SOURCE: Franklin Mining, Inc.

October 30, 2007 09:09 ET

Franklin Issues Final Status Report Prior to the Launch of Phase I Production at the Escala Mine

LAS VEGAS, NV--(Marketwire - October 30, 2007) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) CEO and President, William Petty, will depart Texas for Bolivia on October 31, 2007 for meetings with Jaime Melgarejo, Jr, Franklin's COO. Mr. Melgarejo and other Franklin Supervisors and Managers will form the initial management team at the Escala Mine.

Franklin's team together with an initial 12 members of the local Coopertiva Minera "INTI" Ltda, a 20% partner in Franklin's contract with COMIBOL, are making final preparations of the Escala for the resumption of large scale operations. Total production in November is anticipated to reach 260 tons with significant increases in the daily rate being achieved by early-December.

During November's early-Phase I production, the Escala's Zinc and Lead will be inventoried and made available to the market as economically feasible. Other minerals, expected to initially be recoverable in smaller quantities, will be accumulated and held in inventory to be marketed at a later date.

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 within the original Escala concession. Escala II and Escala III are the other two 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 original 500 hectare 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.

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.

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    1-702-386-5379