Slide 1: Comstock Mining Inc
ep Comstock MINING INC
Slide 2: Legal Disclaimer and Forward Looking Statement
LEGAL DISCLAIMER AND FORWARD LOOKING STATEMENT ‘This presentation has been prepared for introductory informational purposes ony. This presentation is being made avaiable ona confidential basis toa limited number of qualified recpients. This presentation may not be used for any other purpose. Any rep
Slide 3: Expanded mineral resource nearly 60% since May 2010 NI 43-101 Report
Expanded mineral resource nearly 60% since May 2010 NI 43-101 Report = 1.06 million Measured and Indicated (M&q) Gold Equivalent Ounces (Au Eq. 02) (a 38% increase); 380,000 Inferred Au Eq Oz (a 158% increase) * 899,000 M&dl ounces of Gold (a 41% increase); 10.6 million M&d ounces of Silver (a 25% i
Slide 4: Management team
‘Corrado De Gasperis_ = Che! Executive Ole, President ang Principal Finacial Oticor of Comstock Mining since Ape 2010, * Over23 years of expmtance i arafactuing, neta and mining operational and franc managemect consracton projet ‘management nd eapal marke Larry 6. Martin, CPG * Chet Geologiat since
Slide 5: Recent milestones November 2009 to August 2010
November 2009 ‘April 2010 May 2010 Jy 2010 ‘August 2010 + Moet & Company ' 800 appomts new | |+ Landmark Barre | |+ Majriond + Completion of retained a8 Sato President & CEO | |" Dolbearwi<3-101 | | wansactons closed | | updated Batre Firanes Advaoe ' 800 adopts new | | TecmncalRepot | | 2 Donovan D
Slide 6: World Class Historic Mineral District
* World Class Historic Mineral District ~ Produced 8.2 milion ounces of gold and 192 million ounces of silver = 33 bonanza discoveries in the 1800's * Under-explored gold and silver district in terms of modern exploration * Highly fragmented land positions, locally mined ~ Over 400 companies (130 pu
Slide 7: Consolidated substantially all of the Comstock and Silver City's mineralized trend
= Consolidated substantially all of the Comstock and Silver City’s most prominent mineralized trend Control claims along 6+ mile portion of the trend ~Amassed a vast repository of historical and current data Historically significant U.S. precious metal trends = Well permitted, production ready infra
Slide 8: Target Status
TARGET STATUS Pryce np need Acquired (4/10) Donovan (Lucerne) (9 Patented and ‘Acquited (7/10) 12 Unpatented Claims) Dayton T Leased w/ purchase (Warbe/Athambra/Kossuth/Cherokee) option (7/10) Dayton 11 Leased w/ purchase (etropoltan/Peach) ‘option (8/10) we ‘Acquied in (Qustice/Woodvile/Keystone/Ov
Slide 9: Historic Comstock district
PALE istoric Comsto 4 — Uniquely provides high potential for efficient | exploration and development opportunities ed Known High Gra
Slide 10: Slide 10
Slide 11: Resource estimate: Average Grade and Contained Ounces
‘Average Grade Contained Ounces Tons | Aw 49 fu 49 (0005) | coz/ton) | (oz/ton) | ounces) | ounces) Measured 13,430 0.032| 0.372 425,000 4,990,000 500,000 Indicated 18,080| 0.026] 0.310 474,000 5,600,000 560,000 Measured and Indicated 31510] 0.029] 0.336] 899,000] 10,590,000] 1,060,000 Inferred 0.02
Slide 12: Result of Behre Dolbear
Result of Behre Dolbear Riot eres apie oare) Average Grade | Contained Ounces 66.030 Tonnes Au | Ag | Au | Ag ‘Au Eq Oz (ooo) | cr | cai | counces) | (ounces) | Measured 12,210| 1.084 12.739 425,000 | 4,990,000 500,000 Indicated 16,400 | 0.898 | 10.610 | 474,000 | 5,600,000 560,000 ‘Measured and Ind
Slide 13: Significant objectives to production
The following table presents significant objectives to production Drilling [> z= Metallurgical Program Mine Plan & Pit Design Feasibility Study/PEA NI 43-101 Reports Production @ Comstock.=
Slide 14: Near Term Production - Permits in Place
Near Term Production - Permits in Pla Required Regulatory and Environmental Permits Are Secured *= Water Pollution Control Permit (Nevada Division of Enviconmental Protection (NDEP)) *Mine Reclamation Permit (and Financial Assurance) “Air Quality Control Permit (NDEP) *Storm Water (Orainage) Perit (
Slide 15: Use of Proceeds
Use of Proceeds Mobile Mine Equipment $ 2.50 Leach Pad Expansion 2.50 Crushing Plant & Lab Refurbishment 3.00 Capital Items Related to Comstock Mining Production $ 8.00 Exploration & Mine Development 15.00 Production Start-Up 4.00 Land Acquisitions 4.00 General Corporate Purposes/Feasibility 1.75 Ot
Slide 16: Factors that influence an asset's value
= Fundamental characteristics of the resource are the primary factors that influence an asset's value |- Proximity to proven mining deposits and operations ~ History of previous mining operations - Occurrence of other precious (silver) or base metals - Grade - Tons = Mine location and the political
Slide 17: Capitalization as of August 31, 2010
ASof ‘August 31, 2010 ‘Actual As Adjusted ‘cash and Cash Equhalents $366 $33,116 Total Debt $49 sre) Convertible Stock 7.5% Series Al Convertible - $20,912 7.5% Series A2 Convertible $8,483 7.5% Series 8 Convertible = $35,750 Common Stock Stockholders Equity (Defct) ($34,060) $31,085 ‘Total Capitali
Slide 18: Mineral Industry Advisors
‘MINERAL INDUSTRY ADVISORS IpRNNRNperernesTTER | Behre Dolbear, Mineral Industry Advisors Kenneth D. Moeis, Founder and CEO. Mark W. Henkels, Managing Directoy, Meals and Mining ‘GEOSTATSICAL MODELING > || srmrecicxanauns TECHBASE ia rnrrorzarcerTfi : ‘TECHBase International, Ltd. ¥mmew ry ict! Nore
Slide 19: Expanded mineral resource nearly 60% since May 2010 NI 43-101 Report
Expanded mineral resource nearly 60% since May 2010 NI 43-101 Report = 1.06 million Measured and Indicated (M&q) Gold Equivalent Ounces (Au Eq. 02) (a 38% increase); 380,000 Inferred Au Eq Oz (a 158% increase) * 899,000 M&dl ounces of Gold (a 41% increase); 10.6 million M&d ounces of Silver (a 25% i
Slide 20: Comstock Mining Inc
ep Comstock MINING INC
Slide 21: North American Gold Exploration Stage / Junior Gold Producers
ep Comstock MINING INC -North American Gold Exploration Stage “Junior Gold Producers
Slide 22: Untapped Opportunities Throughout the Comstock District
@B Comstock nn
Slide 23: Trading Comp Summary – Junior Gold Producers