SOURCE: Franklin Mining, Inc.

May 23, 2007 09:15 ET

Franklin Continues Developing Bolivian Projects

LAS VEGAS, NV -- (MARKET WIRE) -- May 23, 2007 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) subsidiary Franklin Mining, Bolivia S.A. continues to develop multiple projects in Bolivia and is pleased to be able to issue this update on the status of current projects.

Delta Consult Grant Thornton International recently completed a special audit of Franklin Mining, Bolivia's incoming and outgoing cash between June 2004 and June 2006. This special audit was requested to insure that all internal policies and procedures had been followed.

Franklin Mining, Inc. management used the Delta Consult Grant Thornton International special audit report as a guide in modifying both staff and internal operations to insure the subsidiary company is equipped and prepared to meet the challenges of the coming years.

Franklin Mining, Bolivia S.A. continues working with CENTROMIN engineers and technical staff as installation, procurement and production timelines at the Pulacayo processing plant are reviewed and implemented. Obtaining final approval of the plant's design was delayed for almost nine months due to management difficulties within Franklin Mining, Bolivia S.A. that are now resolved.

The processing plant, to be completed under the direction of Ing. Walter Lesteros, is a design widely used throughout Peru's mining industry. Management anticipates the plant will initially process a minimum 200 tons per day.

Franklin Mining, Inc. CEO Jaime Melgarejo, Jr. and members of the Franklin Mining, Bolivia S.A. staff will travel to Cerro Rico de Potosi on Friday, May 25, 2007, to meet with COMIBOL personnel as they perform a final evaluation of recently submitted production studies for Franklin's plan to begin mining operation at this historic site.

Dr. David Roy Rivas Murillo has resigned his appointment as Senior Financial Analyst.

About Franklin Mining, Inc: Franklin Mining, Inc. has mining and exploration interests in the United States, Argentina and Bolivia; 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. Additional company 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. Austin & Company, 1-702-386-5379.

Contact Information