SOURCE: Franklin Mining, Inc.

January 08, 2008 08:30 ET

Escala Productivity Exceeds Forecast in 2007

Franklin Mining, Bolivia SA Engineers and Management Team Return to the Escala Mine

LAS VEGAS, NV--(Marketwire - January 8, 2008) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) CEO, William Petty, has concluded meetings with the Escala Mine's on-site engineer, accountant and other managers and is pleased to report that total production from the Escala Mine's tunnel clearing exceeded forecast in both November and December 2007. November and December production available for sale was significantly exceeded.

With clearing and other tunnel preparation work nearly completed, crews began placing hydraulic equipment in one of two initial shafts and Franklin's mining partners have achieved daily production rates which they believe will allow them to achieve a 100% gain over their contractual commitment of 260 tons per month.

Franklin's Dr. Jaime Arrencibia has today reported that our mining partners now have a total of seven shafts available for production as soon as hydraulic equipment is available. Franklin will purchase the additional equipment needed to maximize production in all seven shafts.

Upon their return to the Escala, Dr. Arrencibia and an outside consultant will complete the testing and gather the samples necessary to confirm their belief that the Escala's mineral values could significantly exceed original projections.

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

The original Escala Mine was established during the Spanish colonial period and has been mined for lead, zinc, gold and silver. In 2007, Franklin Mining, Bolivia S.A. negotiated an agreement with COMIBOL, National Mining Company of Bolivia, to resume mining operations within the area of the original concession.

About Franklin Mining, Inc: Franklin Mining, Inc. holds 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.

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

  • For further information, please visit our website:
    www.FranklinMining.com
    or
    Contact our Investor Relations firm:
    A.S. Austin & Company
    1-702-386-5379