SOURCE: Franklin Mining, Inc.

July 01, 2008 08:54 ET

Franklin Appointed to Represent Capital Oil & Gas, Ltd. in South America

Prepared to Deliver Diesel in Argentina and Paraguay

LAS VEGAS, NV--(Marketwire - July 1, 2008) - Franklin Mining, Inc.'s (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman and President, William A. Petty, announces that Franklin was named a representative of Capital Oil & Gas, Ltd. (London) in April 2008 and authorized to negotiate the purchase of crude and refined petroleum products in the countries of Bolivia, Argentina and Colombia. "With Capital Oil & Gas' success in Europe, Africa and Asia, I am excited to be their representative as they prepare to enter South American markets," he said when releasing his June 30, 2008 Memorandum to be posted on the company web-site. "Franklin Oil & Gas, Argentina SA entered negotiations almost immediately following Capital Oil & Gas' April 8, 2008 appointment."

Mr. Petty also stated that, in addition to negotiating Capital Oil & Gas purchases, Franklin Oil & Gas, Argentina SA has entered negotiations with Energia Argentina Sociedad Anonima (ENARSA) for the delivery of up to 200,000 MT per month of diesel fuel and with Paraguayan Petroleum (Petróleos Paraguayos, PETROPAR) for the delivery of up to 250,000 MT per month. ENARSA is Argentina's national oil company; PETROPAR is Paraguay's national oil company.

About Franklin Mining, Inc: Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Mining, Bolivia is a wholly owned subsidiary. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas, Argentina S.A. Additional information is available at www.FranklinMining.com.

DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining, Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.

For further information, please visit our website (www.FranklinMining.com) or contact our Investor Relations firm, A. S. Austin & Company, 702-386-5379.

Contact Information

  • Contact:
    Investor Relations
    A. S. Austin & Company
    702-386-5379