SOURCE: Franklin Mining, Inc.

July 08, 2008 10:12 ET

Franklin Expands US Energy Subsidiary and Establishes Franklin Mining Colombia LTDA

Franklin Oil & Gas, Inc. Set to Enter West Texas Oil Field

LAS VEGAS, NV--(Marketwire - July 8, 2008) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman and President, William A. Petty, announces that ongoing negotiations for US energy projects have resulted in a significant change in previously announced plans for the company's US energy division. Franklin Mining, Inc. has retained full ownership of the recently formed subsidiary, Franklin Oil & Gas, Inc., and is prepared to begin work in west Texas.

Mr. Petty also announced that incorporation documents have been prepared for formation of Franklin Mining Colombia LTDA and all requested information has been submitted to ECOPETROL (Colombia's national oil company) to register future crude oil sales.

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 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 information is available at

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 ( or contact our Investor Relations firm, A. S. Austin & Company, 702-386-5379.

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