SOURCE: Franklin Mining, Inc.

December 18, 2007 08:30 ET

Franklin Confirms Escala in First Phase of Production

LAS VEGAS, NV--(Marketwire - December 18, 2007) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) CEO, William Petty, has confirmed that the Escala Mine has entered the first phase of production. "I am pleased to be able to announce that we are officially in Phase I production status with Escala. I am also pleased to be able to confirm that the initial analysis of delivered product is indicating mineral content greater than what we anticipated. Additional sampling and testing is needed to confirm these early indications, but I am encouraged that our on-site managers and engineers are finding results greater than what was expected when they arrived at Escala last month."

"Throughout Phase I, we will deliver our product via truck to a processing plant approximately 70 Km away," Mr. Petty continued. "As previously announced, I've received several recommendations for erecting an on-site processing plant. Several of these recommendations required serious, lengthy study and that work is nearly finished; I hope to announce my decision concerning on-site processing in January."

About The Escala Mine: Comprising three separate mining applications, COMIBOL's Escala Mine concession totals 2,000 hectares located in the Sud Lipez Province, near Bolivia's border with Argentina. Franklin Mining, Bolivia S.A. has been awarded a contract to mine 500 hectares within the original concession. Escala II and Escala III are the other two mining applications currently assigned to another company.

The original Escala Mine was established during the Spanish colonial period and has been mined for lead, zinc, gold and silver. In 2007, Franklin Mining, Bolivia S.A. negotiated an agreement with COMIBOL, National Mining Company of Bolivia, to resume mining operations within the area of the original concession.

About Franklin Mining, Inc.: Franklin Mining, Inc. holds mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Mining, Bolivia S.A. is a wholly owned subsidiary. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas, Argentina S.A.

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, 1-702-386-5379.

Contact Information

  • Contact:
    Investor Relations
    A. S. Austin & Company
    1-702-386-5379