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Comstock Begins 2016 Exploration Program on Flagship 16,335 Hectare QV Gold Project in Yukon

Comstock Metals Ltd.  is pleased to announce that it has commenced the 2016 exploration program on its flagship 16,335 hectare QV gold project in the prolific White Gold district of the Yukon Territory.

The work will be carried out in phases and will include surface exploration, geophysics, and drilling. Ground Truth Exploration Inc. have been contracted to carry out the Phase I and II programs on the QV Property.

The Phase I program, which has just started, will include high resolution DC IP-Resistivity (IP) surveys, GT Probe bedrock interface sampling, soil geochemical surveys, and bedrock geological mapping and prospecting. This work will be primarily focused on three priority target areas, the VG, Stewart, and Shadow zones, all of which have large areal extents and prospective geological, structural, geochemical and geophysical characteristics. Additional work will continue to assess the remainder of the large property package.

Results from the Phase I program will be integrated with previous work on the QV property and interpreted to refine the targets for rotary air blast (RAB) drilling, and potentially diamond drilling, in phases II and III. Phase II RAB drilling is scheduled to commence in early August; holes are planned at each of the VG, Stewart and Shadow zones.

Target Descriptions:

VG Zone: The VG Zone is located 11 km north of Kinross's Golden Saddle deposit on the southern part of the QV Property. The VG Zone has similar geology and style of mineralization to the Golden Saddle deposit. Gold mineralization at the VG Zone is hosted by quartz ±carbonate veins, stockwork and breccia along west-southwest trending, gently north-northwest dipping shears. To date, the Company has completed 3,400 metres of drilling in 17 drill holes which formed the basis for a maiden Inferred mineral resource totalling 4.4 million tonnes grading 1.65 grams/tonne (g/t) gold containing 230,000 ounces of gold at a 0.5 g/t gold cut-off (July 8, 2014 News Release). The drill program delineated an open-ended 250°/20-30°N trending, near surface tabular body of gold mineralization with a strike extent of 325 m, traced up to 275 m down dip from surface, and averaging 35-40 m true thickness. The gold-in-soil anomaly over the VG Zone consists of a 2 km long (with a 500m gap through a hornblende gneiss unit) and up to 400 m wide >10 ppb gold anomaly with a maximum value of 1277 ppb gold. The VG Deposit remains open in all directions and is proximal to other untested sub-parallel structures.

Stewart Zone: The Stewart Zone is located 5 km north of the VG Zone and comprises a 1.5 km long gold-in-soil anomaly, with a maximum value of 274.1 ppb gold. The anomaly area is associated with a magnetic low, along the southern margin of an intrusion of probable Jurassic age.

Shadow Zone: The Shadow Zone is 12 km north-northwest of the VG zone and is defined by a 2.7 km long northwest trending gold-in-soil anomaly and a 1.3 km east-northeast trending gold-in-soil anomaly corresponding to mapped fault zones. The maximum gold-in-soil value on the Shadow grid was 514 ppb gold. Trenching results have included 0.33 g/t gold over 85 m from the north end of QVTR12-27, including 0.9 g/t gold over 10 m, open to the north, west and east (December 11, 2012 News Release)

Source: http://www.comstock-metals.com/

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