Franconia Minerals Corporation
TSX VENTURE : FRA

Franconia Minerals Corporation

July 12, 2007 09:30 ET

Franconia Minerals Corporation: Additional Copper-Nickel-PGM Mineralization Intercepted at Birch Lake, Minnesota

SPOKANE, WASHINGTON--(Marketwire - July 12, 2007) - Franconia Minerals Corporation (TSX VENTURE:FRA) announces a fifth progress report on the on-going 2006-2007 core-drilling program at the Birch Lake copper-nickel-PGM (platinum group metals) inferred resource located in the Duluth Complex of Minnesota. This latest drilling continues to intercept mineralization considerably thicker than the average 75-foot thickness of the deposit, as defined last October in the preliminary economic assessment prepared by Scott Wilson Roscoe Postle Associates (Scott Wilson RPA) to NI 43-101 standards. The current drill program has consistently revealed mineralization that is generally similar to or higher than the average 0.59% copper, 0.19% nickel and 0.65g/t palladium, 0.32g/t platinum, and 0.14g/t gold values already found in this 100.4 million tonne inferred resource. Approximately 30% of the planned 18-hole 2007 program at Birch Lake has been completed.

Brian Gavin, Franconia's president comments, "Once again we are very pleased with these interim results from the in-fill drilling program. The results continue to indicate thicker zones of mineralization with higher grades than the average for the deposit as indicated in the most recent resource estimate (October 2006). The goals of this program are to convert the current inferred resource to an indicated resource and provide samples for bench-scale and pilot plant-scale metallurgical testing."



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July 2007 Drill Results, Birch Lake, Minnesota
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Down
Hole
Inter- Palla-
From To val(i) Copper Nickel Platinum dium Gold
Drill Hole (ft) (ft) (ft) (%) (%) (g/t) (g/t) (g/t)
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BL07-1W3 2401.5 2426.3 24.8 0.65 0.27 0.41 0.89 0.20
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2452.4 2505.8 53.4 0.56 0.17 0.36 0.80 0.17
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BL07-1W4 2443.5 2476.5 33.0 0.63 0.23 0.44 0.88 0.18
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BL07-2 pilot 2486.5 2760.0 273.5 0.48 0.14 0.26 0.56 0.11
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incl. 2486.5 2592.4 105.9 0.71 0.19 0.48 1.00 0.20
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incl. 2736.0 2760.0 23.4 0.82 0.33 0.12 0.35 0.04
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BL07-2W1 2486.5 2624.4 127.9 0.66 0.19 0.37 0.82 0.19
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incl. 2486.5 2423.5 37.0 0.84 0.30 0.90 1.47 0.36
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BL07-2W2 2490.3 2625.7 135.4 0.62 0.17 0.38 0.88 0.18
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incl. 2496.9 2519.2 22.3 0.82 0.27 0.75 1.78 0.26
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BL07-2W3 2490.3 2625.3 135.0 0.70 0.18 0.38 0.88 0.22
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incl. 2490.3 2531.7 41.4 1.05 0.28 0.72 1.65 0.30
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Average for
the
deposit(ii) 75.0 0.59 0.19 0.32 0.65 0.14
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(i) True widths are approximately 90% of down hole-intervals.
(ii) As previously defined in the preliminary economic assessment prepared
by Scott Wilson Roscoe Postle Associates (Scott Wilson RPA) to NI 43-101
standards, October 2006.
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The assay results from drill hole BL07-1 and -2 (angle holes drilled from the same site to the north and west respectively), and their associated wedged offsets, further confirm the thickness and grade of mineralization in the central portion of the deposit (see map).

Core samples were prepared at the ALS Chemex Ltd. laboratories in Thunder Bay and then shipped to its analytical facilities in Vancouver. Samples were analyzed for gold, platinum and palladium using a standard fire assay with an ICP finish, as well as for 34 base metals and trace elements using a four-acid (near-total) digestion and a combination of ICPMS and ICPAES. ICP over-limits were reanalyzed using sodium peroxide fusion and acid dissolution followed by ICPAES.

To view the accompanying map, please click the link below:

http://www.ccnmatthews.com/docs/fra0712.pdf

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