Comstock Inc. · AMEX:LODE
Comstock — Comstock Mining — Dahlman Rose & Co. Emerging Miners CEO Conference 2012
27 slides from Comstock's conference presentation, Jan 13, 2012
Slide 1: Dahlman Rose & Co. Emerging Miners CEO Conference
1 Dahlman Rose & Co. Emerging Miners CEO Conference January 12 - 13, 2012 Omni Berkshire Place – New York City
Slide 2: Why Comstock?
2 Why Comstock? ▪ Nevada's historically richest mining district; vastly underexplored by modern methods ▪ Low risk jurisdiction ▪ 6,099 acres of contiguous mineralized trend (almost 6 miles) ▪ Strong management team with development, operational, regulatory and financial experience ▪ Well - capitali
Slide 3: Consolidated Entire Comstock District
3 Consolidated Entire Comstock District ▪ World Class Historic Mineral District – Produced 8.2 million oz . of gold & 192 million oz . of silver – 33 bonanza discoveries - 1800 ’ s ▪ Highly fragmented land positions, locally mined – Over 400 companies (130 publicly traded) working in the Comstock in
Slide 4: Our Near-Term Focus
4 Our Near - Term Focus Lucerne Resources Area Dayton Resources Area
Slide 5: Epithermal, High-Grade District
5 Epithermal, High - Grade District “The author believes the Comstock Mine Project represents a well - explored, epithermal, precious metal deposit within a world - class mining district…. The geology of the project area is well described and understood…. The density of geologic data is high, and th
Slide 6: Lucerne Resource Area
6 6 Lucerne Resource Area 1.95 million Gold ounces & 17.5 million Silver ounces – 2011 Starter Mine 4+ years – Near surface – Oxide ores – Low Strip ratio – Persistent, high grades – Excellent Infrastructure – Open on East and Northern borders and depth
Slide 7: Lucerne Resource Area
7 7 Lucerne Resource Area 1.95 million Gold ounces & 17.5 million Silver ounces – 2011 Starter Mine 4+ years – Near surface – Oxide ores – Low Strip ratio – Persistent, high grades – Open on East and Northern borders and depth Excellent, Permitted Infrastructure
Slide 8: Dayton Resource Area
8 Dayton Resource Area 0.45 million Gold ounces & 2.9 million Silver ounces – Near surface – Oxide ores – Low Strip ratio – Persistent, high grades – Open on West. South and Northern borders and depth
Slide 9: Dayton Resource Area
9 Dayton Resource Area 0.45 million Gold ounces & 2.9 million Silver ounces – Near surface – Oxide ores – Low Strip ratio – Persistent, high grades – Open on West. South and Northern borders and depth
Slide 10: Mineral Resource Growth and Behre Dolbear Estimate
10 - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 GOAL Dec-13 Sep-11 Aug-10 May-10 3,250,000 1,780,000 1,060,000 770,000 1,500,000 990,000 380,000 147,000 250,000 200,000 190,000 108,000 Measured and Indicated Inferred Historical Reported Mineral
Slide 11: Untapped Opportunities
11 Untapped Opportunities Extremely productive and cost effective exploration approach with structural control – Spring 2010 drill program hit mineralization in 49 of 51 holes – Dayton hit mineralization on 63 of 64 holes – East - Side hit mineralization on all 40 holes Historic Bonanzas Mined on Co
Slide 12: Epithermal, High-Grade District
12 Epithermal, High - Grade District “The author believes the Comstock Mine Project represents a well - explored, epithermal, precious metal deposit within a world - class mining district…. The geology of the project area is well described and understood…. The density of geologic data is high, and t
Slide 13: Production
13 PRODUCTION
Slide 14: Production Permits in Place
14 Production Permits in Place
Slide 15: Production Permits in Place
15 Production Permits in Place
Slide 16: American Flat - Permits in Place
16 American Flat - Permits in Place Required Regulatory and Environmental Permits Are Secured – Water Pollution Control Permit (Nevada Division of Environmental Protection (NDEP)) – Mine Reclamation Permit (Financial Assurance) – Storm Water (Drainage) Permit (NDEP) – Water Rights (Nevada Division o
Slide 17: Exploration Permits in Place
17 Exploration Permits in Place
Slide 18: Comstock Heap Leach Project
COMSTOCK « Heap Leach Project
Slide 19: Comstock Merrill Crowe Project
Comstock « Merrill Crowe Project
Slide 20: 2012 Objectives
20 2012 Objectives Projects Dec Jan Feb Mar Apr May Jun Deliver Mobile Equipment Pond Construction/ Solution Process Air Quality Permit Heap Leach Project Crusher Installation Pre - stripping Stack First Ore Exploration
Slide 21: Corporate
21 CORPORATE
Slide 22: Board of Directors
22 Board of Directors Board of Directors Competencies & Experience John V. Winfield ▪ Lead Investor, Chairman - of - the - Board of Comstock Mining Inc. ▪ Chairman - of - the - Board, President and CEO of InterGroup Corporation Inc., Extensive experience as CEO of public companies; an entrepreneur,
Slide 23: Strong Production-Focused Mgmt Team
23 Strong Production - Focused Mgmt Team Core Team Competencies & Experience Corrado De Gasperis ▪ Chief Executive Officer, President and Principal Financial Officer of Comstock Mining since April 2010, Director since June 2011 ▪ Over 23 years of experience in manufacturing, metals and mining operat
Slide 24: Outstanding Institutional Investors
24 Outstanding Institutional Investors VALUATION Current Share Price (1/10/12) $ 2.00 52 Week High $ 3.99 52 Week Low $ 1.56 Market Cap (mm) $ 184.3 Common Shares Outstanding (mm) 28.2 Common Shares - if converted (mm) 92.1 Preferred Convertible Stock $ 60.5* TOP INSTITUTIONAL HOLDERS 1. Winfield Gr
Slide 25: Capital Structure
25 Capital Structure (1) The recapitalization transactions concluded on October 20, 2010 including debt - for - equity exchange, new equity raise and is suance of 862.5 Series A - 1 preferred shares to Northern Comstock LLC. (2) The debt that remained after the debt - for - equity exchange was indeb
Slide 26: Outstanding Growth Profile
26 Outstanding Growth Profile ▪ Near Term Production ▪ Control substantially all of Nevada’s historically richest mining district and u nderexplored by modern methods with 30 + Years of Projected Mine Life ▪ Strong management team with development, operational, regulatory and financial experience ▪
Slide 27: 1200 American Flat Rd PO Box 1118 Virginia City, NV 89440 775 -
27 1200 American Flat Rd PO Box 1118 Virginia City, NV 89440 775 - 847 - 5272 Main 775 - 847 - 4755 Investors 7 800 - 750 - 5740 info@comstockmining.com 8 www.comstockmining.com January 2012
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