Comstock Metals Ltd. intends to use the majority proceeds of the private placement to complete additional diamond drilling up to a planned 2,500 meters at the high-grade Preview North gold zone. At Preview North multiple shallow zones of quartz-carbonate vein gold mineralization, including multiple drill intercepts containing visible gold, have been defined by diamond drilling along a strike length of 200 m, 60 m width, and vertical depth of 170 m. Significant potential remains to expand the Preview North zone with additional drilling. Selected drill intercepts from the Preview North zone include1: 4.20 m averaging 9.66 g/t gold in PR17-175 starting at 20.50 m down hole and 3.25 m averaging 87.16 g/t gold starting at 41.15 m down hole; 16.70 m averaging 5.08 g/t gold in PR17-176 starting at 23.3 m down hole and including 4.20 m averaging 17.40 g/t gold starting at 28.00 m down hole; and 5.00 m averaging 16.19 g/t gold starting at 51.00 m down hole; -2- 5.20 m averaging 5.30 g/t gold in PR18-183 starting at 113.80 m down hole and including 3.30 m averaging 8.04 g/t gold starting at 115.70 m down hole 3; 21.50 m averaging 2.87 g/t gold in PR18-185 starting at 23.00 m down hole and including 3.25 m averaging 10.35 g/t gold starting at 36.75 m down hole; 8.00 m averaging 7.47 g/t gold in PR18-187 starting at 31.00 m down hole and 23.6 m averaging 3.60 g/t gold in PR18-187 starting at 50.40 m down hole and including 2.10 m averaging 13.85 g/t gold starting at 64.40 m down hole.