Franklin Enters Final Phase of Plan to Bring Escala to Full Production
Wednesday April 16, 10:53 am ET
LAS VEGAS, NV--(MARKET WIRE)--Apr 16, 2008 --
Franklin Mining, Inc. -
(Other OTC:FMNJ.PK - News) (Frankfurt:FMJ.F - News) CEO William Petty has confirmed that Howard Dunn, Vice President for Operations, International Mining, returned to Bolivia to make an assessment of equipment available to complete Phases II and III of the Escala production plan.
Mr. Dunn met with the staff of Franklin Mining, Bolivia on Monday, April 14 in their La Paz, Bolivia offices. On Tuesday, Mr. Dunn and Dr. Jaime Arancibia, Franklin Mining, Bolivia's General Manager, inspected the processing plant acquired in March. Today they are in Potosi where they will inspect and evaluate equipment prior to its relocation to the Escala Mine.
Mr. Dunn will also visit the Escala Mine before returning to Franklin's Santa Cruz, Bolivia office where he will meet with Mr. Petty on Friday, April 18 to review his assessment of equipment available for use in implementing the balance of the Escala production plan.
Comprising three separate mining applications, COMIBOL's Escala Mine concession totals 2,000 hectares located in the Sud Lipez Province, near Bolivia's border with Argentina. Franklin Mining, Bolivia has been awarded a contract to mine 500 hectares within the original concession. Escala II and Escala III mining applications are currently assigned to another company.
The original Escala Mine was established during the Spanish colonial period and has been mined for lead, zinc, gold and silver. In 2007, Franklin Mining, Bolivia negotiated an agreement with COMIBOL, National Mining Company of Bolivia, to resume mining operations within the area of the original concession.
About Franklin Mining, Inc: Franklin Mining, Inc. holds mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Mining, Bolivia 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.
For further information, please visit our website (www.FranklinMining.com) or contact our Investor Relations firm, A. S. Austin & Company, 702-386-5379.
Contact:
Contact:
Investor Relations
A. S. Austin & Company
702-386-5379
Source: Franklin Mining, Inc.
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