Franconia Minerals Corporation

Franconia Minerals Corporation

March 26, 2008 09:00 ET

Franconia Launches New Drill Program at Red Knoll Copper Project, Arizona

SPOKANE, WASHINGTON--(Marketwire - March 26, 2008) - Franconia Minerals Corporation ("Franconia") (TSX:FRA) is pleased to report the commencement of a second phase program of core drilling at the 8,000 acre Red Knoll property in Graham County, Arizona. Four holes totaling at least 10,000 feet are planned for the three-month program, and assay results are expected in the late spring. Franconia is following up on the results of last year's drilling, geophysics and related field work (See Franconia's news release of May 8, 2007). The Company is targeting concealed porphyry-style copper mineralization in Laramide-age volcanic rocks buried beneath post-mineral volcanic cover. Red Knoll lies between Phelps Dodge's Morenci mine, the largest copper producer in the US, and the Safford porphyry copper district.

The first round of core drilling, completed in April 2007, revealed a geochemical signature and widespread hydrothermal alteration consistent with a copper porphyry system at reasonable depths.

The primary geophysical data being used to identify the latest drill targets was collected from a 4 line, 17-line-kilometer Titan 24 survey, which identified a resistivity contrast between post-mineral Tertiary volcanic cover and the underlying rocks. The results of the resistivity survey, in conjunction with prior drilling results, indicate that potential host rocks for a Laramide porphyry copper system are present beneath Tertiary volcanic cover.

The Red Knoll property is subject to a Property Acquisition Agreement with Teck Cominco American Incorporated (Teck Cominco) whereby Franconia can earn a 100% interest in the unpatented mining claims by incurring US$2,000,000 in exploration expenditures over four years and issuing shares to Teck Cominco. Upon Franconia completing expenditures on the property, Teck Cominco has a one-time option to elect to back-in to a 70% interest in the property by spending US$5,000,000 over four years (See Franconia's news release of June 27, 2005).

Franconia Minerals Corporation trades on the TSX under the symbol FRA. (For additional information see Franconia currently has 58,186,566 shares issued and outstanding.

FORWARD-LOOKING STATEMENT: Although Franconia Minerals Corporation believes many of its properties have promising potential, these properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economically extracted.

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