Tonagold To Acquire Lucerne Deposit and Expand Comstock Lode Position

LA JOLLA, CA - Tonogold Resources has entered into a comprehensive and binding agreement with Comstock Mining Inc which, on completion will provide Tonogold with, amongst other matters, 100% of the Lucerne project (including the Lucerne gold/silver deposit) in Storey County, Nevada. This New Agreement leverages off the agreement entered into in October 2017.

The provisions in respect of Tonogold’s Expanded Land Position of the New Agreement enables Tonogold to initiate and roll-out a significant new leg to its regional strategy, which will be the focus of a systematic and aggressive exploration program commencing as soon as possible. The results of this program are expected to substantially change (improve) the already significant value accretive nature of our acquiring 100% of Lucerne. Comstock will be granted a Net Smelter Return royalty of 3% from production from the Tonogold Expanded Land Position Area, reducing to 1.5% after the first year of production.

The company’s address is 5666 La Jolla Blvd., #315, La Jolla, CA 92037, (858) 456-1273, tonogold.com.