March 06, 2007 09:00 ET

Franc-Or Receives Title to Mario, Peru Property

MONTREAL, QUEBEC--(CCNMatthews - March 6, 2007) - Franc-Or Resources Corporation (TSX:FOR) (Franc-Or) is pleased to announce that Teck Cominco Peru S.A. (Teck Cominco) has signed an agreement with Franc-Or and its 100% owned subsidiary, Franc-Or Resources Peru S.A.C.(FOR Peru), to transfer the mining license title to the Mario property in central Peru to FOR Peru. With this title transfer, Franc-Or will own the Mario property 100%, subject to certain royalties and a back-in right of Teck Cominco pursuant to the option agreement described below.

Franc-Or has been exploring the Mario base and precious metal property located in central Peru, some 50 kilometers southwest of Huancayo, since March 2006. It was at that time that Franc-Or acquired the rights to an option agreement on the property that was originally signed between Cominco Peru S.R.L. (as assigned to Teck Cominco) and Sulliden Exploration Inc. (Sulliden). Details of the agreements related to the Mario property were described in the Franc-Or Press Release of April 19, 2006.

Franc-Or reported the successful results of 3,842 meters of diamond drilling at Mario on August 21, 2006 which partially fulfilled its obligations under the option agreement and also extended known zones of high grade base metal vein and replacement mineralization that had previously been reported by Teck Cominco and Sulliden. This drilling also discovered disseminated mineralization in silicified breccia that returned 0.974 g/t Au over 72.7 meters in one hole, and 0.837 g/t Au over 28.5 meters in another hole. This discovery has opened new potential for the property, and supports the geologic interpretation of Mario as representing zoned metal distributions within the context of a deeply buried porphyry copper system. Ongoing surface sampling suggests that epithermal precious metal veins may be present beneath surface breccias.

In addition to ongoing surface sampling, current work at Mario includes geologic and topographic mapping, re-logging and re-sampling of select portions of previously drilled core, and the recent implementation of a geophysical survey utilizing high resolution IP/Resistivity measurements. Data from the IP/Resistivity survey will be used to plan both surface and, possibly, underground drilling collars and bulk metallurgical sampling locations to test extensions of known massive sulfide vein and replacement mineralization that surrounds the Punapuna ridge, encompassing an area of some 0.85 km X 0.6 km.

Franc-Or management is excited about having completed the option obligations and having now received 100% ownership of the mining licenses that cover the Mario property. Now that we control the property we are optimistic about our efforts to develop the property to its full potential.

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


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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