CSL Comstock Metals Ltd

Comstock Metals Ltd. (TSX VENTURE:CSL) ("Comstock" or "the Company") is pleased
to announce a closing of the private placement (the "Offering") previously
announced on July 15 and July 18, 2013. The Company issued 3,141,177
flow-through common shares at a price of $0.17 per share for gross proceeds of
$534,000, and 330,000 units at a price of $0.15 per unit for gross proceeds of
$49,500. Each unit is comprised of one common share and one-half of a warrant,
each full warrant exercisable to acquire one common share of the Company for a
period of two years, at a price of $0.30 per share.


In connection with the closing, the Company paid finder's fees consisting of
cash in the amount of $27,000.


The proceeds of the placement of flow-through shares will be used by the Company
to incur eligible Canadian Exploration Expenses, as defined by the Income Tax
Act (Canada). The proceeds of the placement of units will be used for general
working capital. The securities issued pursuant to the Offering are subject to a
four month hold period, expiring on November 30, 2013.


The Company may complete additional closings pursuant to the Offering, as
described in its July 15 and 18, 2013 news releases.


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. 


For more information about Comstock Metals Ltd., please go to
www.comstock-metals.com.


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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