VIRGINIA CITY, NV--(Marketwired - January 15, 2015) - Comstock Mining Inc. ("Comstock Mining" or "Comstock") (NYSE MKT: LODE) a producing, gold and silver mining company, based in Nevada's historic Comstock Lode District and representing more than 150 years of mining history and mining innovation, has agreed to license an initial five metric tons of gold (or gold-equivalent) of validated, measured, and indicated resources to support the value of the initial 50 Million HOPE Gold Coins being sold. The HOPE Gold Coin is a new cryptographic currency being launched by the HOPE Gold Coin Charitable Trust (the "HOPE Charitable Trust"). Ultimately, the maximum number of HOPE Gold Coins in circulation will be supported by 100 metric tons of physical gold bullion, preferably from Comstock, purchased and directly owned by the HOPE Charitable Trust.
Proceeds from the sale of HOPE Gold Coins will be expressly used by the HOPE Charitable Trust to support charitable, aid and other humanitarian causes worldwide. By purchasing HOPE Gold Coins, buyers are directly helping others while acquiring a valuable asset that can also be donated or used for other worthy purposes, effectively increasing the benefit to charities or others.
"Philosophically, we believe that gold is the ideal asset for this purpose because of its universal acceptance as a precious metal store of value and its strong historical association with currencies around the world. Initially, we prefer using gold resources as it represents the safest, most efficient and environmentally friendly approach, plus there seems no safer vault than the earth itself." - Peter Hsu, a member of the Protector Committee of the HOPE Gold Coin Charitable Trust.
Comstock Mining is a socially responsible, actively producing gold and silver mining company that is simultaneously advancing both its environmental and economic objectives. Comstock's philosophies are fully aligned with the HOPE Charitable Trust's philanthropic mission and purpose. The Comstock Lode has a long and profound association with technological, monetary and industry innovations dating back over 150 years.
Corrado De Gasperis, President and CEO of Comstock Mining Inc., stated: "HOPE Charitable Trust is an exceptional opportunity for us to safely and responsibly enhance revenue, support a charitable endeavor of the highest purpose, and sustain Comstock innovations that define our brand. We are extremely selective with our strategic alliances and the Comstock brand and proud to partner with this exceptional organization."
The gold and silver produced by Comstock is responsibly mined with reclamation and restoration standards, far exceeding minimum compliance requirements. Comstock Mining has an internal policy as well as a legal commitment to practice concurrent reclamation as part of its on-going operations. The company is committed to full preservation and restoration of historic structures either directly or through its support of the Comstock Foundation for History and Culture.
Comstock Mining owns or controls over 8,000 acres in the Comstock Historic District, a 14,000-acre historic, world-class mining district that includes the Comstock Lode, one of the world's richest and most important gold and silver discoveries, having produced over 8 million ounces of gold and over 192 million ounces of silver.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere.
About Comstock Mining Inc.
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company. The company has extensive, contiguous property in the historic Comstock and Silver City mining districts and adheres to socially conscious and environmentally sustainable mining practices. Because of the Comstock District's historic significance and its historic, world-class bonanza precious metal grades, the geology is well known and has been extensively studied by global industry, academic and regulatory experts.
About the HOPE Gold Coin Charitable Trust
The HOPE Gold Coin Charitable Trust is a charitable trust under UK law with built-in checks-and-balances designed to ensure its management and operational integrity and transparency. The Charitable Trust was expressly established to undertake the development, production, sale and management of the HOPE Gold Coin as well as to ensure that proceeds from the sale of HOPE Gold Coins will be used for charitable causes and activities.
The HOPE Gold Coin was created and is administered by The HOPE Gold Coin Charitable Trust (the "Charitable Trust"). All proceeds derived from the HOPE Gold Coin will be solely used by the Charitable Trust to support philanthropic and charitable activities. The HOPE Gold Coin is a cryptographic currency created by the Charitable Trust. To support the value of the HOPE Gold Coin, the Charitable Trust has entered agreements to license mineral resources residing in the ground that are validated according to industry standards, but not physical gold.
The estimated quantities and amount of mineral resource licensed for each HOPE Gold Coin is equal to the value of 1/10th of one gram of gold or gold equivalent.
The mineral resources licensed are categorized according to industry standards as inferred, indicated and/or measured mineral resources that may or may not be a probable or proven reserve. Factors preventing inferred, indicated and/or measured mineral resources from also being designated a probable or proven reserve include economically unfeasible high extraction and processing cost and/or the lack of required permits.
The Charitable Trust chose gold as the commodity to be licensed because of its recognized value as well as historic association with and/or use as a medium of exchange. Mineral resources believed to contain gold and silver were chosen for security and for equally important environmental reasons. There is no better vault on earth than the earth itself and coincidentally preserves land for other use.
The purchase, ownership and/or use of HOPE Gold Coins does not in any way or form imply, infer or in any way grant or entitle the purchaser, owner and/or user any interest in or ownership of any mineral resource licensed. The HOPE Gold Coin cannot be redeemed or exchanged for any real, physical gold or any other precious metal.
THE HOPE GOLD COINS ARE NEITHER INTERESTS IN NOR THE RESPONSIBILITIES OR OBLIGATIONS OF ANY MINING COMPANY LICENSING MINERAL RESOURCES TO THE HOPE GOLD COIN CHARITABLE TRUST AND/OR, ANY OF THEIR SUBSIDIARIES, AFFILIATES OR ANY OF THEIR ASSETS, AND ARE NOT REDEEMABLE OR OTHERWISE EXCHANGEABLE FOR GOLD, SILVER OR ANY OTHER REAL PROPERTY, PERSONAL PROPERTY OR INTELLECTUAL PROPERTY OF ANY MINING COMPANY. MEASURED, INDICATED and INFERRED GOLD-EQUIVALENT RESOURCES ARE NOT EQUIVALENT TO GOLD OR SILVER RESERVES.