SOURCE: Franklin Mining, Inc.

February 28, 2008 12:44 ET

Escala's Expanded Operations Set for March 2008

LAS VEGAS, NV--(Marketwire - February 28, 2008) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) CEO, William Petty, has confirmed that his previously announced commitment to expand mining operations at the Escala will be underway no later than mid-March 2008.

"On the strength of the Austpac Gold N.L. analysis from 1994 and Franklin's engineering staff having now confirmed that same report's exploration studies, I am today committing Franklin Mining, Inc. to rapidly expanding all production schedules at our Escala I mining concession," Mr. Petty said. "We have equipment and technology available to us today that was not available to Austpac in 1994. Those new physical resources, together with very promising signs of significantly greater mineral findings, are rapidly turning Escala into a major operation."

With Franklin's silver recovery operation just now completing its second month of operations, that portion of Franklin's Escala commitment will be expanded to include an additional two tunnels in mid-March. Mining operations will expand to all seven tunnels with the arrival of the necessary generators in mid-April.

Total production from the currently available seven tunnels is estimated to be 745 tons. February's production contained the projected silver, lead, zinc complexes with early traces of gold in its expected small quantity and a continuation of copper findings in greater than expected quantities.

Franklin's engineers made a preliminary exploration of areas of the Escala known to contain significant quantities of gold. Their assessment is that all engineering findings in Austpac's 1994 report are correct. Based on Austpac's assay results and February's exploration, Franklin's recovery operations will be expanded to include gold immediately following a fully equipped silver operation.

Additional information on Franklin Mining, Inc's plans for further expanding mining at the Escala is available at www.FranklinMining.com, specifically in Mr. Petty's Letter from the President which will be posted February 28, 2008.

About The Escala Mine: Comprising three separate mining applications, COMIBOL's Escala Mine concession totals 2,000 hectares located in the Sud Lipez Province, near Bolivia's border with Argentina. Franklin Mining, Bolivia has been awarded a contract to mine 500 hectares within the original concession. Escala II and Escala III mining applications are currently assigned to another company.

The original Escala Mine was established during the Spanish colonial period and has been mined for lead, zinc, gold and silver. In 2007, Franklin Mining, Bolivia negotiated an agreement with COMIBOL, National Mining Company of Bolivia, to resume mining operations within the area of the original concession.

About Franklin Mining, Inc: Franklin Mining, Inc. holds 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, Argentina S.A.

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.

Contact Information

  • For further information, contact:

    Investor Relations
    A.S. Austin & Company
    1-702-386-5379

    www.FranklinMining.com