SOURCE: Franklin Mining, Inc.

February 26, 2007 08:30 ET

Franklin Retains Alex Stewart (Assayers) Ltd. as Pulacayo Tailings Project Grows in Value

Franklin Mining Bolivia Executives and Managers Relocate to Work Site

LAS VEGAS, NV -- (MARKET WIRE) -- February 26, 2007 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) has retained Alex Stewart (Assayers) Ltd. of Merseyside, England and La Paz, Bolivia, an independent company to provide professional services for the Pulacayo Tailings project.

Franklin Mining's General Manager, Dr. Jaime Arancibia Davila, will be on-site at Pulacayo beginning Tuesday and take personal responsibility for site selection and its preparation. Franklin expects all preliminary work will begin within six weeks.

Dr. Arancibia will also supervise erection of the Pulacayo processing plant and direct the possible expansion of the project by personally evaluating every option available to increase gold and silver recovery rates.

Franklin Mining President, Jaime Melgarejo, Jr., emphasized that while mineral resource estimates indicate the Pulacayo Tailings project's gold and silver recovery will generate respectable profits there is a new incentive to expand the depth of the project. "With recent increases in precious metal values and indicators pointing to sustainability, Franklin must explore the possibility of expanding a project that has already increased in value almost $7,000,000 since signing the COMIBOL agreement."

Franklin Mining, Bolivia S.A. Appoints General Manager: Dr. Jaime Arancibia Davila has been appointed General Manager of Franklin Mining, Bolivia. An attorney and former Legal Director of YPFB, Dr. Arancibia brings to Franklin Mining, Bolivia a wealth of knowledge and experience in Bolivia's hydrocarbons and mining industries. In announcing today's appointment, Franklin's President, Jaime Melgarejo, Jr., added that Dr. Arancibia had, in many respects, grown up in the mining industry -- his father was a leader and executive in Potosi cooperativos for 35 years.

Additional information on Franklin Mining, Inc.'s contract to process tailings at Bolivia's Pulacayo mine is available at

Included among Alex Stewart's many global accreditations for both sampling and assaying are LME and COMEX; for additional company information, please see

YPFB (Yacimientos Petroliferos Fiscales Bolivianos) is Bolivia's state-owned oil company.

About Franklin Mining, Inc: Franklin Mining, Inc. has mining and exploration interests in the United States, Argentina and Bolivia; 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.


"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 (

Contact Information

  • Contact
    Investor Relations
    A. Austin & Company