SOURCE: Franklin Mining, Inc.

July 20, 2006 08:20 ET

Franklin Mining Announces Cerro Rico, Three Veins Evaluated to Date Have Potential Reserves of Over 21 Million Ounces of Silver

LAS VEGAS, NV -- (MARKET WIRE) -- July 20, 2006 -- Franklin Mining, Inc (PINKSHEETS: FMNJ) is pleased to announce that the three veins evaluated to date have potential reserves that are over 21 million ounces of silver, about 325 million lbs of Zinc and about 21 million lbs of tin.

Franklin Mining, Bolivia (a subsidiary of Franklin Mining, Inc) recently announced its partnership with COMIBOL (the Bolivian national mining company) on four veins of the Cerro Rico Mine.

"The information provided to us by COMIBOL is exciting, and we will begin to review and analyze the details provided as well as the potential reserves for the remaining vein. The contract with Comibol calls for us to have a concentrating plant to be utilized with the ore reserves of the four veins with an investment of about $6 million USD. Our partnership with Comibol is to split the profits 50/50. Our next step is to initiate a preliminary design plan to implement mining operations. We hope to have the preliminary design plan completed in three months," stated Jaime Melgarejo, President of Franklin Mining, Inc.

Metal Prices this week shows Silver $11.19 USD per ounce, Tin $3.76 USD per lb and Zinc $1.50 USD per lb.

DISCLOSURES:

About Franklin Mining, Inc:

Franklin Mining currently has interests in Bolivia and the United States and opened a wholly owned subsidiary in Bolivia. Franklin Mining, Inc Bolivian subsidiaries include Franklin Mining, Bolivia and Franklin Oil & Gas, Bolivia. For information about Franklin Mining, Inc. visit our website: http://www.franklinmining.com.

About Cerro Rico Mine:

The Cerro Rico Mine is considered by many to be the richest silver mine in the world. Rich in zinc and silver, it has been actively mined since the 1500's and is in operation today. Cerro Rico is owned by Bolivia's national mining company, COMIBOL.

About COMIBOL:

COMIBOL is the government owned mining company in Bolivia. COMIBOL owns the CERRO RICO mines as well as many other properties and mineral rights in Bolivia.

"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

  • Contact:
    Franklin Mining, Inc.
    Andrew Austin
    1-702-386-5379