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.

For additional information on Franklin Mining, Inc, please visit our web-site, www.franklinmining.com. To receive future Franklin Mining news by e-mail, please send contact information to info@franklinmining.com.

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.

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