Comstock Mining Announces a $16 Million Registered Direct Offering of Common Stock

VIRGINIA CITY, NV (March 2, 2021) – Comstock Mining Inc. (the “Company”) (NYSE: LODE) announced that it has entered into securities purchase agreements for the sale of 4,000,000 shares of its common stock at a price of $4.00 per share in a registered direct offering. No warrants will be issued in connection with the transaction. The closing of the offering is expected to occur on or about March 4, 2021, subject to the satisfaction of customary closing conditions.

Noble Capital Markets, Inc. is acting as the sole placement agent for the offering.

The Company intends to use the net proceeds from the offering to fund the LINICO Corporation acquisition, previously announced on February 17, 2021, investments in Mercury Clean Up LLC, mineral acquisition and development, and general corporate purposes.

The share offering will be made under the Company’s effective shelf registration statement on Form S-3 (File No. 333-229890) previously filed with the Securities and Exchange Commission (“SEC”). A prospectus supplement describing the terms of this proposed offering will be filed with the SEC. When available, electronic copies of the prospectus supplement and accompanying base prospectus may be obtained from Noble Capital Markets, Inc. at 225 N.E. Mizner Boulevard, Suite 150, Boca Raton, Fl 33431 Attn. Prospectus Department, or by telephone at 561-994-1191, or by email at info@noblecapitalmarkets.com. Before investing in this offering, interested parties should read the other documents that the company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of the Company’s common stock, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and a related prospectus supplement, which have been or will be filed with the SEC.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging leader in sustainable mineral development and production of environment-enhancing, increasingly scarce strategic and precious metals, focused on conservation-based waste, high-value, cash-generating, mineral and metals essential to meeting the rapidly increasing demand for clean energy technologies. The Company has extensive, contiguous property in the historic, world-class Comstock and Silver City mining districts (collectively, the “Comstock District”) with fully permitted, metallurgical labs and an operational, mineral processing and beneficiation platform that includes a growing portfolio of mercury remediation, gold and silver extraction facilities. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. 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. Forward-looking statements include statements about matters such as: consummation of all pending transactions; project, asset or Company valuations; future industry market conditions; future explorations, acquisitions, investments and asset sales; future performance of and closings under various agreements; future changes in our exploration activities; future estimated mineral resources; future prices and sales of, and demand for, our products; future operating margins; available resources; environmental conservation outcomes; future impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth. 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, many of which are unforeseeable and beyond our control and 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 set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. 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. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

Contact information for

Comstock Mining Inc.
117 American Flat Rd
PO Box 1118
Virginia City, NV 89440
http://www.comstockmining.com

Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com

Zach Spencer
Director of External Relations
Tel (775) 847-5272 ext.151
questions@comstockmining.com

Source: Comstock Mining

Research coverage of Comstock Mining (LODE) on Channelchek is provided by Noble Capital Markets, Inc. Please refer to the research disclosures on the most recent LODE report for more information.

Tuesday, March 02, 2021

Endeavour Silver (EXK)(EDR:CA)
Full Year 2020 Net Income Above Expectations

As of April 24, 2020, Noble Capital Markets research on Endeavour Silver is published under ticker symbols (EXK and EDR:CA). The price target is in USD and based on ticker symbol EXK. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation. The company is organized into four operating mining segments, Guanacevi, Bolanitos, El Cubo, and El Compas, which are located in Mexico as well as Exploration and Corporate segments. Its Exploration segment consists of projects in the exploration and evaluation phases in Mexico and Chile.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Full year 2020 results. Endeavour reported full year 2020 net income of $1.2 million, or $0.01 per share, compared to a loss of $48.1 million, or $(0.36) per share during the prior year. We had projected a net loss $14.5 million, or $(0.10) per share. Adjusted EBITDA were $25.3 million compared to $(4.2) million during the prior year and our estimate of $22.1 million. Cash flow from operations increased to $39.0 million compared to $(9.6) million during 2019. The variance to our estimate was due mainly to the sale of inventory during the fourth quarter and a fourth quarter tax benefit. The company reduced finished goods inventory to 116,484 ounces of silver and 1,459 ounces of gold compared to 462,674 ounces of silver and 2,995 ounces of gold as of September 30.


Updating estimates.  We have increased our 2021 EPS and EBITDA estimates to $0.17 and $75.7 million, respectively, from $0.14 and $67.5 million. Our revised estimates reflect lower production and operating costs. We forecast 2022 EPS and EBITDA of $0.22 and $80.7 million, respectively …

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Tuesday, March 02, 2021

Aurania Resources (AUIAF)(ARU:CA)
Forging Ahead; Virtual Investor Update on March 3

As of April 24, 2020, Noble Capital Markets research on Aurania Resources is published under ticker symbols (AUIAF and ARU:CA). The price target is in USD and based on ticker symbol AUIAF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Progress at Tsenken N1. Scout drilling began in February at the Tsenken N1 target which includes a copper-silver mineralized zone exposed at surface, and an underlying area of interest that was identified in the MobileMT geophysical survey. While the drill hole has reached a depth of 500 meters, it may require a 600-meter inclined drill hole to reach the target conductor identified in the MT geophysical survey.


Looking ahead.  Drill platforms are being prepared for drilling of the Yawi, now called Kuri-Yawi, epithermal gold-silver and copper porphyry targets. Drilling will test an epithermal target and a deeper porphyry target down to 800 meters. A larger drill rig will be used for the drilling at Kuri-Yawi. Drill platforms are being sited in a 4-kilometer segment of the 15-kilometer long Tiria-Shimpia …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.