SOURCE: Franklin Mining, Inc.

October 09, 2008 13:09 ET

Franklin CEO Discusses Expanded Scope of Escala

Increasing Demands for Gold, Silver and Zinc Brings New Opportunities for Franklin's Joint-Venture in Bolivia

LAS VEGAS, NV--(Marketwire - October 9, 2008) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) -- Speaking by telephone from his San Antonio, Texas office earlier today, Chairman and CEO William Petty discussed his plan for significantly increasing the scope and range of operations planned for Escala.

Talking with potential financiers about expanding the capital budget of Franklin's Mining Division, "We're just now entering the second year of our joint-venture agreement at Bolivia's Mina Escala. And the growing worldwide demand for gold, silver and zinc is presenting us with the opportunity to escalate our time table for expanding those operations." Mr. Petty continued, "Working with our joint-venture partners, COMIBOL and Cooperativa Minera INTI, we're ready to begin full-scale operations in the first seven tunnels at the Escala. Another ten tunnels are available and all contain silver, zinc and lead."

"Fortunately for Franklin, our joint-venture partners and shareholders, recent laboratory analysis indicates that silver, zinc and lead are recoverable in quantities greater than what was indicated in reports provided by COMIBOL during last year's negotiations. Combine that with increased recovery technologies available today and the potential value of the Escala just continues growing."

In addition to laboratory analysis confirmations of silver, zinc and lead in the initial tunneling operations at Escala, gold is known to exist at two other sites within Franklin's 500 hectare concession and has been previously estimated at 20,000 to 30,000 ounces.

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 Oil & Gas, Inc. and Franklin Mining, Bolivia are wholly owned subsidiaries. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International 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.

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    A. S. Austin & Company
    702-386-5379