Comstock Inc (LODE)

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Any thoughts on todays news?

Comstock Mining Inc. (the "Company") (NYSE Amex: LODE) today received a Notice from the Sierra Front Field Office of the Bureau of Land Management (BLM) requiring the Company to cease using certain land that facilitates efficient transportation of material, primarily due to allegations of use without authorization. The Company believes that the allegations in the Notice are not supported by the facts. The Notice permits 30 days to present evidence of our authority. The Company will be filing an appropriate response with the BLM, to enable a timely and positive resolution.

The Notice appears to dispute the legal ownership of a 25-acre lot in the Gold Hill Town site ("Lot 51"). The Company has documented the private ownership of Lot 51 under clear title dating back to 1869. Storey County has collected private property taxes since then on this land, and upholds private ownership in a letter written to the BLM by the County dated November 2, 2011. Past BLM correspondence also confirmed private ownership. Documentation supporting the Company's position is available and will be submitted timely.

This Notice does not impact the construction activities ongoing at our processing site and does not directly impact the preparation and construction of the mine. Both will proceed on schedule.

"We are surprised with the Notice from Field Manager Thomas," stated Corrado De Gasperis, President and CEO of Comstock Mining. "We will, of course, fully comply with the Notice. We have a good and longstanding relationship with the BLM and will work constructively to resolve this matter quickly. Construction will remain on schedule while we respond and resolve the allegations in the Notice."