SOURCE: Franklin Mining, Inc.

September 15, 2008 11:54 ET

Franklin CEO & President in Bolivia; Escala Completes First Year of Redevelopment; Capital Budget for Second Year Projected to Be $1.6 Million

LAS VEGAS, NV--(Marketwire - September 15, 2008) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman and CEO William Petty returned to Bolivia three weeks ago and has just completed an assessment of the Escala Mine's first year as a redevelopment project prior to presenting his capital expenditure budget for Board approval. Speaking by telephone from Franklin's Santa Cruz, Bolivia offices, Mr. Petty said his expectation of the Escala's future value continues to grow with each new report. The latest report prepared by staff geologists and engineers identifies 25 commercially viable veins between 1.5 and 2.0 meters in width and appearing fully mineralized with a horizontal extension estimated at 2 Km confirmed by surface GPS measurement.

Mr. Paul Baker rejoined Franklin's team of mining consultants on-site at the Escala and participated in preparing the above report. Later this week, Mr. Baker will complete his review of specifications for the Escala's processing plant. Immediately capable of processing 100 tons per day, the proposed plant design is easily expandable to a 200 ton per day capacity.

Mr. Petty's projected $1.6 million capital budget for the Escala's second year of operations will be discussed in detail in a newsletter scheduled to be posted at www.FranklinMining.com on Wednesday, September 17, 2008.

Preliminary laboratory analysis findings of Escala mineralization were posted at www.FranklinMining.com in a May 14, 2008 Summary Report. Results contained in the Final Report from last Spring's sampling will be published and posted later this week.

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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