Comstock Mining Completes State Route Realignment Ahead of Schedule
VIRGINIA CITY, NV--(Marketwired - December 04, 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
Contact information for Comstock Mining Inc.:
PO Box 1118 Virginia City, NV 89440
questions@comstockmining.com
http://www.comstockmining.com
Corrado De Gasperis
President & CEO
Tel (775) 847-4755
degasperis@comstockmining.com
Judd Merrill
Chief Financial Officer
Tel (775) 847-7325
merrill@comstockmining.com
