SOURCE: Franklin Mining, Inc.

September 17, 2007 08:50 ET

Franklin Issues Escala Mine Status Report

LAS VEGAS, NV--(Marketwire - September 17, 2007) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) CEO and President William Petty is pleased to announce that Franklin Mining, Bolivia S.A. along with COMIBOL and other partners, has made significant progress in readying the Escala Mine project to begin operating.

Jaime Melgarejo, Jr., Franklin's Chief Operations Officer, and Dr. Jaime Arancibia Davila, Franklin Mining, Bolivia S.A.'s General Manager, are scheduled to arrive at the work-site on Wednesday, September 19, 2007, to supervise final preparations. Additional members of Franklin's engineering and accounting staff will join the on-site work team within a few days. Equipment, parts and supplies necessary to complete the preparations to begin operations have been obtained or identified and located.

Included in the Escala's existing infrastructure and available to Franklin are all necessary utilities, roadways, offices, shops and fourteen houses for use by managers, miners and their families. Under provision of the COMIBOL agreement, a micro-hospital is being readied and will become a permanent part of Escala's infrastructure. Initially, the micro-hospital will operate from an existing building located inside the mine compound.

About the Escala Project: A 2,000 hectare compound owned by COMIBOL, the Escala Mine is located in the Sud Lipez Province, which is near Bolivia's border with Argentina. Escala was established during the Spanish colonial period and has, intermittently, been mined for lead, zinc, gold and silver. In 2007, Franklin Mining, Bolivia S.A. negotiated an agreement with COMIBOL to resume mining operations.

About COMIBOL: Corporacion Minera de Bolivia, often referred to as COMIBOL, is the National Mining Company of Bolivia.

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 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. S. Austin & Company, 1-702-386-5379.

Contact Information

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