Comstock Mining Progresses Strategic Activities

Apple Also Announces $1 Billion Expansion into Northern Nevada

VIRGINIA CITY, Nev., May 11, 2017 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE MKT:LODE) reported today that Apple Inc. just announced an additional $1 billion investment in northern Nevada, doubling the size of its existing data center near the Tahoe Reno Industrial (TRI) Center. This investment by Apple will create 300 construction jobs plus 100 permanent data-center jobs.

Corrado De Gasperis, Executive Chairman and CEO of the Company stated, “Apple just joined Tesla and Switch in announcing $1 billion+ investments each, in addition to Google’s recent large land purchase in the TRI Center. These are staggering commitments to the economies near our recently certified Comstock Industrial Site, driving value and interest toward our non-mining properties. We hosted three site visits alone just this past week.”

The Company believes the biggest catalyst and value driver for its lands is the completion of the new USA Parkway and its roundabout connection into Highway 50, both scheduled for completion this year. The Nevada Department of Transportation has already announced over $125 million in infrastructure road projects directly associated with the new Parkway and/or Highway 50 connections and expansions.

The Company recently extracted additional mineralized samples from the Dayton Resource Area, for the purpose of assessing optimum metallurgical feasibility for the Dayton mineralized material. The samples were crushed, agglomerated and loaded into four ten-foot columns for leach pad simulation. These simulations are located on-site, in the Company’s metallurgical labs, and funded by U.S. National Science Foundation research grants through Cycladex Inc., a strategic investee and partner. This simulation is focused on comparing cyanide-based leaching alongside “Cycladex Lixiviant” based leaching so we can provide a preliminary assessment for determining the fastest, most efficient and economically feasible process solution.

Mr. De Gasperis noted, “We completed a scoping column test in the first quarter and have now established four, full metallurgical column tests, two cyanide and two non-cyanide, running parallel, that support and advances the feasibility study for establishing proven and probable reserves at the Dayton Mine. Preliminary results from these columns would be available mid-July.”

The Company also advanced three out of four strategic venture discussions this week and anticipates that at least one transaction will occur during the second quarter.

About Comstock Mining Inc.

Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. 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 evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective 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 continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) that enable 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 and redemption of the Debenture.

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.