Comstock Announces Results of Annual General Meeting and Closing of Private Placement Raising Approximately $2.65 Million

VANCOUVER, BC--(Marketwired - February 27, 2017) -

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Comstock Metals Ltd. (TSX VENTURE: CSL)("Comstock" or the "Company") is pleased to announce that at its Annual General Meeting of Shareholders held on Monday February 27, 2017, incumbent directors David Terry, Doug Turnbull, Steven Goldman and Rasool Mohammad were re-elected to the Board of Directors of the Company, and Ken Kuchling and Jeffrey Gregory were elected as new directors. At the Meeting, Shareholders also approved the number of directors, approved and ratified the Company's stock option plan, and re-appointed Dale Matheson Carr-Hilton LaBonte LLP, Chartered Accountants, as auditor of the Company.

The Company is also pleased to announce that it has closed its previously announced non-brokered private of units ("Units") and flow-through units ("FT Units"). Pursuant to the offering the Company issued a total of 13,344,157 Units and 3,563,900 FT Units raising aggregate gross proceeds of $2,643,125.65.

New Directors:

President and CEO David Terry stated ""I am very pleased to have Ken Kuchling and Jefferson Gregory join the board of directors of Comstock. Their vast experience and knowledge will be instrumental in assisting the Company as it moves forward."

Ken Kuchling:

Mr. Kuchling brings with him over 35 years' experience in mine engineering, mining operations and consulting across a variety of commodities including precious metals, base metals, bauxite, iron ore, tungsten, molybdenum as well as diamonds and potash. Throughout his consulting career he has had direct involvement in scoping and feasibility studies, project management, 43-101 technical reports, economic modelling, mine design, and environmental permitting. Mr Kuchling has project experience working in various regions in Canada, Alaska, Mexico, Panama, Argentina, Suriname, Russia, South Korea, Italy, Spain, and Senegal. He was involved in the design stage and environmental permitting of the Diavik Diamond Project in the Northwest Territories and has experience with tropical to Arctic mining conditions.