Comstock Mining Inc. (the “Company”) (NYSE
American:LODE),
a Nevada-based, land-based,
gold and silver mining company, announced today the election of
Walter A. “Del” Marting, 71, to its Board of Directors and the
retirement of Daniel W. Kappes, after 6 years of service, from its
Board of Directors. Mr. Kappes will remain involved with the
Company as a member of its recently established Mining Advisory
Committee, to assist in all aspects of technical mining and mine
development, along with Mr. Leo Drozdoff and Mr. Robert Reseigh.
Corrado De Gasperis, Executive Chairman of the Board said,
“Dan’s leadership, fortitude and guidance steered us through some
of our most difficult developments as a producer and as a company.
His technical and strategic expertise is second to none, but for
me, his mentorship, passion and focus on the strategy and success
of the Comstock, its importance and its legacy, was most valuable
to our Company and me as a professional. I am honored to have such
a sincere and intellectually honest mentor, willing to give the
straight, hard advice, and we are blessed to retain his continued
experience, along with Bob and Leo’s on our advisory
committee.”
The Company welcomes Mr. Marting to the Board, with an extensive
resume in, among other areas, mining, mine development, strategic
and operational finance. Mr. Marting started his mining
career with Amax Inc., a worldwide producer of molybdenum that
eventually became part of Freeport-McMoRan, the largest molybdenum
producer in the world, with increasing responsibilities including
supervising production from Amax’s largest underground and open pit
molybdenum mines, worldwide strategic planning for all of Amax’s
new molybdenum properties, including exploration, and ultimately
Vice President of Administration for Amax Europe, where he
centralized all of Amax’s finance and treasury for Europe and
consolidated and managed all of their metal trading for molybdenum,
tungsten, copper, coal and iron ore into one European center. He
was also the Chairman and CEO of Lucky Chance Mining Co., a
Nevada-based miner that successfully reopened and restarted
production at the famed 16-1 Mine in Allegheny, CA, that he took
public. Mr. Marting has held financial and investment banking
roles serving a variety of industries and is most recently the
Founder and Managing Partner of CereCare, LLC and CoreSource
Recovery Services, LLC, providing breakthrough rehabilitation
treatment for patients suffering from brain and related substance
abuse disorders—most commonly alcoholism and opioid addictions. Mr.
Marting graduated from Yale University in 1969, with a BA in
English and holds an MBA from Harvard Business School. Mr. Marting
is also a Navy veteran, including service as a member of the US
Navy SEAL Team Two.
Mr. De Gasperis added, “We are honored to welcome Del Marting to
the Comstock as we expand and accelerate our strategic
initiatives. His intimate knowledge of northern Nevada
industries, and his strategic planning, finance, capital markets,
and corporate governance expertise are especially valuable as we
embark on developing and commercializing new technologies and
businesses.”
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.
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.
Contact information for Comstock Mining Inc.: |
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PO Box
1118 Virginia City, NV 89440 |
|
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http://www.comstockmining.com |
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|
|
Corrado De Gasperis |
|
Zach
Spencer |
President & CEO |
|
Director of External Relations |
Tel
(775) 847-4755 |
|
Tel
(775) 847-5272 ext. 151 |
degasperis@comstockmining.com |
|
questions@comstockmining.com |
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