SOURCE: Franklin Mining, Inc.

June 01, 2006 10:56 ET

GTL Provides Ultra Clean Fuel, Exceeds Most Clean Air Standards and Reduces Production Costs

GTL Technology Has the Potential to Convert Trillions of Cubic Feet of Natural Gas Into Billions of Barrels of Fuel

LAS VEGAS, NV -- (MARKET WIRE) -- June 1, 2006 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ). GTL technology to be used in the YPFB and Franklin Oil & Gas, Bolivia S.A. joint venture processing plant will convert natural gas into a liquid synthetic fuel. Locally known as eco-diesel, the GTL produced fuel will be a near crystal clear liquid, free from most -- if not all -- pollutants.

The YPFB, Franklin joint venture processing plant will provide fuel for both industrial and consumer use. When available, the eco-diesel product will immediately begin eliminating Bolivia's need for imported diesel fuels. GTL produced fuels can be used to power diesel engines of various uses and applications as well as jet and natural gas turbines.

Franklin Mining, Inc.'s directors and executives believe the YPFB, Franklin Oil & Gas, Bolivia S.A. joint venture will provide shareholder value as GTL technology and Bolivia's abundant natural gas reserves combine to meet domestic needs and capitalize on export opportunities.

Both partners in the joint venture created by last week's MOU will share equally in the net profits generated by plant operations and sales, marketing and distribution of all products. It will do so using existing marketing and distribution infrastructure (pipelines, storage tanks and delivery vehicles; wholesalers and distributors; retailers).

As a result of increased interest in and application of GTL technology, engineering advances have begun reducing the capital cost of production facilities. Franklin Mining, Inc. executives are reviewing plant design and construction needs and requirements anticipating that all recent technological advancements will be included.

The benefit of GTL technology is becoming increasing clear as major oil producing companies embrace it: a serious potential of converting trillions of cubic feet of natural gas into billions of barrels of fuel.

Not only will operating companies with access to natural gas reserves realize increased revenues and -- in theory -- eventual increases in bottom line profits, the benefit of job creation and economic expansion will be potentially significant in some countries.

The YPFB, Franklin Oil & Gas, Bolivia, S.A. joint venture partners will benefit equally from the results of their job creation and cash flow activities as well as profit distributions. The Santa Cruz community and all of Bolivia should also benefit from a reduced reliance on fuel imported from other countries as well as the benefits of an increase in exports.

Franklin Oil & Gas, Bolivia S.A. (a Bolivian corporation) is a subsidiary of Franklin Mining, Inc. YPFB (Yacimientos Petroliferos Fiscales Bolivianos), is Bolivia's state-owned oil company. Their joint venture company will maintain a Regional Office in La Paz and an operations office in the city of Santa Cruz. The joint venture's GTL processing plant is planned to be constructed in the Grande River region of the Department of Santa Cruz, in the eastern portion of Bolivia.

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"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.

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