SOURCE: Franklin Mining, Inc.

December 17, 2008 11:39 ET

Franklin Clarifies Status of Franklin Oil and Gas International, SA

LAS VEGAS, NV--(Marketwire - December 17, 2008) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) CEO William Petty has issued the following statement responding to concern raised following recent news about a similarly named company.

"Franklin Oil and Gas International, SA was formed to satisfy legal requirements for Franklin Mining, Inc. to conduct business in Argentina and is the corporate entity currently negotiating to construct and operate a gas-to-liquid processing plant and other energy projects in Argentina. Franklin Mining, Inc. holds 51% ownership of Franklin Oil and Gas International, SA.

"A recent news report in Argentina concerning the pending dissolution of a similarly named company has generated concern for the status of our gas project. The company most frequently named in questions we've been receiving is Franklin Oil and Gas, Argentina SA. On the advice of legal counsel, this company was formally dissolved when Franklin Oil and Gas International, SA was formed and organized in full accordance with Argentina's requirements of foreign companies.

"Neither Franklin Mining, Inc. nor Franklin Oil and Gas International, SA are involved in the reported dissolution procedures."

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 is a branch company of Franklin Mining, Inc.

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