SOURCE: Franklin Mining, Inc

March 07, 2006 16:10 ET

Franklin Mining, Inc in Final Negotiations With COMIBOL

LAS VEGAS, NV -- (MARKET WIRE) -- March 7, 2006 -- Franklin Mining, Inc (OTC: FMNJ) has submitted a proposed contract for review by COMIBOL and a federation of local cooperatives representing several thousand workers. COMIBOL is a mining corporation owned by the government of Bolivia. If an agreement is reached, Franklin will become a joint venture partner with COMIBOL and the workers' cooperatives.

Jaime Melgarejo, CEO of Franklin, explained that the proposed agreement calls for COMIBOL to make the mine/s available, the cooperatives to supply the labor force, and Franklin to supply mining expertise and capital. Mr. Melagarejo went on to say that the proposed Joint Venture will attempt to increase productivity at the Cerro Rico [silver] Mine, Potosi, Bolivia which could result in higher revenues for COMIBOL, significant cash flow for Franklin as well secure better wages and working conditions for the miners supplied by the cooperatives. Mr. Melgarejo also said that he hoped that "the current proposal will result in a long term relationship between the parties."


"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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