SOURCE: Franklin Mining, Inc.

February 01, 2007 08:30 ET

Franklin Mining, Inc. Executives Considering Stock Buy-Back Plan

LAS VEGAS, NV -- (MARKET WIRE) -- February 1, 2007 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) Executives and Board Members are conferring with corporate legal counsel to prepare a plan for the buy-back of shares. The plan, if approved, will not be effective until after cash-flow from recent contracts has been established. The timing of the buy-back and the exact number of shares will depend on market conditions.

In releasing this information, Jaime Melgarejo, Jr., Franklin's CEO said, "With the addition of our new Zinc contract in Japan and a pilot plant being relocated to the Pulacayo Tailings work site, we are confident we have sufficient resources in place to consider a buy-back of shares plan along with several other plans by which the corporation's $30 million tax loss carry forward can best be utilized for the benefit of shareholders."

According to the International Lead & Zinc Study Group (, Zinc's worldwide demand is expected to continue outpacing supply for the next several years. And with the London Metals Exchange's spot market quotation recently hovering near $1.59 per pound (, Franklin is projecting gross revenues of $1,646 (USD) per metric ton.

The tax loss carry forward was previously discussed in the February 22, 2006 press release "Franklin Mining Reports $30Mil Tax Loss Carry Forward" available at our web site,

About Franklin Mining, Inc.

Franklin Mining, Inc. has interests in the United States, Argentina and Bolivia which include a wholly owned subsidiary, Franklin Mining, Bolivia, as well as 51% interest in Franklin Oil & Gas, Bolivia and 51% interest in Franklin Oil & Gas, Argentina.


"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.

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Contact Information

  • Contact:
    Investor Relations:
    Mr. Andrew Austin