Franconia Minerals Corporation
TSX VENTURE : FRA

Franconia Minerals Corporation

November 23, 2006 10:30 ET

Allan Marter Joins Board of Directors of Franconia Minerals Corporation; Stock Options Granted

SPOKANE, WASHINGTON--(CCNMatthews - Nov. 23, 2006) - FRANCONIA MINERALS CORPORATION (TSX VENTURE:FRA)(PLUS Market:FRA) is pleased to announce the election of Mr. Allan J. Marter as a director of the company. Mr. Marter, based in Littleton, Colorado, brings to the board more than 25 years experience in the financial sector of the mining industry.

Mr. Marter recently retired after seven years as Chief Financial Officer of Golden Star Resources Ltd. During his tenure, beginning in 1999, Golden Star transitioned from an exploration company to an emerging mid-tier gold producer. While at Golden Star he was responsible for numerous financings and acquisitions. He currently serves as president of EURO Ressources SA (TSX:EUR)(EURONEXT:EUR) and had previously served as an officer and director of a number of North American junior exploration and mining companies. Mr. Marter was president of the Northwest Mining Association in 1993.

Grant of Stock Options

Franconia granted options to acquire 1,530,500 common shares of the corporation to directors, officers and consultants of the corporation. The per-share exercise price is $1.45 cents. The options are exercisable for periods of five years. The exercise price of the options represents a premium to the closing price of the shares of the corporation as traded on the TSX Venture Exchange on November 22, 2006 and is at the same price as the most recently completed private placement.

Franconia Minerals Corporation trades on both the TSX-V in Canada and PLUS Market in the UK under the symbol FRA. (For additional information see www.franconiaminerals.com.) The directors of Franconia Minerals Corporation accept responsibility for this announcement. Franconia currently has 43,120,120 shares issued and outstanding.

FRANCONIA MINERALS CORPORATION

Brian Gavin, President

This document, which has been issued by Franconia Minerals Corporation (Franconia), has been approved solely for the purposes of Section 21 of the Financial Services and Markets Act 2000, by Lion Capital Corporation Limited (Lion), 4th Floor, 2 Cromwell Place, London SW7 2JE, who is authorised to carry on Investment Business by the Financial Services Authority. Lion, is acting as advisers for Franconia and to no-one else and will not be responsible to anyone other than Franconia for providing protections afforded to customers of Lion for providing advice in relation to any investment made pursuant to this announcement and makes no recommendation for the suitability of any investment, which is the subject of this announcement. FORWARD-LOOKING STATEMENT: Although Franconia Minerals Corporation believes many of its properties have promising potential, its properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economically extracted. Incorporated in Alberta Canada No. 207953670.

Contact Information