SOURCE: Franklin Mining, Inc.

May 01, 2007 09:18 ET

Grant Thornton International Completes 2006 Audit of Franklin's Bolivian Subsidiary

Franklin Mining, Inc. Updates Status of 2006 Audit, 15c2-11 and Production in Bolivia

LAS VEGAS, NV -- (MARKET WIRE) -- May 1, 2007 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) auditor in Bolivia, Delta Consult Grant Thornton, has delivered the 2006 audit of both of Franklin Mining's two Bolivian subsidiaries. When reviewed and accepted by Franklin's Board of Directors, subsidiary company information will be reflected in the corporation's 2006 Consolidated Financial Statements. The Consolidated Statements will also be included with Franklin's final response to SEC questions concerning the 15c2-11 filing of last February.

2006's Financial Statements will be Franklin's third year of publicly accessible information. Having worked through many difficulties, current directors and executives are confident that Franklin Mining, Inc. has resolved multiple issues and is about to launch its first cash-flowing project in Bolivia.

A second round of capital was recently negotiated and, once in place, will permit the acquisition of two processing plants.

Delta Consult Grant Thornton (www.gtbolivia.com) is the Bolivian member firm of Grant Thornton International (www.grantthornton.com; www.gti.org).

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 www.franklinmining.com.

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

Contact Information

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