CSL Comstock Metals Ltd

Comstock Metals Ltd. (TSX VENTURE:CSL) ("Comstock" or "the Company") announces
that, as a result of a review by the British Columbia Securities Commission (the
"BCSC"), we are issuing the following news release to clarify and retract
certain technical disclosures regarding our Corona Gold-Silver Project in
Mexico. 


In the Corona Project video on the Corona Project page of its website, the
Company disclosed a 90,647 ounce gold resource for the Northeast Zone of the
project. In addition, under the "Highlights of 2008 work" heading on the Corona
Project page, the Company disclosed a preliminary geological resource of 90,000
ounces of gold. The Company retracts the resource as it was not prepared in
accordance with the Canadian Institute of Mining, Metallurgy and Petroleum
("CIM"), CIM Standards on Mineral Resources and Reserves, Definitions and
Guidelines prepared by the Standards Committee on Reserve Definitions and
adopted by the CIM Council on November 27, 2010, nor is it supported by a
technical report prepared in accordance with NI 43-101. The Company hereby
retracts the resource estimate and states that any references to an estimated
mineral resource for the Corona Project should not be relied on.


A copy of the current technical report on the Corona Project, titled "Technical
Report On The Corona Gold-Silver Property Sierra Madre Occidental, State Of
Chihuahua, Mexico", SEDAR filed July 26, 2011, is available at the SEDAR website
(www.sedar.com) under the Company's profile and filing documents.


The technical information in this Release has been reviewed by Duncan McBean, P Geo.

About Comstock Metals Ltd.

Comstock Metals' flagship project is the QV Property in the Yukon Territory,
which covers 14,180 hectares (35,000 acres) within the prolific White Gold
District in the Yukon Territory, about 70 kilometres south of Dawson City.
Kinross Gold's Golden Saddle deposit is 10 km to the southeast, and Kaminak
Gold's Coffee projects are about 40 km to the south. 


Comstock's Corona Gold-Silver Property is located in the prolific Sierra Madre
Occidental in Chihuahua, Mexico. The Company completed a drill program in the
spring of 2012, which discovered two new zones of gold and silver
mineralization. 


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.


FORWARD-LOOKING INFORMATION

This News Release includes forward-looking information and statements, which may
include, but are not limited to, information and statements regarding or
inferring the future business, operations, financial performance, prospects and
other plans, intentions, expectations, estimates, and beliefs of the Company.
Information and statements which are not purely historical fact are
forward-looking statements. Forward-looking information and statements involve
and are subject to assumptions and known and unknown risks, uncertainties, and
other factors which may cause actual events, results, performance, or
achievements of the Company to be materially different from future events,
results, performance, and achievements expressed or implied by forward-looking
information and statements herein. Although the Company believes that any
forward-looking information and statements herein are reasonable, in light of
the use of assumptions and the significant risks and uncertainties inherent in
such information and statements, there can be no assurance that any such
forward-looking information and statements will prove to be accurate, and
accordingly readers are advised to rely on their own evaluation of such risks
and uncertainties and should not place undue reliance upon such forward-looking
information and statements. Any forward-looking information and statements
herein are made as of the date hereof, and the Company assumes no obligation and
disclaims any intention to update or revise any forward-looking information and
statements herein, or to update the reasons that actual events or results could
or do differ from those projected in any forward-looking information and
statements herein, whether as a result of new information, future events or
results, or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Comstock Metals Ltd.
Rasool Mohammad, B.Sc. (Mining)
President & CEO
(604) 639-4533


Comstock Metals Ltd.
Larry Johnson, B.Sc. (Geology)
Chief Financial Officer
(604) 639-4533
info@comstock-metals.com
www.comstock-metals.com

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