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Comstock Mining Inc. (LODE) Releases Technical Report on Nevada Mining Property

|Includes: Comstock Mining Inc (LODE)

Comstock Mining Inc. reported that the latest technical report on its mining project indicated significant growth in mineral resources compared to the previous report. The technical report covered the Comstock Mine Project in Nevada.

Comstock Mining said that the National Instrument 43-101 technical report estimated that the measured and indicated resources at the company’s Comstock Mine properties totaled 1.78 million gold equivalent ounces as of 9/30/2011. The inferred resources on the property totaled 990,000 gold equivalent ounces.

The National Instrument 43-101 technical report was issued by Behre Dolbear & Company (NYSE:USA), Ltd., an advisory consultant serving the mineral industry, and used gold prices of $1,620 per ounce as of September 30, 2011.

Comstock Mining said that the 2.77 million gold equivalent ounces of measured, indicated and inferred resources was 94% higher than the level reported in August 2010. The report covered the company’s most recent exploratory program which ended in August 2011. The report also indicated that the Comstock Mine properties held measured, indicated and inferred resources totaling 20.4 million silver equivalent ounces.

Comstock Mining intends to begin commercial mining activities in late 2011, with production commencing in 2012.

For more information on the company, go to comstockmining.com

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