SOURCE: Franklin Mining, Inc.

October 14, 2008 11:46 ET

Franklin CEO Discusses GTL Investment in Tierra del Fuego, Argentina

Third-Year Revenue Projected to Reach $293 Million US

LAS VEGAS, NV--(Marketwire - October 14, 2008) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman and CEO William Petty will release his October 2008 Memo to Shareholders later today.

In today's Memo, Mr. Petty tells shareholders, "Argentina needs local diesel fuel production resources. Tierra del Fuego has an abundant supply of natural gas. Franklin understands GTL technology. And the three combine to make a massive challenge and a great opportunity."

Phase I of the GTL project in Argentina requires an 8 to 12-month construction period and generates $2.6 million US annually, at current market value.

Phase II of the project requires a minimum 28 months of construction and generates in excess of $93 million US annually, at current market value.

When fully operational, the planned production facility will convert an estimated 957,000 barrels per year of diesel grade distillate from natural gas. Another 669,000 barrels per year of blending grade gasoline together with small quantities of other products will also be produced.

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.

Contact Information

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