SOURCE: Franklin Mining, Inc.

July 27, 2006 13:00 ET

Bolivia's Minister of Mines and Metallurgy Announces Guarantee of Operations & Support for FMNJ & COMIBOL Mining Efforts

LAS VEGAS, NV -- (MARKET WIRE) -- July 27, 2006 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) CEO Jaime Melgarejo announced today that Bolivia's Minister of Mines and Metallurgy, Walter Villarroel Morochi, released a written statement of support and commitment to organize and "guarantee a normal functioning mining operation" for COMIBOL and FMNJ. Bolivia's Minister was also quoted from a press conference, promoting mining development with the assurance that "Bolivia remains competitive on an international level."

In addition to the letter of commitment addressed to Franklin Mining, the press conference was held on May 3, 2006, with the Prospectors and Developers Association of Canada Convention in Toronto. Bolivian Minister of Mines and Metallurgy, Mr. Walter Villarroel Morochi, addressed the need to "create a competitive and secure environment for mining investment that will foster job creation, infrastructure modernization and industry partnership."

Morochi was quoted as saying, "We believe that many of these existing mining areas and areas with new potential, when properly evaluated with modern exploration technology and mining techniques, will highlight the potential for the discovery of important mineral deposits -- deposits which can surely have the opportunity to be transformed into business enterprises of world-wide importance."

"One of the key objectives of my office is to send a positive message to participants at the annual convention of the PDAC, to attract investor interest in developing and expanding the small existing mining operations, as we are confident that there are very high probabilities of finding many more important mineral deposits. Currently, we have an extensive list of investment requests from mining cooperatives and active mining companies that range from one-half million dollars to 2 million dollars. These are important opportunities that are available to be taken advantage of."

"Furthermore, we will take measures that will encourage investment in ventures both large and small. One example of this will be the declaration of 'integrated mining areas' that will respect pre-existing mineral rights in areas where many small mining concessions exist by unifying development efforts. This will allow the Bolivian state to promote the search of strategic partners for the development of these areas. "

"This is just one example of several measures that will be taken to promote mining development and ensure Bolivia remains competitive on an international level. We are pleased and very willing to provide any information that the investors interested in our country will require. "

"I am pleased to have this opportunity to send the message from the President, that we are working hard to establish the legal security that investment in the mining industry requires on a long term basis."

To read more details on the support of the Bolivian government and the Minister of Mines and Metallurgy, please visit

Franklin Mining, Bolivia S.A. (a Bolivian corporation) is a subsidiary company of Franklin Mining, Inc. COMIBOL is Bolivia's state-owned mining company.

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