Comstock Options Grant

March 21, 2016

Vancouver, BC – Comstock Metals Ltd. (TSX-V: CSL) (“CSL” or the “Company”) is pleased to announce certain officers and directors have been issued an aggregate of 5,650,000 options pursuant to the Company’s option plan. Each option is exercisable into one common share at an exercise price of $0.05 at any time on or before the fifth anniversary of its issuance. 20% of the options vest on the grant date and thereafter 20% vest every six months.

Douglas Turnbull, P.Geo., a Qualified Professional as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure in this press release.

About Comstock Metals Ltd.

Comstock Metals Ltd. is an exploration company with its flagship QV Property, which covers 16,335 hectares (40,364 acres) within the White Gold district of the Yukon Territory, about 70 kilometres south of Dawson City. To date, the Company has completed 3,400 metres of drilling in 17 drill holes at the VG Zone and in July of 2014 announced an Inferred mineral resource at the VG Zone of 4.4 million tonnes grading 1.65 g/t Au containing 230,000 ounces of gold at a 0.5 g/t Au cut-off (See July 8, 2014 News Release). The VG Deposit remains open in all directions and is situated proximal to other untested sub- parallel structures. The Stewart and Shadow zones peripheral to the VG zone provide additional blue-sky potential. Comstock also owns early stage uranium claims in Saskatchewan.

For more information about Comstock Metals Ltd., please go to or contact: Ehsan Dana, B.A.Sc. (Mining)

President, CEO & Director

Phone: (604) 639-4533

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.