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CSL.V Stock Symbol

2011

Comstock Metals Soil-Sampling Returns 0.396 G/T Gold In The QV Claims, White Gold District, Yukon

November 9, 2011, Vancouver, BC – Comstock Metals Ltd. (the "Company") (TSX-V:CSL) is pleased to announce that  partial results from its Phase 2 soil-sampling program on the QV Claims in the White Gold District of Yukon have been received.  In 2011, 2,974 soil samples were taken in total.  The Company is awaiting results for 1,200 additional soil samples. 

Phase 2 soil-sampling program consisted of two parts:  (a) ridge and spur, and (b) grid soil sampling.  The ridge and spur covered the northern part of the Claims, and the grid soils were focused on the southern gold anomalies discovered in the Phase 1 soil-sampling program. The very encouraging ridge and spur soil results which cover a large area will be followed by detailed grid soil sampling program next year. The two gridded areas in the southern part of the QV claims were sampled at 100 m-line spacing, and the soil samples were taken 50 m apart along those lines. 

Two soil geochemical anomalies, the first measuring 2,500 m by 500 m and the second measuring 1,300 m by 350 m, are defined by anomalous gold (50 to 396 ppb), As (100 to 863 ppm), Hg (0.5 to 2.31 ppm), and Ba (900 to 2,600 ppm) concentrations.  

Two obvious anomalous gold mineralized-trends have been identified through the grid soil sampling.  One trend is oriented north-easterly that measures 2,500 m by 500 m.  The north-easterly trends are known to carry ore-grade gold mineralization, both at Kinross’s Golden Saddle and Kaminak’s Coffee Project.  The second anomalous zone, measuring 1,300 m by 350 m, appears to have a north-westerly trend, which parallels the known regional trends in the White Gold District.

Comstock’s soil samples results are very encouraging, and the Company is planning on trenching and drilling in 2012 on the targets generated from the 2011 soil-sampling program.  Please refer to the following link for details of the grid soil sampling results:
http://comstock-metals.com/_resources/Soil_Au_over_Mag.jpg
Please also refer to the following link for the Comstock QV claims location:
http://comstock-metals.com/_resources/white_gold_map.pdf

Gordon Davidson, P. Geo., has reviewed technical information in this News Release.

About Comstock Metals Ltd.

Comstock has optioned 494 claims covering 10,374 hectares (25,634 acres) within the prolific White Gold District in the Yukon Territory about 70 kilometres south of Dawson City. The claims were optioned from Shawn Ryan, a Yukon based prospector responsible for the discovery of two of the prominent gold discoveries in the White Gold district - Kinross Gold’s 1.5 million ounce Golden-Saddle deposit and Kaminak Gold’s Coffee projects.  The Company has completed two soil sampling programs on the Yukon property with encouraging results.

The Company is also earning a 75% interest on the Corona project by an option agreement from Golden Goliath Resources (GNG).  Comstock’s Corona Au-Ag project is located in the prolific Uruachic Mining camp in Chihuahua, Mexico, and the Company is currently planning an exploration program to generate drill targets from earlier work.  Previous reverse circulation drilling identified both bulk tonnage and high-grade vein type gold/silver targets, some of which the Company plans to diamond-drill.

For the Corona Gold Silver Project location please visit the following link:
http://comstock-metals.com/_resources/Corona-SMO.jpg

To learn more please visit the Company’s website at: www.comstock-metals.com

For further information, contact Rasool Mohammad or Larry Johnson at 604-639-4533.

COMSTOCK METALS LTD.

Rasool Mohammad, B.Sc. (Mining)
President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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