SOURCE: Franklin Mining, Inc.

May 23, 2006 12:48 ET

Franklin Releases Potential Production Capacity of First Cerro Rico Processing Plant

LAS VEGAS, NV -- (MARKET WIRE) -- May 23, 2006 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) has completed its estimate of potential production capacity from the first of several planned processing plants needed for mining operations at the Cerro Rico mine.

"The estimated gross revenue we can expect to recover from the first of our four assigned veins is $52,500 per day when using a price of $700 per ton. Our consultants expect this to be a conservative estimate for each processing plant."

In making today's comments, Jaime Melgarejo, Franklin's CEO, added, "Our assessment of potential production was made following a thorough study of COMIBOL's analysis report received last Friday and a series of meetings with Mr. Marcelo Zambecchi, Z&H Consultants. Mr. Zambecchi, managing director of the firm bearing his name and formerly an Odessa Mining director, will oversee the Cerro Rico mining operations for the Franklin Mining, Bolivia and COMIBOL Joint Venture."

COMIBOL is Bolivia's national mining company. Franklin Mining, Bolivia (a Bolivian corporation) is a subsidiary of Franklin Mining, Inc.

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"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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