SOURCE: Franklin Mining, Inc.

May 22, 2006 11:02 ET

COMIBOL Approves Franklin's First Cerro Rico de Potosi Processing Plant

LAS VEGAS, NV -- (MARKET WIRE) -- May 22, 2006 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) has received a letter from COMIBOL's Technology Department authorizing construction of an initial 1,000 ton processing plant to be located at the Cerro Rico.

"As I announced on April 5, COMIBOL executives have assured Franklin they will authorize our Joint Venture to construct sufficient processing capacity for a fully revitalized mining operation at Cerro Rico de Potosi." Franklin Mining CEO Jaime Melgarejo also said, "Last week's release of the San Miguel Vein's analysis report prompted COMIBOL's earlier than expected approval of our first processing plant. We've always assumed there would be a need for more than one plant. I'm confident the remaining three analysis reports will confirm the need for additional processing capacity."

When fully operational, the Franklin Mining, Bolivia and COMIBOL Joint Venture will be dedicated to improving mining productivity at the Cerro Rico and encouraging economic growth in the surrounding communities. COMIBOL is Bolivia's national mining company. Franklin Mining, Bolivia (a Bolivian corporation) is a subsidiary of Franklin Mining, Inc.

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