SOURCE: Franklin Mining, Inc.

January 24, 2007 08:30 ET

Franklin & COMIBOL Set to Recover Gold, Silver & Zinc

Cerro Rico & Pulacayo Projects May Hold Increased Potential

LAS VEGAS, NV -- (MARKET WIRE) -- January 24, 2007 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) and its wholly owned subsidiary, Franklin Mining, Bolivia SA, are set to begin retrieving gold, silver and zinc under terms of a COMIBOL partnership agreement. Franklin Mining, Inc.'s partnership with COMIBOL was the first to be signed with an American company since 1952.

Metals Markets Continue Strong Performance: With Gold's seven week high and Tin's all time high, with Silver's strength despite forecasts for a decline in demand and with recent projections that China's Zinc consumption could rise as much as 56% by 2010 -- total revenues and profits from both the Cerro Rico and Pulacayo projects stand to increase significantly as world-wide demand and pricing continue these upward trends.

Cerro Rico de Potosi: Franklin's partnership agreement with COMIBOL to begin redevelopment of the historic Cerro Rico de Potosi Silver Mine promises to yield significant profits which will be shared equally by Franklin and COMIBOL once Franklin's initial investment has been repaid. Reports provided by COMIBOL on Franklin's assigned veins in the Cerro Rico have indicated yields totaling 36,274,137 Troy ounces of silver; 586,117,434 pounds of Zinc; and 159,518,908 pounds of Tin. When the partnership agreement was originally prepared, Franklin/COMIBOL projected the total value of these five veins to be approximately $2.2 Billion (USD).

Pulacayo Mining Fields: Franklin is also set to begin processing tailings found in the Pulacayo Mining Fields. Yields from these tailings deposits are estimated to total 7,973,507 Troy ounces of Silver and 128,605 Troy ounces of Gold. At the time of this agreement's preparation, recovery rates from this tailings field were conservatively estimated at 60%, yielding approximately $109 Million (USD). The pilot plant necessary to process tailings is now in La Paz, Bolivia and ready to be relocated to the Pulacayo work site (please see our Jan 9, 2007 Press Release on this project).

Additional information on Franklin projects can be found at www.franklinmining.com.

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.

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.

Contact Information

  • For Further Information check out our website www.franklinmining.com or
    contact:

    Investor Relations:
    Mr. Andrew Austin
    1-702-386-5379