Franklin Continues Developing Bolivian Projects -
Est. 1864
LAS VEGAS, NV -- (MARKET WIRE) -- May 23, 2007 --
Franklin Mining, Inc. -
FMNJ - subsidiary Franklin Mining, Bolivia S.A. continues
to develop multiple projects in Bolivia and is pleased
to be able to issue this update on the status -
of current projects.
Delta Consult Grant Thornton International -
recently completed a special audit of -
Franklin Mining, Bolivia's -
incoming and outgoing cash between June 2004 and June 2006.
This special audit was requested to insure that all
internal policies and procedures had been followed.
Franklin Mining, Inc. -
management used the -
Delta Consult Grant Thornton International special audit
report as a guide in modifying both staff and internal
operations to insure the subsidiary company is equipped
and prepared to meet the challenges of the coming years.
Franklin Mining, Bolivia S.A.
continues working with
CENTROMIN engineers and technical staff as installation,
procurement and production timelines at
the Pulacayo processing plant are reviewed and implemented.
Obtaining final approval of the plant's design was delayed
for almost nine months due to management difficulties
within Franklin Mining, Bolivia S.A. -
that are now resolved.
The processing plant, to be completed under the direction
of Ing. Walter Lesteros, is a design widely used throughout
Peru's mining industry.
Management anticipates the plant will initially process
a minimum 200 tons per day.
ranklin Mining, Inc. -
CEO Jaime Melgarejo, Jr. -
and members of the Franklin Mining, Bolivia S.A. staff -
will travel to Cerro Rico de Potosi -
on Friday, May 25, 2007, to meet with -
COMIBOL personnel as they perform a final evaluation
of recently submitted production studies for -
Franklin's plan to begin mining operation -
at this historic site.
Dr. David Roy Rivas Murillo has resigned his appointment
as Senior Financial Analyst.
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: ----
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.
A. Austin & Company
Investor Relations
1-702-386-5379
www.franklinmining.com
SOURCE: Franklin Mining, Inc. -
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Imo. Tia.
God Bless |
