SOURCE: Franklin Mining, Inc.

December 10, 2007 07:30 ET

Franklin Reports First Sales From Escala

LAS VEGAS, NV--(Marketwire - December 10, 2007) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) is today reporting their first sale at the Escala Mine. William Petty, Franklin CEO has announced that sales were recorded the week of December 3, 2007.

Mr. Petty also confirmed that mineral values reported in the Escala's initial studies appear to have been correct and are generating direct sales revenues of approximately $650.00US per ton. Both direct sales and deliveries for later processing will continue through December as the Escala builds toward full production.

"During the cleaning and preparation process, an estimated 450 tons was gathered and is available for direct sale or processing," Mr. Petty said. "As we continue our ramp-up, additional tons will become available. By the time our Escala managers have sold or processed all recovered product, a sizeable backlog of new product will have been mined from the two cleared and cleaned shafts."

Comprising three separate mining applications, COMIBOL's Escala Mine concession totals 2,000 hectares located in the Sud Lipez Province, near Bolivia's border with Argentina. Franklin Mining, Bolivia S.A. has been awarded a contract to mine 500 hectares within the original concession. Escala II and Escala III are the other two mining applications currently assigned to another mining company.

The original Escala Mine was established during the Spanish colonial period and has been mined for lead, zinc, gold and silver. In 2007, Franklin Mining, Bolivia S.A. negotiated an agreement with COMIBOL, National Mining Company of Bolivia, to resume mining operations within the area of the original concession.

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.

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

Contact Information

  • Contact:
    A. S. Austin & Company
    Investor Relations
    1-702-386-5379