Comstock Receives TSX Venture Exchange Approval to Extend Warrant Expiry Date

Vancouver, BC – May 31, 2018 – Comstock Metals Ltd. (TSX-V: CSL) (“Comstock” or the “Company”) is pleased to announce that the TSX Venture Exchange has approved the previously disclosed extension of the expiry date of the common share purchase warrants issued in connection with the private placement of 12,506,671 units that was completed in two closings on June 9, 2016 and June 27, 2016. Each of the 12,506,671 warrants permit the holders thereof to acquire one common share at an exercise price of $0.18 and originally expired on June 9, 2018 or June 27, 2018, depending on which closing they were issued under. The Company is extending the expiry dates by 18 months to December 9, 2019 or December 27, 2019, as applicable. Approximately 9% of the warrants are held by insiders of the Company.

The exercise price of $0.18 and all other terms of the warrants will remain unchanged for the extended exercise period.

About Comstock Metals Ltd.

Comstock Metals Ltd. is a Canadian-focussed mineral exploration company with various resources projects located in Canada.

For more information about Comstock Metals Ltd., please visit or contact:

Steven H. Goldman
Interim President, CEO and Director

Phone: (416) 867-9100

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.