Published: January 4, 2016 |

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Comstock Mining Inc. has completed the entire 800-foot underground exploration drift (Harris Portal) at the north end of the existing surface mining operation of the Lucerne underground exploration and underground drift development. The Harris Portal runs parallel to the previously discovered dike-like masses of quartz porphyry (PQ) that have intruded into the main lode.

“Our teams have now completed the targeted 800 foot segment of the Lucerne exploration drift, plus expanded the drift an additional 200 feet towards the historic Succor vein system and also completed approximately 10,000 feet of diamond core drilling. We have also begun receiving assay results and look forward to reporting on these drill results over the next few weeks and throughout January and early February,” said Corrado De Gasperis, president and CEO.

The company’s transition from Lucerne’s open cut mining toward underground exploration and development (Harris Portal and tunnel) marks a significant turning point for the company. The Lucerne Drift represents the first substantial underground development in the Comstock District in more than 30 years. The tunnel, when complete, is designed to conduct an underground exploration drilling program directed at a series of geological targets in the Silver City Branch of the Comstock Lode, including the PQ target, the Succor vein systems and the historic Woodville Bonanza system. These initial targets represent the core of a broader geological corridor where the company is currently drilling. Previous surface drilling in the area, including the Succor-Holman drilling from earlier this year, had suggested that a zone lying generally adjacent to and below the Lucerne Cut had the potential to yield high-grade gold and silver. The current program has been geared toward defining that potential.

The company remains on schedule to complete the first phase of the portal, drift, drilling, and evaluation of these results by early February. Assay results, geological interpretations, and context will be forthcoming throughout January 2016.

“We are focused on this transition to higher-grade targets as we conclude the production for Lucerne in 2015, including the completed SR 342 realignment. We ended the year with good gold and silver grades, the lowest costs in our history, and exceptional final gold and silver yields, as our life of mine recoveries for Lucerne gold yields rose to an estimated 84-85 percent, from a previous 81 percent. This positions the platform and the district well for our future growth plans,” said De Gasperis.

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 its business plan is to maximize intrinsic stockholder value realized, per share, by validating qualified resources and reserves (proven and probable) from its first two resource areas, Lucerne and Dayton, and significantly grow the commercial development of operations through extended, long-lived mine plans that are economically feasible and socially responsible.

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