SOURCE: Planet Resource Recovery, Inc.

April 08, 2010 14:59 ET

Planet Resource Recovery and Franklin Mining Enter Into Definitive Joint-Venture Agreement to Develop and Operate Mine in Bolivia

HOUSTON, TX--(Marketwire - April 8, 2010) -  Planet Resource Recovery, Inc. (PLANET) (PINKSHEETS: PRRY), developer, manufacturer and marketer of PetroLuxus™ and other "Green" technologies for the remediation and recovery of the planet's resources, announces today that the company and Franklin Mining, Inc. have entered into a definite Joint Venture agreement to develop and operate the San Antonia de Turiri Antimony mine in Bolivia. The new agreement amends, replaces and supersedes the Joint Venture Agreement entered into on January 27, 2010.

Under the new Joint Venture agreement, PLANET's wholly owned subsidiary, Raptor Ventures, LLC will be the sole owner of the Joint Venture. Raptor Ventures' management will administer all operations at its sole and absolute reasonable discretion. Franklin Mining has assigned all its rights and interests in the mine to Raptor Ventures. Profits from the Joint Venture will be distributed 50% to Franklin Mining and 50% to PLANET after all operational expenses have been satisfied prior to distribution. 

The San Antonio de Turiri Antimony mine is situated on part of Bolivia's primary antimony belt. It consists of three parallel antimony vein structures approximately 1.5 kilometers in length and 3 meters in width. The main ore body ranges from 60% to 67% of pure antimony. The surrounding shale host rock, secondary ore body, consists of 5% - 10% antimony. To date, according to geological studies and laboratory analysis, less than 5% of Turiri's reserves have been mined.

Antimony is a chemical element that has a broad range of applications in manufacturing of industrial and consumer products. It is used in numerous industries such as semiconductors, flame retardants, storage batteries, electronics, pharmaceuticals, paints, ceramics alloys, rubber and small arms ammunition. Bolivia is one of the five top producing countries in the world. China dominates production of antimony and Bolivia produces approximately 3.5% of the annual world demand. Commodity pricing for antimony has steadily risen from a little over US$ 1,000.00 per ton to present day (January 2010) pricing of US $6,400.00 per ton.

Mining operations will be divided into two phases: primary ore mining and secondary enhanced mining recovery. Primary ore recovery will be the immediate mining of the high grade ore with estimated initial production of 50 tonnes per month and incremental increases of 50 additional tonnes per month.

Secondary enhanced mining recovery will commence upon the deployment and implementation of Planet's enhanced mining technology. While Planet's technology is being deployed, secondary recovery ore will accumulate for recovery. The current ore ready to be processed is estimated at 6,000 tonnes of antimony.

About Planet Resource Recovery, Inc.
Houston, Texas-based Planet Resource Recovery, Inc. is the developer, manufacturer, and marketer of unique, environmentally friendly proprietary chemical compounds and processes that will usher in a new paradigm shift in industry. The company is primarily focused on three distinct sectors: 1) Oil & Gas Industry with PetroLuxus™, 2) Remediation of mining toxic byproducts and 3) mining of base and precious metals. The company has developed multi-dimensional compounds and their related processes, technologies and methodologies to provide these sectors enhanced benefits and revenue opportunities. For more information visit: www.planetresource.com or www.petroluxus.com.

About Franklin Mining, Inc: Franklin Mining, Inc. has mining interests in the United States and Bolivia. Additional information is available at www.FranklinMining.com

Safe Harbor Statement
Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital. Planet takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Planet.

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