SOURCE: Franklin Mining, Inc.

January 09, 2007 08:43 ET

Franklin Clarifies Pulacayo Project's Status

LAS VEGAS, NV -- (MARKET WIRE) -- January 9, 2007 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) CEO Jaime Melgarejo clarifies status of the Pulacayo tailings project.

Several missed deadlines created a two-month delay in start-up for the Pulacayo tailings project. The missed deadlines -- due to a heavier than normal rainy season, September to December -- prevented the relocation of the pilot plant.

In December, Franklin management completed a lengthy due diligence review of the project and received an in-depth Metallurgical Report. After accepting both reports, Franklin's Board approved a recommendation to formally reschedule Pulacayo's launch for January 2007.

As previously planned, a pilot processing plant will be relocated to the tailings site. The site is fully prepared with all required assets in place (space, water, electricity, communications and labor). The pilot plant provides the 400 ton per day processing capacity necessary to keep the project on its 42-month schedule.

Details on Franklin's Bolivian projects can be found at including the use of revenue generated by the Pulacayo pilot plant to immediately begin funding the design and completion of a full-scale processing plant.

About Franklin Mining, Inc.

Franklin Mining, Inc. has interests in the United States, Argentina and Bolivia which include a wholly owned subsidiary, Franklin Mining, Bolivia, as well as 51% interest in Franklin Oil & Gas, Bolivia and 51% interest in Franklin Oil & Gas, Argentina.


"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.

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