SOURCE: Franklin Mining, Inc.

March 29, 2007 09:30 ET

Franklin Updates First Quarter 2007 Progress

LAS VEGAS, NV -- (MARKET WIRE) -- March 29, 2007 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) President, Jaime Melgarejo, Jr., is reporting that he feels his company is finishing First Quarter 2007 in exceptionally good shape, well positioned to bring several projects to an operational status.

--  The company recently completed negotiations for additional operating
--  Multiple contracts and operating agreements are in place, ready to
    begin cash-flowing.
--  Project funding necessary to launch construction and development of
    larger, long-term projects has been identified and is being finalized.
Discussing specifics of Franklin's future, Mr. Melgarejo confirmed that Mr. William Petty is in La Paz, Bolivia where he will negotiate with suppliers to begin the contract for Zinc concentrate. These meetings will lead to Franklin's first cash-flowing project.

"We've come a long way since 2003. There were obstacles and set-backs, and we successfully dealt with each of them. Today, Franklin is larger and stronger -- a good company with a great future," concluded Mr. Melgarejo.

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. Additional company information is available at

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 ( or contact our Investor Relations firm, A. Austin & Company, 1-702-386-5379.

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