FRANC-OR RESOURCES CORPORATION
TSX : FOR

FRANC-OR RESOURCES CORPORATION

March 17, 2008 11:13 ET

Franc-Or Completes 3,500 Meter Drilling Campaign and Hits 42.75 Meters With 1.05 g/t Gold and 8.75 Meters With 658 G/T Silver at Mario, Peru Property

MONTREAL, CANADA--(Marketwire - March 17, 2008) - Franc-Or Resources Corporation (TSX:FOR) is pleased to announce that it has completed the planned 3,500 meter diamond drilling campaign at the Company's 100% owned Mario Property located in central Peru. A total of 17 diamond drill holes were drilled both within and around the Cerro Punapuna volcano-plutonic complex in this most recent phase of drilling. The locations of these new drill holes are shown on the attached geologic map, and the corresponding results of significant intervals are shown in Table 1, attached.

The drill results in Table 1 continue to demonstrate that the best mineralization at Mario is located in the NW sector of Cerro Punapuna. The highlight of this drill program is the discovery of a broad zone of disseminated gold beginning at a vertical depth of approximately 26 meters in DDH FO-08-34, which cut 127.9 meters averaging 0.685 g/t Au, including 42.75 meters of 1.047 g/t Au hosted by multilithic diatreme breccia. This drill hole is particularly meaningful when it is considered that it was drilled roughly perpendicular to the previously drilled DDH FO-06-05 with 72.2 meters of 0.974 g/t Au (see below and FOR Press Release August 21, 2006). Further work is necessary to evaluate any potential economic significance of this zone, but the widths encountered suggest that this material might define an open pit scenario, which would need to be evaluated with additional drilling. Moreover, these results present additional targets for deeper feeder epithermal veins that could be present beneath the broad cap of low grade disseminated gold mineralization.

Highlighted intercepts from current and previous drill holes in this gold enriched zone in the NW corner of Cerro Punapuna are shown below. True widths of mineralization cannot be determined at this time.



Punapuna Disseminated and Vein Gold Mineralization

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Current DDH From (m) To (m) Int (m) Au g/t Ag g/t Pb% Zn%
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FO-08-34 34.75 162.65 127.90 0.685 16.1 0.26 0.29
including 53.00 151.85 98.85 0.805 17.7 0.28 0.27
including 107.10 149.85 42.75 1.047 31.2 0.54 0.55

Previous DDH From (m) To (m) Int (m) Au g/t Ag g/t Pb% Zn%
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FO-06-05 59.20 131.40 72.20 0.974 43.8 0.55 0.66
FO-06-15 90.05 118.55 28.50 0.837 16.8 0.15 0.27
PU-03-28 (vein) 72.20 73.40 1.20 14.250 154.0 1.66 7.60
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Punapuna Gold-Bearing Massive Sulfide Mineralization - NW Contact Zone

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Current DDH From (m) To (m) Int (m) Au g/t Ag g/t Pb% Zn%
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FO-08-29 70.30 81.80 8.75 0.229 658.0 6.04 1.32
" 111.10 117.00 5.90 0.875 522.9 5.56 6.85
" 125.80 133.05 7.25 0.694 176.1 2.93 4.77

Previous DDH From (m) To (m) Int (m) Au g/t Ag g/t Pb% Zn%
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FO-06-03 111.00 129.75 18.75 0.554 264.6 2.57 12.61
FO-06-06 66.37 81.68 15.31 0.437 22.1 0.20 6.87
" 101.50 130.50 29.00 0.890 63.1 0.63 0.36
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These current and prior drill intercepts define an area of approximately 100 meters X 100 meters in horizontal dimensions, with a vertical thickness of approximately 100 meters. Mineralization consists of disseminated grains and blebs of sulfides and local zones of stockwork veinlets of sulfides and silica. The sulfide minerals consist primarily of fine-grained pyrite, with lesser amounts of galena, sphalerite, and possible fine sulfosalts. The total volume of sulfides in the disseminated zones varies from 5% to 20%. The main area of disseminated mineralization occurs at an intersection of N75-80E and N10-15W faults. This zone of disseminated mineralization coalesces westward along the N75E structure into massive sulfide veins and replacement bodies that are concentrated at an intersection with another parallel N13W structure at the contact of the Cerro Punapuna volcano-plutonic complex with the Pucara Limestone. The massive sulfides here are enriched in silver and gold, as well as in lead and zinc.

Drill hole FO-08-29 is located in this contact zone and was placed parallel to previously drilled FO-06-03, but 25 meters below it, to test the vertical continuity of massive sulfide mineralization. The deeper hole shows generally higher values in silver (up to 658 g/t), lead (up to 6.04%), and gold (up to 0.875 g/t), but in narrower intercepts. A surface trench cut above drill holes FO-06-02 and FO-06-03 (see FOR Press Release August 21, 2006) encountered pinch and swell expressions of massive sulfides at five meters depth following the N75E structure. Metallurgical studies are currently being carried-out on samples from both the massive sulfide and disseminated styles of mineralization to help determine metal recoveries. The continuity of both styles of mineralization at N75E and N13W structural intersections needs to be tested further and could provide tonnage potential for mineralization both down-dip and along strike. Mineralization in this zone is open to the north and east, and to a lesser extent, to the west. The potential for high-grade epithermal precious metal veins at depth in this zone is thought to be excellent. Assay results from the vein shown above in prior drill hole PU-03-28 (14.25 g/t Au over 1.2m) indicate the potential of this zone, and Franc-Or geologists believe that other epithermal quartz-sulfide veins of much higher grade could be present at depth.

It is important to note that the silver grades encountered in DDH FO-08-29 are significant and it is possible that additional massive sulfide vein and replacement mineralization with these grades could be present at and near the contact of the volcano-plutonic complex with the Pucara Limestone, particularly at areas of ENE and NNW structural intersections. A surface trench cut above high grade massive sulfides known to be present near the limestone contact at an intersection of these two trends produced a 1.0 meter x 0.25 meter channel sample with 1710 g/t Ag and 2.11 g/t Au. Additional targets also remain to be tested at depth in the central and southern parts of Cerro Punapuna, below sporadic and narrow, high grade veins of silver mineralization.

Drilling away from Cerro Punapuna in the southern part of the West Vein area failed to show any significant mineralization below the wide zones of gossan exposed at the surface along the Veta Victoria, Juana, and Iris veins. Additional targets exist in the West Vein, East Vein, and Cerro Carhuante areas, but more trenching must be carried-out in these areas before any additional drilling can be undertaken. Follow-up drilling in the NW Punapuna zone, subject to financing, should include several deep holes in the area of the noted structural intersection, as well as moderate-depth holes to test extensions of mineralization to the north, east, and west.

Dr. Michel Macarit, Consultant to the Corporation and Professional Geologist (Union Francaise de Geologues), is the Qualified Person responsible for all technical data reported in this news release. Preparation and analyses of all surface and drill core samples to date have been done at the ALS Chemex laboratory located in Lima (Callao), Peru. Franc-Or routinely submits standards and blanks in addition to Chemex's internal quality control procedures, and as well submits duplicate analyses to other labs for additional external quality control.

CAUTIONARY STATEMENT

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of Franc-Or, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Franc-Or's expectations are the risks detailed herein and from time to time in the filings made by Franc-Or with securities regulators.

A table of the drill assay results is available at the following address: http://media3.marketwire.com/docs/table_Franc_Or.pdf

A map of the Mario Project 2008 is available at the following address: http://media3.marketwire.com/docs/map_Franc_Or.pdf

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