VIRGINIA CITY, NV--(Marketwired - July 14, 2016) - Comstock Mining Inc. (the "Company") (NYSE MKT: LODE), announced today that the Bureau of Land Management (BLM), Sierra Front Field Office, has conveyed ownership of approximately 24 acres to Northern Comstock, LLC. The parcel known locally as "Lot 51" is located on the American Flat Road, in Storey County, Nevada. The parcel gets its name because it was established as a lot -- and patented -- during the historic mining heyday of the Comstock District. The BLM's action legally recognizes Lot 51 as private property. This marks the successful completion of a multi-year process to acquire this land from the BLM. Lot No. 51 represents a strategic parcel of land that enables an expanded and efficient haul route from the Lucerne mine.
Corrado De Gasperis, President & CEO, commented, "We are pleased to permanently acquire Lot 51 from the BLM, correcting a legacy obstacle to our efficiency and expansion objectives. Working effectively with the BLM, we were able to turn an obstacle into an opportunity for expansion that positively impacts the entire Comstock district. Its another brick in an increasingly larger foundation."
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 commenced production in 2012. 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 the future quality of life on the Comstock and Comstock's future production, operations and infrastructure.