Franconia Minerals Corporation
TSX VENTURE : FRA

Franconia Minerals Corporation

August 17, 2007 16:53 ET

Franconia Minerals Corporation Amends Stock Option Plan; Stock Options Granted

SPOKANE, WASHINGTON--(Marketwire - Aug. 17, 2007) - FRANCONIA MINERALS CORPORATION (TSX VENTURE:FRA) announced today that its board of directors has approved an amendment to the Franconia Minerals Corporation's ("Franconia" or the "Corporation") stock option plan, subject to the receipt of the necessary regulatory and shareholder approvals, to reduce the maximum number of common shares to be delivered upon exercise of all options granted under the plan from 20% to 10% of the Corporation's issued and outstanding common shares. Consequently the maximum number of options will be set at 5,762,977; the Corporation's current issued and outstanding shares total 57,629,774. The Corporation currently has approximately 3,865,500 options outstanding, which is 6.71% of current issued and outstanding shares. This amendment is in response to comments received from shareholders to a previous amendment to the stock option plan, which failed to pass at the Corporation's annual general and special meeting held on July 26, 2007.

Grant of Stock Options

In, addition today Franconia granted options to acquire 1,762,500 common shares of the Corporation to directors, officers, employees and consultants of the Corporation. The per-share exercise price is Cdn$1.95 cents. The options are exercisable for periods of five years. The grant of these options is subject to receipt of all necessary approvals, regulatory or otherwise.

Franconia Minerals Corporation trades on the TSX-V in Canada under the symbol FRA. (For additional information see www.franconiaminerals.com.) Franconia currently has 57,629,774 shares issued and outstanding.

Brian Gavin, President and CEO

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.

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

Contact Information