SOURCE: Franklin Mining, Inc.

September 13, 2007 09:44 ET

Franklin Board Names William Petty President & CEO; Jaime Melgarejo, Jr. Named COO

LAS VEGAS, NV--(Marketwire - September 13, 2007) - The Board of Directors of Franklin Mining, Inc. (PINKSHEETS: FMNJ) have today named William A. Petty to the position of President and Chief Executive Officer of the company and each of its three subsidiary companies. Mr. Petty has served Franklin Mining as its primary international business development consultant since 2003.

Most recently, Mr. Petty advised Franklin in the sale of its oil and gas holdings in Bolivia to East Delta Resources Corporation, Montreal, Quebec; this sale, announced September 11, 2007, is expected to be complete by October 15, 2007.

Mr. Jaime Melgarejo has assumed the position of Chief Operations Officer of the company and each of its three subsidiary companies; Mr. Melgarejo will continue to serve as a Director.

In announcing their unanimous decision, Franklin's Board said, "With his international business development experience and thorough understanding of Franklin Mining, Mr. Petty is uniquely qualified to lead our Company as we enter a new and exciting phase of growth while permitting Mr. Melgarejo to devote himself full-time to the day-to-day operations of Franklin's mining properties."

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 S.A. 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 company information is available at

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.

Contact Information

  • For further information, please visit our website
    or Contact:
    Investor Relations firm
    A. S. Austin & Company