SOURCE: Franklin Mining, Inc.

August 30, 2007 08:30 ET

Franklin Receives Proposal for the Purchase of Bolivian Oil & Gas Holdings

LAS VEGAS, NV--(Marketwire - August 30, 2007) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) has received a proposal for the purchase of its interest in a Bolivian Oil & Gas corporation. A full review of the proposal is expected to be completed quickly.

Franklin Mining, Inc.'s officers and directors recently began searching for a suitable disposition of the company's oil and gas division. A suitable disposition would be one that allowed Franklin Mining executives and managers to concentrate on the core business of mining while providing the company and its shareholders with an anticipated return of investments made in acquiring and developing multiple energy projects in South America.

Franklin Oil & Gas, Bolivia S.A. has two Bolivian projects under Memorandum of Understanding. Both projects include the construction and future operations of gas-to-liquid (GTL) facilities. One project is in the Department of Santa Cruz and the other in the Department of Tarija. Franklin Mining, Inc. holds a 51% ownership in Franklin Oil & Gas, Bolivia S.A.

The Memorandum of Understanding with Bolivia's national petroleum company preceded the May 1, 2006 nationalization of gas fields and has since been reconfirmed.

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

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