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Comstock Mining Acquires 30 New Lode Mining Claims

VIRGINIA CITY, Nev., Sept. 12, 2017 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American:LODE) announced today that the Company has added 472 acres of claims contiguous to its claims in the Dayton /Spring Valley Areas by acquiring 30 unpatented Lode claims, including lands that were previously held by Kona Gold, in the southern part of the Comstock District.

Depicted in blue are Comstock Mining’s existing claims with additional new claims displayed in bright green.


Corrado De Gasperis, Executive Chairman and CEO of the Company stated, “The efficient locating, staking and filing on the new claims expand an already impressive land position in a historic world-class mineral district. We now control well over 10 square-miles with our land position.”

The annual maintenance fees are administered by the Bureau of Land Management and include the Company’s 2,266 acres of private, patented claims as well as 6,345 acres of unpatented claims including lode claims and combined equals 8,611 of total acres. With the addition of the 30 new claims comprising 472 acres, the Company now controls 6,817 acres of unpatented claims and 9,083 total acres. The filing fees associated with the newly acquired claims was $12,277.00, which included paying for last year’s and 2017-2018 intent to hold fees to the BLM.

The Company has expansive mining claims with exploration, development and operating permits throughout a historic world-class district featuring a production ready platform. The Company’s existing and newly expanded land position in the Comstock District is illustrated in the map below.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/94752b2d-af4b-4864-942f-8bb2a2e76a70

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 completed its first phase of production. 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, production slowdowns, suspension or termination, business process, rationalization and other operational initiatives; investments, acquisitions, joint ventures, strategic alliances, business combinations, asset sales; 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; including a redemption of the debenture, 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 the Debenture or any other securities of the Company.

Contact information for Comstock Mining Inc.:
PO Box 1118
Virginia City, NV 89440
http://www.comstockmining.com

Corrado De Gasperis
President & CEO
Tel (775) 847-4755
degasperis@comstockmining.com

Zach Spencer
Director of External Relations
Tel (775) 847-5272 ext. 151
questions@comstockmining.com

Source:Comstock Mining Inc.