SOURCE: Franklin Mining, Inc.

November 15, 2007 08:30 ET

Escala Mine to Begin Early Processing

LAS VEGAS, NV--(Marketwire - November 15, 2007) - A Franklin Mining, Inc. (PINKSHEETS: FMNJ) manager has confirmed that in preparing The Escala Mine to resume production, an estimated 200 tons is ready for immediate shipment to the processing plant. As work crews continue clearing tunnels and shafts, shipments will continue to be prepared. Including today's announcement, November's production is now projected to be in excess of 450 tons.

As was previously announced, production from the Escala during November continuing through December and January will be processed by a plant located approximately 70 Km away. Franklin CEO William Petty continues his review of options for erecting an on-site processing plant at the Escala and hopes to announce his decision by the end of November.

About the Escala Project: Comprising three separate mining applications, COMIBOL's Escala Mine concession totals 2,000 hectares located in the Sud Lipez Province, which is near Bolivia's border with Argentina. Franklin Mining, Bolivia S.A. has been awarded a contract to mine 500 hectares known as The Escala Mine. Escala II, Escala III, Achacana and Aguas Escala are mining applications currently assigned to another mining company.

The original Escala Mine was established during the Spanish colonial period and has, intermittently, been mined for lead, zinc, gold and silver.

In 2007, Franklin Mining, Bolivia S.A. negotiated an agreement with COMIBOL to resume mining operations within the area of the original concession. It is this original concession which contains all utilities, offices, shops and housing.

Corporacion Minera de Bolivia, often known as COMIBOL, is the National Mining Company of Bolivia.

About Franklin Mining, Inc.: Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Mining, Bolivia S.A. is a wholly owned subsidiary. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas, Argentina S.A. Additional company information is available at www.franklinmining.com.

DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining, Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.

For further information, please visit our website (www.franklinmining.com) or contact our Investor Relations firm, A. S. Austin & Company, 1-702-386-5379.

Contact Information

  • Contact:
    A. S. Austin & Company
    1-702-386-5379