FRANC-OR RESOURCES CORPORATION
TSX : FOR

FRANC-OR RESOURCES CORPORATION

August 30, 2007 09:58 ET

Franc-Or Discovers New Base and Precious Metal Veins and Mantos Associated with Multiple Centers of Mineralization at the Mario, Peru Property

MONTREAL, CANADA--(Marketwire - Aug. 30, 2007) - Franc-Or Resources Corporation (TSX:FOR) ("Franc-Or") is pleased to announce that it has discovered multiple veins, replacement mantos (replacement of calcareous beds), and disseminated mineralization related to multiple volcano-plutonic centers now recognized on its 100% owned, Mario Zn-Pb-Ag-Au property in central Peru.

As mapped to date, the widths of the sampled veins vary in a pinch and swell pattern from 0.5 to 3.0 meters. However, the recently discovered, and yet to be sampled, Victoria vein, shows widths of 15 to 25 meters, with adjacent mantos having over 50 meter-wide surface expressions. True strike lengths are difficult to determine at this stage of exploration, owing to the presence of overburden, but the Victoria vein can be followed on the surface for over 500 meters.

The veins and mantos occur in two distinct clusters of predominantly northeast-trending structures, both northwest and northeast of Cerro Punapuna where most of the previous work has been concentrated (see attached map). Segments of some of these veins exhibit small, old workings, but the majority of the mineralization found by our current efforts are truly new and raw discoveries that have never been tested before.

A map is available at the following address: http://www.ccnmatthews.com/docs/Mario_project.pdf

Table 1 represents the weighted-average results of 202 surface rock-chip channel samples cut across these newly uncovered veins. These samples are from highly (80% to 100%) oxidized gossanous veins. Normally, the level of oxidation exhibited by these veins results in strong leaching of most metals. The levels of metal values shown in Table 1, particularly those of lead and zinc, are significantly higher than might be expected from the extent of oxidation exhibited. Individual sample analyses range from trace values to up to 3.9% zinc, 3.3% lead, 1.1% copper, 425 g/t silver, and 1.75 g/t gold. It is anticipated that significantly higher base metal and silver values will be encountered in massive sulfide mineralization that is interpreted to lie beneath the oxidized gossan veins. Local exposures of mantos in old workings suggest the depth of oxidation to be as shallow as 10 meters, and prior drilling beneath Cerro Punapuna suggests the average maximum depth of oxidation to be approximately 40 meters.



Table 1 - Mario Project Surface Rock Geochemistry, West Area

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Vein Name Avg Width m Au g/t Ag g/t Cu % Pb % Zn %
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Juana 3.0 0.11 104.90 0.03 0.59 0.59
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Iris 0.7 0.01 38.22 0.02 0.12 0.26
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Julia 3.0 0.00 20.91 0.03 0.02 0.05
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Judith 1.7 0.00 91.20 Trace 0.06 0.08
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Table 2 - Mario Project Surface Rock Geochemistry, East Area

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Vein Name Avg Width m Au g/t Ag g/t Cu % Pb % Zn %
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Carol 1.0 0.13 17.49 0.03 0.06 0.05
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Karla 0.5 0.07 32.74 0.40 0.47 0.44
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Kelly West 0.6 0.27 154.03 0.05 0.73 1.19
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Kelly 0.8 0.05 50.82 0.02 0.43 0.62
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Ramales No1 0.5 0.01 99.35 0.01 0.10 1.23
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Ramales No2 0.7 0.22 73.08 Trace 0.25 0.34
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Additional new manto targets with potentially significant widths and volumes have also been discovered to selectively replace dolomitic limestone and sandstone beds that display coincident Chargeability anomalies to the east and southeast of the Cerro Carhuante complex. Results of sampling from several of these areas are expected within the next few weeks and drilling is being planned to test these new discoveries.

In addition to the new veins and mantos, recent mapping has also uncovered two new areas of volcanic domes within the Cerro Carhuante Complex (see attached map). The most promising of these is a field of dacite domes that is present on the southwest flank of what is shown as Domo Norte. In this area, one prominent dacite dome capping a hill exhibits intense silica alteration. On the flanks of this silicified dome, local red jasperoid and silicified breccia are present with locally up to 20% disseminated arsenopyrite. The Victoria vein projects to the south edge of the Domo Norte dacite and the same controlling structure projects further to the northeast into the old Mario Mine, a small base metal mine being developed on a preexisting small mining concession contained within the boundaries of Franc-Or's Mario mining concessions. This northeast-trending structural zone consists of several mineralized veins, and the dome complex, along a strike length in excess of 5 kilometers across the Mario property. Ongoing sampling and follow-up drilling is being planned to test this significant strike extent.

The predominantly northeast-trending vein sets depicted in the accompanying map now show an area of some 1.85 kilometers by 3 kilometers encompassing several cells of mineralization at Mario. Regionally, this mineralization appears to be contained within a broad northeast-trending right-lateral dilational jog crossing the prolific northwest-trending Pucara Metallogenic Belt of the central Andes Mountains of Peru. The Pucara Belt is one of the best-mineralized metallogenic belts in the world, and many of the largest mining districts that occur within this belt are at intersections of northwest and northeast-trending structures as is now recognized at Mario. Jean Depatie, Franc-Or Chairman states that, "Our recent mapping and sampling away from the initial target area at Cerro Punapuna has revealed that the Mario property hosts much greater mineral potential than first realized." It is important to note that still more than half of the 2,700 hectares of the Mario mining concessions remain to be mapped and sampled in detail. Owing to the expanded nature of the Mario mineralization, Franc-Or has applied for an additional 1,300 hectares of mining concessions, which when granted, would bring the total area under control to 4,000 hectares.

Franc-Or management and staff are extremely excited about the new areas of mineralization that have been found at Mario. Current plans are to complete the present stage of surface mapping and sampling and to move into the previously announced program of underground bulk sampling at Cerro Punapuna and the simultaneous drilling of both underground and surface targets at Punapuna. As noted above, drilling the newly discovered targets throughout the now expanded areas of mineralization will be incorporated into this next phase of exploration.

Franc-Or is also extremely pleased to have Mr. David Z. Royle join the Board of Directors as of the most recent Annual Meeting of Shareholders of the Corporation held on June 28th. Mr. Royle has had extensive experience in mineral exploration both in Peru and throughout the world during his distinguished career. His presence on the Franc-Or Board is of particular significance at this juncture in the exploration and development of the Mario property.

Robert J. Casaceli is the Qualified Person responsible for all technical data reported in this news release.

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.

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