Comstock Purchases Rights to Lute Linux & On-Track.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--June 28, 2001

International Comstock Explorations Ltd. (OTCBB:ICKEF)("Comstock) wishes to announce that it has been assigned the rights to purchase all of the outstanding shares of Lute Linux.com Corp. ("Lute") by Argent Resources Ltd. ("Argent").

A letter of Intent ("LOI") dated June 28, 2001, between Comstock, Argent, Lute, On-Track Computer Training Ltd. ("On-Track") and related company On-Track Computer International Ltd. ("On-Track (UK)") sets out the terms of this assignment. On-Track and On-Track (UK) are part of this transaction by virtue of Lute's option to enter into a share exchange agreement with them.

On-Track and On-Track (UK) are computer training and consulting firms that have trained more than 100,000 employees of companies such as Air Canada, Shell Oil, Canada's Workers Compensation Board, the Ministry of Forestry, and many other companies and government ministries, over the course of the last ten years. Up until 2000, On-Track had a steady annual growth of 35%. Due largely to many of On-Track's new marketing and sales initiatives, since January 2000 On-Track's growth has increased nearly 300%. Over the past 12 months On-Track has formed partnerships with Microsoft's Technical Education Center, Oracle's Workforce Development Program, and other leading computer industry training centers.

Lute Linux.com is a software-development, training, and consulting company that has focused its Linux product line on materials that have immediate marketability, developing a full suite of Linux manuals and products that provide communications solutions to Linux users.

The LOI calls for the assignment to Comstock of the Share Crystallization Agreement entered into between Lute and Argent in exchange for: (1) Argent receiving 3,600,000 shares of Comstock; (2) Argent receiving $50,000 CDN from Comstock to cover legal expenses; and (3) and the assumption by Argent of an outstanding debt owed by Lute to Quest Ventures Inc. in the amount of $200,000 plus accrued interest whereby Argent agrees to settle this debt through the issuance of common shares of Argent, subject to CDNX approval (the "Assignment"). Upon execution of the Assignment by Argent, Comstock, On-Track, On-Track (UK) and Lute agree to enter into separate Share Exchange/Crystallization Agreements. These Share Exchange/Crystallization Agreements will result in Comstock receiving all of the issued and outstanding shares of On-Track and On-Track (UK) and all of the issued and outstanding special warrants of Lute in exchange for common shares of Comstock.

Prior to the Assignment and Comstock entering into Share Exchange/Crystallization Agreements with On-Track, On-Track (UK) and Lute, Comstock will perform a consolidation of all of its common shares issued and outstanding on a 5:1 basis. In addition, Comstock will perform private placement financings totalling a minimum of $450,000 CDN.

On-Track, On-Track (UK) and the shareholders of each will execute two separate Share Exchange Agreements whereby On-Track's and On-Track (UK)'s shareholders will receive common shares of Comstock on a one-for-one share exchange for all of the issued and outstanding shares of On-Track and On-Track (UK). Lute and Lute's special warrant holders will execute a Share Crystallization Agreement whereby Lute's special warrant holders will receive 2,945,000 common shares of Comstock cumulatively in exchange for all of the issued and outstanding special warrants of Lute.

Comstock will incur all costs related to the Assignment and any regulatory matters associated with it. The developing and expanding business of Lute and On-Track will be funded by means of equity financing of Comstock on the NASD Over-the-Counter Bulletin Board ("OTCBB"). Comstock and Argent have one director in common. This director has and will abstain from voting on any corporate matters that pertain to the proposed transaction. A name change will be considered to better reflect the nature of Comstock's business activities as a result of its acquisitions.

Comstock has arranged a bridge financing for $100,000 (CDN) to fund the operations of On-Track and Comstock during the closing period. The bridge financing is in the form of a demand note and bears an interest rate of 1% per month (12.68% per annum); in addition, applicable bonus shares are payable.

International Comstock Explorations Ltd. ON BEHALF OF THE BOARD Bruce Lock Director

Note: This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by ICKEF with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in financial results, dependence on new product development, rapid technological and market change, failure to complete the manufacture of network equipment on schedule and on budget, financial risk management and future growth subject to risks, and adverse changes in the regulatory or legislative environment. ICKEF undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.