SOURCE: Franklin Mining, Inc.

December 16, 2008 08:52 ET

Escala Mine Progress Report

CEO William Petty Returns From South America; Prepares to Deliver Progress Report to Franklin Directors, US Executives, Consultants and Shareholders

LAS VEGAS, NV--(Marketwire - December 16, 2008) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) CEO William Petty has returned from a two-week visit to Franklin offices in Bolivia and Argentina. Later this week, Mr. Petty will report to Directors, Executives and Consultants on recent progress at the company's Escala Mine joint-venture prior to releasing his year-end Memo to Shareholders.

Since releasing his November 6, 2008 Progress Report, mine development has resulted in the completion of an additional 225 meters of crosscut and haulage tunnels. An estimated 1,000 tons of new mined material are currently waiting delivery for processing. Earlier samples taken from veins intersected by these tunnels projected mineralization of 3.0% Zinc, 2.5% Lead and 300 grams Silver.

About Franklin Mining, Inc: Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Mining, Bolivia is a wholly owned subsidiary. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A. Additional information is available at www.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.

For further information, please visit our website (www.FranklinMining.com) or contact our Investor Relations firm, A. S. Austin & Company, 702-386-5379.

Contact Information

  • Contact:
    Investor Relations
    A. S. Austin & Company
    702-386-5379