SOURCE: Franklin Mining, Inc.

November 27, 2007 10:18 ET

Planned Reforms to Bolivia's Mining Tax Code Not Expected to Seriously Affect Franklin's Joint-Venture and Partnership Agreements

Franklin Projects Currently on Schedule, Reporting No Major Delays

LAS VEGAS, NV--(Marketwire - November 27, 2007) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) CEO William Petty met with the leaders of the National Mining Company of Bolivia and the National Federation of Cooperative Miners of Bolivia prior to returning to the US. In these meetings, Mr. Petty was assured that all Franklin projects currently underway or in development remain in place as previously agreed, are approved to continue their operations without hindrance and are not affected by changes in leadership at the Ministry of Mining and Minerals occurring after Franklin's contracts were signed and confirmed by letter dated May 10, 2006.

Mr. Petty was also assured that COMIBOL's joint-venture and partnership agreements and contracts approved and in place prior to the effective date of recently approved reforms to Bolivia's mining tax code will not be significantly affected by those reforms.

Mr. Petty is also happy to report that all Franklin projects are currently on schedule, plus or minus very small deviations from plan. Even though there are shortages of diesel fuel in some parts of the country, they have had no effect on operations at the Escala Mine. There've been no unusual or extraordinary delays of any other nature, no bad weather and no unexpected or unforeseen environmental roadblocks.

About Franklin Mining, Inc.: Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. 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.

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.

Contact Information

  • For further information, contact
    A. S. Austin & Company
    Investor Relations
    1-702-386-5379
    www.franklinmining.com