill Program was defined for specific information and collected information that confirmed predicted geologic and attributes and metallurgical properties.

The Company has finalized its plans for near term, high priority targets, including The East Side, Dayton and Spring Valley exploration areas. The East Side Drill Program includes infill drilling, metallurgical testing, and geotechnical analysis to enhance the known mineralization on the East Side of State Route 342 for near term expansion. In addition, the Company has designed a new phase of exploration drilling to include its highest-potential targets, including scoping studies of the Chute Zone in the Lucerne Resource area, and plans for expanded exploration and development drilling in the Dayton Resource area that will allow for proper mineral assessment, resource expansion and mine plan development in the latter half of 2014.

Strategic Land and Mineral Right Acquisitions

The Company continues to increase its footprint in the Comstock District through strategic acquisitions. We consider the historic Comstock district central to our growth strategy. In late 2013 and early 2014, the Company secured over 300 acres of private lands adjacent to the approximately 78 acre American Flat processing area providing valuable expansion opportunities for leaching, processing, refining and potentially, milling solutions for the district. The Company now owns or controls 7,447 acres of mining claims and parcels in the overall Comstock Mining District, representing a 26% increase since 2012.

Earlier this year, the Lyon County Board of Commissioners unanimously approved breakthrough zoning changes on certain Company mining claims and other properties located in the Dayton Resource Area, enabling a more comprehensive assessment. These claims represent the Company's second largest classified gold and silver resource and include the historic Marble, Alhambra and Kossuth lode patented mining claims. The Company previously announced the positive restructuring of the debt and royalty obligations related to these patented mining claims. The restructured transaction eliminated $2 million of long-term debt and canceled all existing royalty obligations with respect to these mining claims.

Corporate

Cash and cash equivalents on hand at December 31, 2013 totaled $2.4 million.

Total long-term debt and capital lease obligations at year-end 2013 were $7.9 million as compared to $13.7 million in 2012. For 2014, we plan on $2-3 million in capital expenditures, primarily to prepare for future expanded mining operations, including mining of The East Side of the Lucerne Resource. We will also pay down an additional $2.7 million in long-term debt obligations.

Comstock’s Chief Executive Officer, Mr. Corrado De Gasperis, concluded, “We have grown our strategic resource in excess of 3 million gold equivalent ounces, established and are expanding production, lowered and continue lowering costs, all while expanding our land position in one of the most prolific geological districts. From a pure sources and uses perspective, we had an operating cash profit in the fourth quarter before capital expenditures, and we are positioned to grow that profitable base, through the remainder of this year.”

 

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. 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 and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 20,000 gold equivalent ounces and significantly grow production through the commercial development and expansions of both the Lucerne and Dayton Mine plans.

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.:

P.O. 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

Kimberly Shipley

President & CEO

Manager of Investor Relations

Tel (775) 847-4755

Tel (775) 847-0545

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Tuesday, March 4, 2014

Comstock Mining to Participate in the Northland Capital Markets 2014 Growth Conference on March 12, 2014

Virginia City, NV (March 4, 2014) -- Comstock Mining Inc. (“Comstock Mining” or “the Company”) (NYSE MKT: LODE), a Nevada-based, producing gold and silver mining company with extensive, contiguous property in the Comstock District, today announced that Corrado De Gasperis, President and CEO, has been invited to and will attend the Northland Capital Markets 2014 Growth Conference on Wednesday, March 12, 2014 at the Omni Berkshire Palace Hotel in New York City.

Mr. De Gasperis will hold one-on-one and small group meetings with investors throughout the day discussing Company potential, performance and outlook for 2014 and beyond.

For additional information or to schedule a one-on-one meeting with Mr. De Gasperis, please contact your Northland representative.

To learn more about Northland Capital Markets and the 2014 Growth Conference, visit www.northlandsecurities.com.

The Company would also like to invite you to participate in the 2013 year end and business update conference call being held on Tuesday, March 11, 2014 at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time. The live call will include a moderated Q&A, after the prepared remarks. The dial-in telephone numbers for the live audio are as follows:

North American Toll Free: 1-866-544-4625
Canada Local / International: 1-416-849-2726

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. 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 and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, achieve initial commercial mining and processing operations in the Lucerne Mine with annual production rates of approximately 20,000 gold equivalent ounces and significantly grow production through the commercial development and expansions of both the Lucerne and Dayton Mine plans.

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.:

P.O. 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

Kimberly Shipley

President & CEO

Manager of Investor Relations

Tel (775) 847-4755

Tel (775) 847-0545

This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

  This e-mail address is being protected from spambots. You need JavaScript enabled to view it.
 
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