Mr. Steven Goldman reports

COMSTOCK ADVANCES PREVIEW SW GOLD PROJECT DRILLING 23.6 M AVERAGING 3.60 G/T GOLD

Comstock Metals Ltd. has released the results from the winter diamond drilling program at its 100-per-cent-owned Preview SW gold project, located 40 kilometres northeast of La Ronge, Sask. These results are from five NQ-diameter drill holes, totalling 810 metres, completed at the Preview North zone.

Highlights:

• 23.6 metres averaging 3.60 grams per tonne gold in PR18-187, starting at 50.40 metres downhole and including 2.10 metres averaging 13.85 grams per tonne gold starting at 64.40 metres downhole;
• 8.00 metres averaging 7.47 grams per tonne gold in PR18-187, starting at 31.00 metres downhole and including 0.75 metre averaging 74.6 grams per tonne gold starting at 33.00 metres downhole;
• 5.20 metres averaging 5.30 grams per tonne gold in PR18-183, starting at 113.80 metres downhole and including 3.30 metres averaging 8.04 grams per tonne gold starting at 115.70 metres downhole;
• 21.50 metres averaging 2.87 grams per tonne gold in PR18-185, starting at 23.00 metres downhole and including 3.25 metres averaging 10.35 grams per tonne gold starting at 36.75 metres downhole.

"We are very pleased with the results from our winter drilling program at Preview North. The discovery of multiple occurrences of visible gold in four of the five holes drilled with corresponding high-grade intercepts continues to validate the company's Preview North zone exploration strategy," commented Steven H. Goldman, Comstock's interim chief executive officer.

The Preview North zone is located approximately 2.6 kilometres northeast of the Preview SW deposit, which hosts indicated resources containing 158,300 ounces of gold (2.61 million tonnes grading 1.89 grams per tonne gold) and inferred resources containing 270,800 ounces of gold (5.70 million tonnes grading 1.48 grams per tonne gold), both based on a 0.50-gram-per-tonne-gold cut-off grade (see Comstock's news release dated Sept. 14, 2016).

The 2018 Preview SW winter diamond drilling program comprised five NQ diameter holes totalling 810 metres at the Preview North zone. The program was designed to test the interpreted downplunge and downdip continuity of gold mineralization identified during the 2017 winter and summer drilling programs (see Comstock's news release dated Sept. 28, 2017), and from 2013 drill hole PR13-183 (17.98 grams per tonne gold over 5.71 metres starting at 10 metres below surface, 5.96 grams per tonne gold over 5.66 metres starting at 19 metres below surface and 1.88 grams per tonne gold over 21.26 metres starting at 29 metres below surface). Visible gold was identified in four of the five holes drilled during the 2018 program, associated with sheared quartz-carbonate vein zones containing variable sulphide mineralization (arsenopyrite, pyrite plus or minus pyrrhotite).

Results from the 2018 program correlate well with previous results and with the Preview North zone 3-D mineralization model. Previous drilling has defined three principal parallel structures/vein zones along which the main mineralized intercepts occur, extending 350 metres along strike and up to a depth of 140 metres below surface. Higher grades intersected occur within a core zone over a strike length of approximately 170 metres.

The 2018 drilling program succeeded in identifying additional high-grade gold mineralization down dip and along strike of previous drill holes and enhances the understanding of the geometry of mineralization at Preview North. The current structural interpretation suggests the presence of steeply plunging high-grade gold zones at Preview North; however, further work and interpretation are required to resolve the continuity of individual gold intercepts between holes.

The company has integrated the new results from the Preview North zone into its project database, along with geological data collected, and will incorporate the new information into the 3-D model for Preview North to direct future exploration.

Significant weighted average intercepts are presented in the attached table.

           WEIGHTED AVERAGE INTERCEPTS FROM   
      PR18-183, PR18-184, PR18-185 AND PR18-187
  
Hole ID         From        To   Interval*        Au
                  (m)       (m)        (m)      (g/t)

PR18-183       69.50     72.15       2.65       4.60    
Including      70.65     72.15       1.50       7.89    
PR18-183       88.00    100.50      12.50       0.75    
Including      88.00     90.00       2.00       1.51    
And            95.00     99.00       4.00       1.38    
PR18-183      113.80    119.00       5.20       5.30    
Including     115.70    119.00       3.30       8.04    
PR18-184       93.00    101.90       8.90       0.92    
Including      93.00     95.50       2.50       2.00    
PR18-184      136.50    138.00       1.50       1.85    
PR18-185       23.00     44.50      21.50       2.87    
Including      27.80     28.70       0.90      10.25   
And            36.75     40.00       3.25      10.35   
PR18-187       18.50     27.50       9.00       2.76    
Including      19.50     20.50       1.00      15.33   
And            24.50     26.50       2.00       4.00    
PR18-187       31.00     39.00       8.00       7.47    
Including      33.00     33.75       0.75       74.6    
PR18-187       50.40     74.00      23.60       3.60    
Including      54.00     59.25       5.25       5.49    
And            64.40     66.50       2.10      13.85   

* Intervals listed are for core length. True 
thickness is interpreted to be 50 per cent to 
60 per cent for PR18-183 and PR18-184 and 
70 per cent to 80 per cent of core length for 
holes PR18-185 and PR18-187.

Methodology and quality assurance/quality control

The analytical work reported on herein was performed by ALS Canada Ltd., an internationally recognized analytical services provider. The company follows industry-standard procedures for the work carried out on the Preview SW project, with a quality assurance/quality control program. Blank, duplicate and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Comstock detected no significant quality assurance/quality control issues during review of the data.

Qualified persons

Kristopher Raffle, PGeo, principal and consultant of Apex Geoscience Ltd., and Christopher Livingstone, PGeo, project geologist of Apex Geoscience, qualified persons as defined by National Instrument 43-101, supervised the exploration work and diamond drilling program at the Preview SW project and reviewed, verified (including sampling, analytical and test data) and compiled the data reported herein. Mr. Raffle has reviewed and approved the scientific and technical disclosure in this news release as it relates to the Preview SW gold project.

About Comstock Metals Ltd.

Comstock Metals is an exploration company with several resource projects located in North America. Presently evaluating opportunities in the battery metal space, Comstock recently secured the Rawhide cobalt-silver project in Ontario adding to its two gold projects: the Preview SW project in Saskatchewan and the QV project located in the White Gold district of Yukon. Comstock recently announced the sale of its QV project to White Gold Corp. (see Comstock's press release dated Jan. 14, 2019).

Comstock also has a joint venture agreement and equity investment with E3 Metals Ltd., a petro-lithium company located in Alberta, Canada.

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