Franconia Minerals Corporation
TSX VENTURE : FRA

Franconia Minerals Corporation

April 13, 2007 15:44 ET

Franconia Minerals Closes Brokered Private Placement Financing

SPOKANE, WASHINGTON--(CCNMatthews - April 13, 2007) - FRANCONIA MINERALS CORPORATION (TSX VENTURE:FRA) (the "Corporation") has completed a brokered private placement financing of Cdn$11,736,403.20 through the issuance of 7,335,252 units at Cdn$1.60 per unit.

Each unit consisted of one common share and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at an exercise price of Cdn$1.92 at any time prior to the earlier of: a) the date which is the 15th trading day after receiving notice from the Corporation that the weighted average price of the Common Shares on the TSX Venture Exchange or the Toronto Stock Exchange has been equal to or greater than Cdn$2.40 for a period of 15 consecutive trading days commencing on April 13, 2009; and b) April 13, 2010. The units will be subject to a 4 month and one day hold period expiring August 14, 2007.

The net proceeds from the offering will be used for the Corporation's continued work on the pre-feasibility study on the Maturi-Birch Lake combined operation, other exploration programs and for general corporate purposes.

Northland Securities Inc, a full service broker dealer located in Minneapolis, Minnesota acted as agent in respect of the offering and will receive a commission in cash equal to 7% of the gross proceeds and non transferable brokers warrants equal to 10% of the units issued. The broker warrants will have an exercise price of Cdn$1.92 and expire 24 months from the date of issue. The broker warrant are subject to a 4 month and one day hold period expiring August 14, 2007.

Franconia Minerals Corporation trades on the TSX-V under the symbol FRA. (For additional information see www.franconiaminerals.com.) The directors of Franconia Minerals Corporation accept responsibility for this announcement. Following the financing Franconia will have 50,933,731 shares issued and outstanding.

Brian Gavin, President

FORWARD-LOOKING STATEMENT: Although Franconia Minerals Corporation believes many of its properties have promising potential, its 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.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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