SOURCE: Franklin Mining, Inc.

January 18, 2007 09:52 ET

Pulacayo Project Set to Begin; Cerro Rico Studies Are Complete

LAS VEGAS, NV -- (MARKET WIRE) -- January 18, 2007 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) CEO Jaime Melgarejo, Jr. has confirmed that processing of the Pulacayo Tailings is about ready to begin and that all studies necessary to begin operations in the Cerro Rico Mine are complete.

As part of an expanded due diligence, a 100 Kg sample was taken from the Pulacayo Tailings for laboratory analysis and results were greater than expected. A second, larger sample of 1,000 Kg was collected and sent to a COMIBOL approved laboratory; results of this confirming analysis are expected in about two weeks.

The final step before receiving COMIBOL approval to begin processing Pulacayo Tailings is the analysis of 200 samples to determine extraction technology. Those samples have been collected and sent to a COMIBOL approved laboratory in Argentina. Processing will begin following this report's receipt, which will generate immediate cash flow.

Working through consultants, Franklin has completed all feasibility studies required to begin operating in the Cerro Rico and is looking forward to working with COMIBOL in the redevelopment of this historic mine.

In concluding today's announcements, Mr. Melgarejo said, "Now that we are in the final days before we begin processing Pulacayo Tailings, I very much appreciate the hard work of our consultants and their many contributions in bringing us to this point. As we move forward with final reviews of plans for the Cerro Rico Mine operation, I'm looking forward to working with our consultants and to the continued co-operation of COMIBOL personnel. Soon we will all benefit from months of hard work. Not only will there be cash-flow to the partnership, Franklin's balance sheet will be significantly improved with the addition of two working projects."

Additional information on Franklin projects can be found at www.franklinmining.com.

About Franklin Mining, Inc.

Franklin Mining, Inc. has interests in the United States, Argentina and Bolivia which include a wholly owned subsidiary, Franklin Mining, Bolivia, as well as 51% interest in Franklin Oil & Gas, Bolivia and 51% interest in Franklin Oil & Gas, Argentina.

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 check out our website www.franklinmining.com or
    contact:
    Investor Relations:
    Mr. Andrew Austin
    1-702-386-5379