SOURCE: Franklin Mining, Inc.

Franklin Mining, Inc.

February 10, 2011 10:31 ET

Franklin-Segovia Joint-Venture for Infrastructure Construction

Bonding Capability of $200,000,000.00

LAS VEGAS, NV--(Marketwire - February 10, 2011) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman & CEO William Petty has completed a series of meetings and tele-conferences with Franklin Directors, Managers and Financial Consultants. Meetings in Franklin Mining Bolivia's Santa Cruz offices included local attorneys.

In discussing Franklin's joint-venture agreement with Segovia Group Corporation, Mr. Petty reported to Franklin's officers, consultants and advisors the favorable response he has received from contacts in Bolivia. "Our Segovia Group joint-venture has brought to Franklin the capability of bonding individual construction projects up to an aggregate $200 million USD." Mr. Petty added, "Franklin has had many opportunities to participate in construction projects in Bolivia but lacked sufficient bonding capability to be awarded the contract. The Segovia Group joint-venture has allowed us to overcome our one weakness and equipped Franklin to further participate in the economic growth and development of Bolivia and throughout South America."

Adrian Cotasaenz, CEO, Segovia Group Corporation, added, "We are looking forward to this opportunity to assist our Friends, Associates and local communities in Bolivia. Infrastructure projects are critical to the economic development and service of all communities and Segovia is pleased to be part of a solution."

About Franklin Mining, Inc.: Franklin Mining, Inc. has mining interests in the United States and Bolivia. Additional information is available at www.FranklinMining.com

Segovia Group Corporation, www.segoviacorp.com, headquartered in San Antonio, Texas with offices in California, Illinois and Georgia, and Franklin Mining, Inc. have formed a joint-venture agreement to use their combined resources for the development of mining, infrastructure and other commercial projects in Bolivia, South America.

Segovia's senior managers represent more than 100 years experience in commercial and industrial construction including heavy and civil engineering, site preparation, infrastructure, commercial and industrial construction. Segovia Group has nationwide experience including military, government and retail industry clients.

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, 210-204-5068.

Contact Information

  • Contact:
    A S Austin Company
    210-204-5068