SOURCE: Franklin Mining, Inc.

October 07, 2005 09:30 ET

Franklin Mining, Inc. Comments on Possible Joint Venture With Y.P.F.B.

LAS VEGAS, NV -- (MARKET WIRE) -- October 7, 2005 -- Franklin Mining, Inc. (OTC: FMNJ)

Last September we offered a joint venture to Y.P.F.B., we had a positive reply from the President of Y.P.F.B. at that time. We then traveled to Bolivia in November to start the ground work for a possible M.O.U. between Y.P.F.B. and Franklin Oil & Gas. Our offer was to install a total capacity of about 4 BCF. This was to be done in conjunction with Y.P.F.B. and the installation of the gas processing plants was to parallel the growth of the gas business in Bolivia, the marketing of the products from the plants would be marketed jointly. We estimate that these Gas Processing plants would represent an investment of about 300 million USD. The association with the Shaw Group on the New York Stock Exchange gives Franklin Oil & Gas the ability and technical expertise to make this a reality. The President and C.E.O. of Franklin Mining, Inc. will be traveling to Bolivia in late October.

DISCLOSURES:

About Bolivia:

Bolivia is believed to have the 2nd largest gas reserves in South America. Bolivia is about to go into elections in December and has suffered from Political unrest and nationwide diesel shortages in 2005. Mexico is currently trying to sign gas contracts with Bolivia.

About Franklin Mining, Inc.:

Franklin Mining, Inc. had a complete change of Management and Board of Directors in 2003. Since then Franklin Mining has expanded to Colombia and Bolivia as well as to start operations for Gold mining in Bolivia in 2004. Franklin Oil & Gas was formed in 2004 as a division of Franklin Mining, Inc.

Our website is www.franklinmining.com

About the Shaw Group

The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services for government and private sector clients in the energy, chemical, environmental, infrastructure and emergency response markets. Headquartered in Baton Rouge, Louisiana, with over $3 billion in annual revenues, Shaw employs approximately 20,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. The Company was recently named to Fortune magazine's annual list of "America's Most Admired Companies" for the second consecutive year. For further information, please visit Shaw's website at www.shawgrp.com.

"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:
    Steve Starvie
    813-817-2323