Comstock Options Grant and E3 Metals Update

Press Release

Vancouver, BC – April 5, 2019 – Comstock Metals Ltd. (TSX-V: CSL) (“CSL” or the “Company”) announced today that certain officers and directors have been issued an aggregate of 2,000,000 options pursuant to the Company’s option plan effective today with each such option being exercisable into one common share at an exercise price of $0.05at any time on or before the fifth anniversary of its issuance.  One-half of the options vested on grant and the remainder vest on the six month anniversary of the date of grant.

The Company also announced that E3 Metals Corp., a TSX Venture Exchange listed issuer in which the Company holds 1,000,000 common shares and 1,000,000 common share purchase warrants (with each warrant being exercisable into one common share of E3 Metals at any time on or before August 20, 2019 at a price per share of $0.60, announced yesterday that it closed an oversubscribed non-brokered private placement of units raising total gross proceeds of $1,390,194.05.  As set forth in E3’s press release, E3 plans on deploying the raised capital towards the continued progression of its proprietary Ion Exchange Lithium Extraction Technology.

About Comstock Metals Ltd.

Comstock Metals Ltd. is a diversified mineral exploration company advancing its wholly owned projects located in North America and holds several equity positions in companies with large mineral resources.

• 100% owned Preview SW Gold Project in Saskatchewan (43-101 Resource Stage)
• 100% earn in option on the Rawhide Cobalt-Silver Project in Ontario
• Joint Venture and equity investment with E3 Metals Corp. (TSX-V: ETMC), a petro-lithium company developing lithium extraction technology in Alberta. (43-101 Resource Stage)
• Equity investment in White Gold Corp. (TSX-V: WGO) developing its portfolio of properties located in the White Gold District of the Yukon (43-101 Resource Stage)

For more information about Comstock Metals Ltd., please visit www.comstock-metals.com or contact:

Steven H. Goldman

President, CEO and Director
Comstock Metals Ltd.
(416) 867-9100
s.goldman@goldmanhine.com

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